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What is a virtual credit card and what are its advantages?

While you can carry a credit card in your wallet, a virtual credit card is an online card that comes with similar functions, but without a physical form. As such, credit card providers issue the same keeping in mind their ease of use when making online transactions.

More so, it is a credit card number issued along with a CVV and an expiry date, thus ensuring security during payments. Many card issuers also provide an online virtual credit card with a one-time usage facility along with the primary credit card they issue.

Now that you know what is a virtual credit card, check out the advantages it brings along.

Advantages of a virtual credit card:

  • i. Improves transactional security

    Being a virtual card, its chances of theft or misuse reduces. Also, lenders issue it for a specific period of 24 to 48 hours, which further increases its security. With some, you may also cancel them if not needed.

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  • ii. Any remaining balance is transferred to the primary card on its expiry

    If an amount from the available credit limit lies unused, it is transferred to the credit limit of your primary card.

  • iii. You can get it free of cost

    Virtual credit cards are issued only to the primary credit card holders and not the secondary ones. Hence, the risk of security breach further reduces.

  • iv. You can get it free of cost

    Most of the card issuers offer this virtual financial tool at no extra cost. Therefore, you don’t need to pay any additional fee to avail the same.

While the benefits of virtual credit card make it a useful credit instrument for online transactions, you still need a physical card for various other transactions.

You should, therefore, look out for options that bring exclusive features like emergency personal loans, interest-free cash withdrawal, effortless conversion to EMI, etc. Bajaj Finserv RBL Bank SuperCard is one such instrument that comes with these industry-first features. To apply for it, you may check your pre-approved offer that enables signing up for the same with one-step verification.

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