Credit Card Security. Review on Credit Cards Financial Help or Financial Hurt

Since 8, Nov. 2016 after demonetization we have forced to go for cashless payments for daily transactions needed for the survival. Interesting & somewhat easy way is Plastic Money i.e. Credit Card or Debit Card.

Important aspect while using such cards is you should know following things.

1) Credit Card Number 16 Digit

2) CVV or CID or CVV2 Number means Identification of the Holder of the credit Card.( Code Verification Value)

3) Expiry Date of the Card.

4) PIN - Personal Identification Number.

5) EVM Chip

6) OTP - One time Transaction Password( Receive on your Mobile Number registered with the card)

After receiving such card check all above things.

Remember or Note Down CVV/ CVV2 Number.

Now Scratch/erase the CVV or CVV2 Number which is 3 digit number on the reverse side of your credit/debit card.( Erasing this number will not damage your card)

CVV or CVV2 number is useful while Online or internet based Transactions only.

Now you are safe, even if your credit/debit card is lost, no harm that somebody will use it for Online shopping/Internet Purchase etc. Because While using such card online, site will ask for CVV or CVV2 for the authentication purpose & then only the transaction is successful. Now in this case CVV or CVV2 number does not present on your card because you have erased it, so don't worry

But still there is chance that some one may swap across the counter in the shop. But if your Credit card is having EVM Chip then not to worry because even if some one swap your card in your absence, for verificatio & authentication machine will ask PIN which is known only to you or OTP will receive on your Mobile number which belongs to you & not with the fraudster. Without entering your PIN/OTP transaction will not be successful.

So, Please ensure that your Credit or Debit card should have Chip on it. Also you have registered your Mobile number with this Credit or Debit Card.

Now you are 99% safe while using plastic money.

Enjoy Cashless Transactions using Plastic Money.

[ Drawback is if you forget this CVV or CVV2 number which you have erased from the card can't be reset again, for that matter you have to opt for new card from the respective bank. Bank may ask you to pay for new card.]