Virtual Credit Card (VCC) (a prepaid credit card) is a credit card number that is generated electronically and can be used for online purchases. It is almost similar to the traditional debit card, but not in a physical form. The money from the virtual credit card comes from the money already deposited in your primary account. The card can be created instantly. This article will show you where and how to get a virtual credit card.
Virtual cards can be used multiple times until the expiration date, balance, or a specific limit set by the card issuer. Some virtual cards are disposable virtual cards, which means they can only be used once, and then they are deactivated.
How to get a Free Virtual Credit Card
- You can get an instant virtual credit card for free with providers such as Neteller, Ezzocard, and Skrill. Check out more Credit Card Without Bank Account Providers.
- Curve is a great offer, which combines all your bank cards, credit cards and gift cards in a single card and allows you to use them from a single place through an app. But to start using Curve, you first need to verify your identity (which requires a small fee) and link another credit card to your Curve account.
- Other providers such as Payoneer, and Revolut also offer virtual credit cards and come with a free bank account you can use freely for topping up or making payments.
How Does Virtual Credit Card Work?
A virtual card works the same way as a physical card, only that it is created online. It usually comes without extra costs other than topping up. Virtual cards tend to be more secure compared to physical cards, since merchants cannot access your information. Since you do not necessarily need to link your virtual card to your bank account, it is more secure. Most providers also offer you the option to freeze the card when not using it or set spending limits, making sure only payments you have unauthorized are deducted.
To generate a virtual credit card, you can choose to do it through your credit card issuer, a virtual credit card proviers, or a mobile app. The process of generating a virtual credit card varies depending on the provider you choose.
Find out: Virtual US credit card for non-residents
Best Virtual Credit Card Providers
Virtual credit cards are gaining popularity due to their convenience and security features. Thankfully, there’s now a plethora of options available for obtaining them. Here are some of the best VCC providers worldwide.
Revolut Virtual Card
Revolut offers virtual credit cards to its existing customers in Poland, Lithuania, the United States, and Ireland. These cards offer cashback rewards for all purchases, with additional cashback when used with participating retailers through Revolut Rewards. They also come with travel insurance and shopping protection benefits.
Privacy Virtual Card
Privacy.com offers virtual credit cards to legal residents of the United States at this time. At the moment, Privacy does not support international bank accounts or non-US users. The company does not charge any interest or annual fees, it makes money from the fee that the merchant pays for accepting a debit or credit card.
Ezzocard Virtual Card
Ezzocard offers virtual credit cards without verification. They are issued by banks in the United States and Canada. The cards are completely anonymous since neither ID nor any other documents are required during registration on the website. You can apply for Ezzocard worldwide, irrespective of your country of residency. The cards (Visa or Mastercard) can be used to verify personal PayPal accounts and other similar platforms.
Netspend Virtual Card
Netspend is one of the best virtual accounts for US residents who are starting a freelance business. It offers virtual Mastercard and Visa cards. To get this account, you need to submit an online application. You can transfer money onto your card from any bank in the United States. The account will also allow you to receive PayPal funds and direct deposits. The main advantage of this account is it there are no monthly fees.
American Express Go Virual Card
American Express Go/Amex Go is a virtual credit card targeting companies. Amex virtual redit card allows company staff and freelancers to make payments and manage spending. The virtual cards can be used wherever American Express is accepted. With Amercian Express Go, there is an option to reuse the virtual Card at a later date.
Pex Card Virtual Card
Pex Card is only available for businesses and organisations. The downside of this card is there are no free accounts. You will be charged setup fee, monthly fee and additional card account fee. There are three types of pricing; business pricing, non-profit pricing and ambassador pricing.
Payoneer Virtual Card
Payoneer virtual credit card is one of the best option for online freelancers. The Payoneer virtual credit card is only available with select Payoneer mass payout companies such as iStock, Upwork and Airbnb. In order to check if your Payoneer mass payout company provides this option, you need to log in to your account with your mass payout company and check if the “Payoneer Virtual Card” is listed as one of the payment methods.
Neteller Virtual Card
Neteller virtual credit card lets you make fast and secure online payments where MasterCard is accepted. It is a virtual credit card for business and individual use. With Neteller, you are able to own up to 5 virtual cards, each with its own currency and name. The virtual card is not available to residents in the United States and many other countries.
Skril Virtual Card
Skrill (formerly Moneybookers) is a business that allows online payments and money transfers. The company offers Mastercard virtual credit cards that can be used to make payments in PLN, GBP, USD or EUR to residents of countries in the European Economic Area (EEA).
Quick Facts About Virtual Credit Cards
- A virtual credit card is not a physical card but simply a credit card number.
- Virtual credit cards have a 16-digit number, CVV number, and an expiration date.
- They use the same globally trusted and recognized names like MasterCard, Visa, etc.
- They are safer than physical cards.
Advantages of a Virtual Credit Card
A virtual credit card comes with many advantages for the user. We will list a few of them.
One of the main benefits of a virtual credit card is security. Since a virtual card is a set of 16 randomly assigned numbers, your bank account and personal data such as name and address are never shared with online merchants, therefore reducing online fraud risks. Your money will be safe if there is a data breach on a website you have used the card to make a purchase. With incidents of card cloning (skimming) on the rise, a virtual credit card is a safer option.
Virtual credit cards are flexible when it comes to spending limitation and choice of currency. With this type of card, you can set up a limit of how much can be spent. This feature is ideal for companies in order to control how much employees spend on companies’ cards. It ensures better control and management of funds. Some virtual cards are available in several currencies, so you can choose a currency even if it is not your local currency.
These card do save time to the user as well. Applying for a virtual credit card is simple and instant. You don’t need paperwork. It is completely done online. Apart from saving time, you also save money. We all want to save money in any service we use. Most virtual credit cards are cheaper than physical cards. In addition, there is no cost for delivery since they are virtual.
Disadvantages of a Virtual Credit Card
There are a few disadvantages to this type of card that you need to know. A virtual credit card doesn’t earn interest on your money or get you discounts on purchases. There is no credit check when applying for one, therefore the card will not improve your credit score. So if credit score is important to you, this won’t be a good option.
Being a virtual card, you can only use it with online merchants. Therefore, transactions at a point of sale or ATMs are not possible. Moreover, not all online merchants accept virtual cards. You are also limited in terms of the duration of use because usually it has to be used within 24 hours and will expire within a month if you don’t use it. Another thing to consider is that most online merchants, once you have made a purchase, it is very difficult to cancel and get your money back. Most merchants are able to give your money back using the same card number, which, in the case of a virtual card 24 hour limit, may have expired.
Read: Disposable virtual cards
Virtual Cards Fees
Some virtual card providers charge a fee for every card you create, a monthly fee, transaction fees, foreign transaction fees, cancellation fees, etc. Other providers provide free virtual cards for you to create and use. In short, fees associated with virtual cards can vary widely depending on the provider and the specific type of virtual card. Make sure you find out all the fees involved before you sign up for a virtual credit card.
Get a Virtual Credit Card for Safe Online Shopping
A virtual credit card is a digital version of a physical credit card. It is generated by a bank or virtual credit card provider and can be used to make online purchases. Virtual credit cards offer a number of advantages over traditional credit cards, including security and spending control.
You can get a virtual credit card instantly with the virtual credit card providers listed above and secure your online transactions as well as be able to conduct PayPal verification. Make sure you get all the details regarding fees, number of cards you can create, acceptable currencies and countries where you can use them.
Virtual Credit Card FAQs
What is a virtual credit card?
A virtual credit card is a digital or online payment card that is not physically issued as a plastic card but exists only in digital form.
How do I use a virtual credit card?
To use a virtual credit card, you will first need to sign up with a virtual credit card provider. Once you have signed up, you can create a virtual credit card and get a unique card number, expiration date, and CVV that you can use to make online purchases.
Where can I get a virtual credit card?
You can get a virtual credit card through various sources, including traditional banks, online virtual card providers like Ezzocard, Skrill, Netspend, and Privacy.com.
Where can I use a virtual credit card ?
A virtual credit card can be used primarily for online transactions, including online shopping, subscription services, travel bookings, app stores, and digital wallet payments.
Are virtual credit card safe?
Virtual credit cards are generally safe and secure payment option because they offer a number of security features that can help protect your personal financial information.