Credit card...Is it essential one?
![cvc number in the credit cards-security feature - The Card Security Code is located on the back of MasterCard, VISA (credit card) and Discover Card credit or debit cards and is typically a separate group of 3 digits to the right of the signature strip.
The Card Security Code (CSC), sometimes called Card Verification Value (CVV or CV2), Card Verification Value Code (CVVC), Card Verification Code (CVC), Verification Code (V-Code or V Code), or Card Code Verification (CCV)[1] is a security feature for credit or debit card transactions, giving increased protection against credit card fraud.
There are actually several types of security codes:
* The first code, called CVC1 or CVV1, is encoded on the magnetic stripe of the card and used for transactions in person.
* The second code, and the most cited, is CVV2 or CVC2. This CSC (also known as a CCID or Credit Card ID) is often asked for by merchants for them to secure "card not present" transactions occurring over the Internet, by mail, fax or over the phone. In many countries in Western Europe, due to increased attempts at card fraud, it is now mandatory to provide this code when the cardholder is not present in person.](https://img.mylot.com/2164659.gif "cvc number in the credit cards-security feature - The Card Security Code is located on the back of MasterCard, VISA (credit card) and Discover Card credit or debit cards and is typically a separate group of 3 digits to the right of the signature strip.
The Card Security Code (CSC), sometimes called Card Verification Value (CVV or CV2), Card Verification Value Code (CVVC), Card Verification Code (CVC), Verification Code (V-Code or V Code), or Card Code Verification (CCV)[1] is a security feature for credit or debit card transactions, giving increased protection against credit card fraud.
There are actually several types of security codes:
* The first code, called CVC1 or CVV1, is encoded on the magnetic stripe of the card and used for transactions in person.
* The second code, and the most cited, is CVV2 or CVC2. This CSC (also known as a CCID or Credit Card ID) is often asked for by merchants for them to secure \"card not present\" transactions occurring over the Internet, by mail, fax or over the phone. In many countries in Western Europe, due to increased attempts at card fraud, it is now mandatory to provide this code when the cardholder is not present in person.")
By kumarpslv
@kumarpslv (3216)
India
March 28, 2009 4:46am CST
Though it is having its own advantages, in my view its having more disadvantages only if we compare the both. There are lot members who are not self control, happened to pay more than what they bought using the credit cards.Also we are not able to prevent the frauds here,though we are having high security such as cvc,PIN,.etc I don't want to have this and I feel this is unnecessary one. Do you feel is this as essential one?
1 person likes this
8 responses
@BYOLA2871 (4371)
• South Africa
31 Jul 09
well sometimes it helps to have some form of credit to help in times of need but the truth is when it comes to having credit cards many people abuse the privilege o having it and end up in debt,but really i know a guy who has a credit card and has actually used it to an advantage.What he does is find out products at bargain prices ,purchase thyem with his credit card and then resell them online or in real world after taking delivery.He then takes out his profit and adds a little something to repay his credit so he is not indebted .i think that is a clever way to take advantage of his credit card ,but the fear is the scams and frauds that goes on online but i guess these are al some of the things we have to just watch out for when it comes to credit cards,i wouldnt mind having one personally though
@kumarpslv (3216)
• India
1 Aug 09
Really that person is grate.But this is not possible even for few. Most of the card holders are making unwanted purchases only. Even if we want to make a purchase that is essential to us, there the shops are not accepting the credit cards.Mostly in the place where they are accepting the credit cards, the price of the goods are too high and we are not able to bargain there also. If we are able to control our purchasing habit, then we can get some benefits out of them.Else, we will always in trouble only.Thanks for your response
@vinslounge (1295)
• India
28 Jul 09
Credit card is always a disadvantage is my opinion. I always prefer debit card to credit card. Credit card sometimes push us in un-necessary spendings and in some places you need to pay an interest rate of 2.5% which is quite un-necessary is my opinion. If you forget to pay back the amount in the specified time, then you need to pay a penalty of 30% of the total amount you have spent. Hence taking into consideration of those things, I always prefer Debit card and credit card simply destroys your saving and income. At present, the world is facing an economic crisis and the credit card plays a major role in that. I wish Debit card must be made as a universally acceptable one as even today, there are certain places in my country where only credit cards are being accepted.
@kumarpslv (3216)
• India
28 Jul 09
You are coinciding with me 100%. The credit cards most of the time leads to the unnecessary expenses.We are able to see many of the cc holders are purchasing things, though they have necessity for that only because of having the card. Nowadays, it became tool to show the statues of them, in their view.I happened to a lady who is having many cards, in a visiting card folder, instead of the visiting cards. I don't know how will she repay the debts.May be void cards else..If we have debit card, we will make purchase only if we have balance in our account and we will never get any trouble as you told..Thanks for your response
@bluemars (952)
• Australia
28 Mar 09
I think many people have one for conveinence but I don't think that it is essential, I know this because I don't have one and I think that I am just fine without one. You can save yourself a lot of money too by not having one. It really is at the end of the day just paying for the ease of having one and not having to carry around cash.
@kumarpslv (3216)
• India
28 Mar 09
Thanks for your opinion. Better not having the credit card, otherwise we will be always in mental depression about the repayment of the dues. Now we are free.
@ptrikha_2 (47260)
• India
2 Jun 09
Well yes, credit cards do bring headache in some respects and do have certain disadvantages . However, they are useful in many things and cannot be fully discarded . I think one ought to be more judicious in
choosing and using one 's credit cards .
@kumarpslv (3216)
• India
28 Jul 09
It seems hat they should be used like a knife..If we are not taking care in that, then we are likely get into the great trouble.For those who are not having control over their desire and on themselves, it will be a burden only. But some are there to kake use of the cards so that they get benefit always from that.But such people are very less in number.Sorry for the delayed reply and thanks for your response
@venmarz13 (735)
• Indonesia
28 Mar 09
i think not.i think it make we so wastefull..it easy to buy but not easy to pay it later.and credit card have so many tax or what is it..first time i try to aplly credit card but after think more,i decide not to apply that card.i thin i can use my debit card.
@kumarpslv (3216)
• India
28 Mar 09
Thanks for your opinion.I we are able to pay in time,then the charges the are making on us is extremely high.
@o0Tora0o (355)
• United States
28 Mar 09
It's true that credit cards can be abused, especially when the person who has the card and uses it doesn't realize that buying things now and paying it off later is a bad idea. In the long run, though, if a person uses a credit card wisely, it really can be a good thing. It can raise one's credit score, which in turn will help a person out if they're trying to buy a house or a new vehicle. For people who are just starting out in life and have no credit at all, getting a credit card is pretty much the only way to start establishing a credit history.
@kumarpslv (3216)
• India
28 Mar 09
Thanks for your opinion.It is suit to those who are able to manage their funds very efficiently.
@kumarpslv (3216)
• India
28 Mar 09
Thanks for your suggestion. It is very helpful only to those,having self control while purchasing something, and not for all.The main advantages in the credit cards are, interest free loan for about 30-45 days .
@ag_sekar (112)
• India
28 Mar 09
It is essential. You should use it as you would use fire or electricity. you can not play with them. Same is true of credit cards.
@kumarpslv (3216)
• India
28 Mar 09
Thanks for your suggestion and we all not able to so careful with these cards.Availability of lot of decorative things make us to purchase.We are not able avoid .
