ID Theft

Why credit card companies does not provide password protection? So any internet based transation ..safe?

Public Comments

1. The idea is that your credit card number combined with the expiration date and billing address, and CVV on the back of the card are your password. You shouldn't be giving out your credit card number to anybody who doesn't need it. Especially the expiration date or CVV :) I agree that it would be nice to have something more secure. But it would of course make using a credit card more inconvenient, which is, I think, one of the biggest reasons it's not done. This doesn't make internet transactions unsafe. You should only be entering your credit card information on secure pages that display a secure icon in your browser - indicating that the information you enter is securely transmitted only to the party you are sending it to. However, it does make losing your credit card unsafe, since almost all the necessary information is actually printed on the card. But, that makes it no less secure than cash anyway :)
2. I recently undertook a transaction with an airline company and there was a slight problem with my credit card/address. My company - Visa - contacted me shortly afterwards and I now have a password which will be used by various companies who subscribe to the scheme. I now have a password for any transactions that I may undertake. Why not get on to your credit card issuers and take it up with them? After all, you're doing them a favour in attempting to stop fraud and the loss from their coffers. Their coffers are awfully deep though!