Question

When entering a credit card for use for purchases, which piece of information is typically not entered?

1) Cardholder's name
2) Card number
3) Expiration date
4) CVV code

Answer 1

When setting up a credit card for future payments, the CVV code is typically not entered as a security measure to protect your credit and debit cards. Other security practices include using strong passwords and PINs, installing anti-virus software, and updating your bank with any changes in contact information.

Step-by-step explanation:

When making purchases with a credit card, certain pieces of information are required for a transaction to be processed. However, typically, the CVV code, or Card Verification Value, is not entered into websites when setting up the card for future payments. This is a security feature meant to protect your credit and debit cards from unauthorized use should your stored card details be compromised.

It's essential to safeguard all aspects of your credit card information, similar to how you would protect your wallet and protect your mailbox from physical theft. One should also use passwords and PINs that are difficult to guess, install reliable anti-virus software on computers, and promptly notify banks when there is a change in address or phone number.

Protecting your credit card information is akin to safeguarding your financial assets, akin to understanding components like M1 and M2 money supply classifications. It's essential to know what comprises your financial resources and how to secure them effectively.