Question

State three precautions that must be taken while using credit or debit cards.

Answer 1

Following are the three precautions one should take while using credit/debit cards.

1. Signature: Debit/credit cards include a space for the cardholder to sign below the magnetic strip on the back. The cardholder must sign at that location.
2. CVV: CVV stands for Card Verification Value. The numeric code on the back of the card authenticates electronic fund transactions. Keep this CVV confidential and do not share it with anyone.
3. PIN: PIN stands for Personal Identification Number. This is a numeric password used to authenticate ATM withdrawals and electronic transfers. This PIN must be kept confidential and not shared with anybody.