If you deactivate your VIP credential you will no longer be required to enter the credential and security code to log in.
Go to Account > Users on the left menu and click the edit icon next to your name. Click the Deactivate VIP link in the VeriSign Identity Protection box and click Submit to complete deactivation.
Once deactivated, you no longer need a VIP security code to log in to this PCI user account. If you've enabled the VIP two-factor authentication feature for other PCI user accounts, you will still enter a VIP security code when you log in to those accounts.
Yes, you can reactivate it by registering it again.