You may have noticed that many free credit card offers online also come with the added feature of a virtual card. This is just another version of the credit card, which only exists digitally. You can never hold it in your hands, but you can use it for digital transactions as you would your physical card.
The upside to these is that the card information is securely stored online, thus eliminating a bevy of risks that come with physical cards. There are other features as well, and these serve as added safeguards for your finances. Here’s what you need to know.
Why Do You Need Virtual Credit Card Numbers?
Virtual credit cards work similarly to physical credit cards, but only in virtual form. When you generate a virtual card, you get a random 16-digit number, expiry date, and CVV number for your physical credit card.
You can use this number instead of your physical card details on the merchant portal. This adds a layer of protection to your online payment, as it is hard to trace these card details back to the cardholder. Furthermore, these details are temporary and expire after a limited period.
So, even if online fraudsters have your card details, they can’t make unauthorised transactions. Remember that these cards still require you to be mindful of your purchases, as it is still possible to fall prey to fraud.
Generating a Virtual Credit Card Number
As most issuers allow you to get a virtual credit card online, it is instantaneous. For this, you need to apply either through net banking or the mobile banking app. Here, you need to choose the option to generate it and provide your physical credit card details for verification.
Shortly after, the issuer will generate your instant virtual credit card. Now you can use these details to complete transactions at the payment portal.
Advantages of a Virtual Credit Card
The key benefit of the virtual card option is the security it offers against data breaches and misuse of credit card information. Some issuers may not charge a fee for issuing a virtual credit card number.
In addition, all the transactions you make using this credit card number reflect on your credit card statement. This is a straightforward solution to elevate your credit card security and manage your payments. In addition, it eliminates the need to carry your credit card, as you can easily generate it in a few minutes through your desktop or mobile.
However, not all issuers offer an instant virtual credit card, and these benefits make it evident why you should opt for a credit card with this feature. One such card with this feature is the One Credit Card, a feature-rich premium metal credit card.
You get a virtual card and a host of other features, all accessible through the powerful One Credit Card app. With this lifetime free credit card, you enjoy exciting co-branded benefits, no-cost EMIs, and more. Apply online to enjoy swift, secure, and seamless payments.
