All of us very well know the way convenient 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 undoubtedly are available in handy. Nowadays, individuals use their cards for on-line transactions on a daily basis. With the rise in online transactions, there has also been an equal rise in fraudsters taking a hold of and misusing shopper’s credit card information.
As much as potential we try to use our cards in safe websites, however sometimes there are situations when we are required to utilize unsecured web pages. And using our credit card info in such pages is highly risky. Which is why banks have discovered a way spherical this and provide you with a wonderful answer called – virtual credit cards.
How do they work?
These virtual cards are issued by several well-liked banks.
Only a major card holder could make use of this facility and add – on card holders cannot avail this feature.
They’ve a restricted validity – not more than just a few days. Since they’re 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’ll need to enter once you need to use this card.
There are certain minimal and maximum limits assigned to your virtual credit card.
Money from your account is transferred into this card when you want it. And if there’s any money remaining after your transaction, it is switchred back into your account.
These cards are simple to create and use, as all the process is finished online. All you might want to do is have a legitimate 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 main advantage is safety in fact! You by no means must reveal the actual details of your credit card or debit card account details.
There’s a one time password that can be issued to you, this is the primary reason why there may be little room for anybody else to misuse your card.
The quantity out of your account might be debited only once you make an actual purchase utilizing the virtual card.
You’ll be able to even create a virtual card utilizing your debit card.
You don’t even have 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 similar time not lose out on the advantages of electronic money. Go ahead and get your self a virtual card as we speak for straightforward as well as secure transactions.
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