A CVV, which stands for card verification value, provides a measure of security when you're shopping online or by phone and not physically present to show your card. If your CVV is completely worn off -- and you can't read it at all -- contact the card issuer immediately. Do the same if you suspect someone knows both your credit card account number and its CVV.
Replace for Your Protection
While a credit or debit card issuer -- with whom you have a good financial relationship -- might make an exception and process a transaction in progress, financial institutions don't "replace" CVVs. These numbers are meant to provide security for the specific credit card numbers they are assigned to.
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Your debit or credit card issuer may consider your card damaged if you can't read the CVV and issue you a new card upon your request. Whether the card issuer charges you a card replacement fee varies among financial institutions. If your card number and CVV have been used for fraudulent activity, your financial institution will cancel the card and issue you a new one with both a new account number and a new CVV.
When there's an issue with the CVV, it's up to the merchant's discretion as to whether to process the transaction, according to the Authorize.net website. It may take a phone call to the merchant and the card issuer to process a transaction in progress.