Virtual Credit Cards – The Right Help on the Right Time


We all very well know how convenient credit cards have proven to be. Whether it’s making purchases at the mall, or paying for an emergency at the hospital, these plastic wonders definitely be useful. Nowadays, people use their credit cards for online transactions on a regular basis. With all the rise in online transactions, there has also been an equal rise in fraudsters taking a hold of and misusing shopper’s credit card details.

As much as possible we try to use our cards in secure websites, but sometimes there are instances when we are required to make use of unsecured web pages.
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And using our own credit card information in such pages is extremely risky. Which is why banks have found a means round this and come up with an amazing solution called – virtual credit cards.

How do they work?

These virtual cards are issued by various popular banks.
Only a primary credit card holder can make use of this service and add – on card holders cannot avail this feature.
They have a limited validity – not more than a few days. Being that they are usually used to make only one-time transactions.
A separate set of credentials for example card number, cvv number and so on is assigned to this virtual card. These are the details you’ll need to enter when you wish to use this card.
There are certain minimum and maximum limits assigned to your virtual credit card.
Money from your accounts is transferred into this cards when you want it. And if there is anything remaining after your transaction, it is transferred back into your account.
These credit cards are easy to create and use, as all the process is done online. All you need to do is have a valid web banking facility with transaction rights, and voila you can avail the virtual credit card!

What are the advantages of VCC?

The main advantage is security obviously! You never have to reveal the actual information on your credit card or debit credit card account details.
There is an one time security password that will be issued to you, this is the major reason why there is little room for anybody else to misuse your cards.
The amount from your account will be debited only when you make an actual buy using the virtual card.
You can even develop a virtual card using your debit cards.
You don’t even need to own an actual credit card, all you need is an active bank-account with sufficient balance and a net banking facility in order to make use of this feature.

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