The credit card security code is a special feature that card companies put in place to try to prevent credit card fraud as much as possible. More than 31 million people have fallen victim to credit card fraud in the past. The world has seen everything from huge company-wide credit card fraud schemes to family member and friend fraud. The security card feature was put in place to cut down on some of those instances. The most recent technology to prevent credit card fraud is the microchip, but not all consumers want the microchip technology.
Where Is the Credit Card Security Code?
The credit card security code can be in one of two places on the card. Usually the consumer can find it on the back of the credit or debit card in the middle right section of the card. However, some providers do place their security codes on the front right side of the card. American Express is a provider that does that. Security codes are usually three digits, but they can be four or more. Again, American Express is popular for the four-digit security code.
How the Security Code Works
Consumers do not have to worry about the security code when they swipe their cards with a cashier because the card reader picks up on it. They do have to worry about it when they make purchases over the phone online. They will have to enter the card’s security code before they can wrap up the transaction. Entering the code almost 100 percent ensure that the card is in the cardholder’s hands. Even sites that keep consumer credit card information in the database ask the customer to enter the three-digit security code in for each payment.
Other Components of the Credit Card
The average credit card has about five parts to it other than the security code. The account number is the 16-digit number that appears on the front of the card. The expiration date is the number that is below the account number. The magnetic strip is on the back of the card. It is the strip that holds all of the information about the card. The rest of the card is the body. Consumers must keep the magnetic strip safe from electronics and items that will scratch it or the readers will not be able to examine it.
Finding a Secure Credit Card
Consumers may be interested in finding a card that has a four-digit security code or the microchip technology. One can easily distinguish a microchip card because its picture will have a little picture of a microchip on it. Those who are just fine with having a four-digit security code can simply visit a comparison site and search for cards. The picture will show the four-digit code on the front of nay card that is designed like that. Security is important, so each consumer should do his or her best to maximize it.