Closely guard these digits unless a business you trust needs them to complete a purchase you initiate.
Have you ever felt uneasy when someone on the phone asked for your credit card security code? Your instincts were on target.
Just as most people keep their Social Security and phone numbers close to the vest, so too should you guard your credit card security codes.
Security codes help reduce the risk of fraud, even though consumer protection laws limit your liability for credit card fraud to $50. In most cases, if you promptly report an incident, you won’t owe anything.
Yes, you should exercise caution in sharing your card’s security code, but you’re still protected, even if your card is misused.