• Wed. Jul 24th, 2024

Should I Use a Virtual Credit Card When Making Online Purchases?


Mar 11, 2024

Should I Use a Virtual Credit Card When Making Online Purchases?

Virtual Credit Cards are an option most people are not even aware exists.  In fact, a virtual credit card doesn’t really exist at all.  It exists only in the moment you are using it, which is a great security feature.  After all, what is there to steal if it’s not there in the first place?  Before we get all tied up in the concept of reality as applied to Internet buying, let’s discover what a virtual credit card is and what its benefits and drawbacks might be. 

There are many reasons you might want to use such card to buy things online.  The risks of identity theft and having your accounts emptied can be avoided through the use of these cards.  If you have doubts about using your credit card or account information when buying online, you might want to consider using a Virtual Credit Card.  Security is not a concern with this means of purchase.  The card only exists only in cyberspace.  There is no plastic cousin or brother associated to it.  You can only use it once and it expires in brief duration.  Therefore, your personal information is safe, since it has no association to the virtual card you’re using for an actual transaction.

These credit cards do come with their own set of restrictions.  You cannot use them offline because they are strictly web tools. 

These cards must be prepaid in full.  There is no payment plan.

The cards must be used within a limited payment.  You cannot make any transaction that takes longer than the life of the card to process.  Therefore, you might not be able to use one to book travel plans or concert venues.  For things of this nature, you’ll need to use a standard method of payment.

Virtual Credit Cards have only a prepaid value.  Any leftover amount is forfeit.  You load the card once.  So, it’s best to use the entire amount of your card in a single purchase.

You cannot use these cards in a store. 

You receive no statements.

Within their given confines, Virtual credit Cards are a good means of purchasing online.  The ease the concerns of shopping on the Internet and leave you free to browse sites and consider items without the concerns of having your identity ripped off or of being defrauded of your money.

By Lucille