Virtual Credit Cards - The Right Assist on the Right Time
All of us very well know how convenient credit cards have proven to be. Whether or not it's making purchases at the mall, or paying for an emergency on the hospital, these plastic wonders definitely are available handy. Nowadays, folks use their cards for online transactions on a regular 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 much as attainable we try to use our cards in secure websites, however generally there are instances once we are required to make use of unsecured web pages. And utilizing our credit card data 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 several in style banks.
Only a main card holder can make use of this facility and add - on card holders cannot avail this feature.
They've a limited validity - not more than a number of days. Since they are normally used to make only one-time transactions.
A separate set of credentials comparable to card number, cvv number and so forth is assigned to this virtual card. These are the details you may must enter when you need to use this card.
There are particular minimum and most limits assigned to your virtual credit card.
Cash from your account is transferred into this card when you want it. And if there may be any cash remaining after your transaction, it is transferred back into your account.
These cards are simple to create and use, as all of the process is finished online. All you'll want to do is have a sound 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 principle 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 principle reason why there's little room for anybody else to misuse your card.
The amount out of your account will be debited only once you make an actual purchase utilizing the virtual card.
You can even create a virtual card using your debit card.
You do not even need to own an precise credit card, all you want is an active bank account with ample balance and a net banking facility so as to make use of this feature.
Now you know you can simply avoid the treacherous credit card debt, and on the same time not lose out on the advantages of digital money. Go ahead and get your self a virtual card at this time for straightforward as well as secure transactions.