Virtual Credit Cards - The Proper Help on the Proper Time
All of us very well know how convenient credit cards have proven to be. Whether it's making purchases at the mall, or paying for an emergency on the hospital, these plastic wonders definitely come in handy. Nowadays, people use their cards for on-line transactions on a daily 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 potential we attempt to use our cards in safe websites, but sometimes there are instances once we are required to make use of unsecured web pages. And using our credit card information 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 widespread banks.
Only a major 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 a couple of days. Since they are usually used to make only one-time transactions.
A separate set of credentials similar to card number, cvv number and so on is assigned to this virtual card. These are the details you'll must enter whenever you want to use this card.
There are specific minimum and maximum limits assigned to your virtual credit card.
Money out of your account is switchred into this card whenever you need it. And if there may be any money remaining after your transaction, it is switchred back into your account.
These cards are easy to create and use, as all of the process is done online. All it's essential to do is have a sound internet banking facility with transaction rights, and voila you can avail a virtual credit card!
What are the advantages of VCC?
The principle advantage is security of course! You by no means must reveal the precise particulars of your credit card or debit card account details.
There is a one time password that will be issued to you, this is the principle reason why there is little room for anybody else to misuse your card.
The quantity from your account will be debited only whenever you make an precise purchase using the virtual card.
You may even create a virtual card utilizing your debit card.
You don't even must own an precise credit card, all you want is an active bank account with adequate balance and a net banking facility with a view to make use of this feature.
Now you know you can simply keep away from the treacherous credit card debt, and at the similar time not lose out on the advantages of electronic money. Go ahead and get your self a virtual card in the present day for straightforward as well as safe transactions.