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Virtual Credit Cards - The Right Help at the Right Time
All of us very well know how handy credit cards have proven to be. Whether it's making purchases on the mall, or paying for an emergency on the hospital, these plastic wonders definitely are available handy. Nowadays, people use their cards for online transactions on an everyday basis. With the rise in online transactions, there has additionally been an equal rise in fraudsters taking a hold of and misusing shopper's credit card information.
As a lot as doable we attempt to use our cards in secure websites, but typically there are situations once we are required to make use of unsecured web pages. And utilizing our credit card info in such pages is highly risky. Which is why banks have discovered a way round this and come up with a wonderful solution called - virtual credit cards.
How do they work?
These virtual cards are issued by a number of standard banks.
Only a primary card holder can make use of this facility and add - on card holders cannot avail this feature.
They have a limited validity - not more than just a few days. Since they're often used to make only one-time transactions.
A separate set of credentials corresponding to card number, cvv number etc is assigned to this virtual card. These are the main points you'll need to enter when you wish to use this card.
There are specific minimal and maximum limits assigned to your virtual credit card.
Money out of your account is switchred into this card if you want it. And if there may be any cash remaining after your transaction, it is switchred back into your account.
These cards are simple to create and use, as all of the process is completed online. All you have to do is have a valid internet banking facility with transaction rights, and voila you'll be able to avail a virtual credit card!
What are the advantages of VCC?
The primary advantage is security after all! You never have to reveal the actual particulars of your credit card or debit card account details.
There's a one time password that will be issued to you, this is the primary reason why there is little room for anybody else to misuse your card.
The amount out of your account will be debited only whenever you make an precise buy utilizing the virtual card.
You possibly can even create a virtual card using your debit card.
You do not even need to own an actual credit card, all you need is an active bank account with enough balance and a net banking facility with a view to make use of this feature.
Now you know you possibly can easily keep away from the treacherous credit card debt, and on the same time not lose out on the advantages of electronic money. Go ahead and get yourself a virtual card right now for straightforward as well as secure transactions.
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