Virtual credit card is also known as one time card
. A virtual credit card is a disposable payment card that can be used to make purchases or payments over the internet. These don"t provide any actual credit card and the user is provided a new credit card number every time an individual makes a purchase on the internet. This is the prime reason for why it is called as single use card numbers.
A virtual credit card does not have any plastic existence and other components such as expiry date and CVV number are visible online. One can apply and get credit card online as this facility of virtual credit cards is provided by very few banks.
Although a virtual credit card works as per the same phenomenon as normal credit card does but there are some distinguishing features of virtual cards listed below:
" The best credit card in India provides facility of credit card as per applicants credentials but virtual credit card helps you setting up your own credit limit. It works like a prepaid card where the credit limits equals the amount you want to be available on the card.
" As there is no plastic existence involved, virtual credit cards save an individual from any kind of frauds. A new credit card number is issued to the card holder every time they want to make the purchase. This feature of virtual credit card removes possibility of credit card being used fraudulently.
" After an individual apply for credit card, usually the turnaround time is longer for generation of credit card but virtual credit cards have a very shorter turnaround time due to which they are being preferred over normal credit cards.
" An individual can set the monetary limits and expiry date of virtual credit cards themselves which is a unique feature as per industry standards.
" The information regarding the virtual credit card is available only to the user or the cardholder while the virtual credit card is linked to the real credit card number.
" Virtual cards are very safe and secure to people against any theft. As information is stored online, it eliminates the need to remember credit card details for every transaction.
The virtual credit card offers very facility that a best credit card in India does plus there are other advantages that makes them unique over normal credit cards. Compare online free quotes from banks and financial institute and choose the best credit cards.