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Virtual Credit Cards - The Right Help on the Proper Time
We all very well know how 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 definitely are available in handy. Nowadays, people use their cards for online transactions on a daily basis. With the rise in on-line transactions, there has also been an equal rise in fraudsters taking a hold of and misusing shopper's credit card information.
As a lot as possible we attempt to use our cards in safe websites, but generally there are cases after we are required to make use of unsecured web pages. And utilizing our credit card info in such pages is highly risky. Which is why banks have found a way spherical this and are available up with a wonderful answer called - virtual credit cards.
How do they work?
These virtual cards are issued by a number of well-liked banks.
Only a main card holder can make use of this facility and add - on card holders can't avail this feature.
They've a limited validity - not more than a number of days. Since they're usually used to make only one-time transactions.
A separate set of credentials akin to card number, cvv number and so on is assigned to this virtual card. These are the small print you will need to enter once you need to use this card.
There are certain minimum and most limits assigned to your virtual credit card.
Money from your account is transferred into this card when you need it. And if there is any cash remaining after your transaction, it is transferred back into your account.
These cards are simple to create and use, as all the process is done online. All that you must 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 after all! You by no means should reveal the precise details of your credit card or debit card account details.
There is a one time password that will be issued to you, this is the main reason why there may be little room for anybody else to misuse your card.
The quantity from your account will be debited only when you make an precise purchase using the virtual card.
You may even create a virtual card using your debit card.
You don't even have to own an actual credit card, all you want is an active bank account with sufficient balance and a net banking facility with a view to make use of this feature.
Now you know you can easily keep away from the treacherous credit card debt, and on the same time not lose out on the advantages of digital money. Go ahead and get your self a virtual card at this time for easy as well as safe transactions.
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