The Advantages Of Virtual Credit Cards

A credit card is an exceptionally convenient alternative for paying cash for the purchases made via the internet but due to an increase in the identity theft and internet fraud many people prefer not to make online purchases using credit cards. However, thanks to the virtual credit card it is now possible for everyone to shop online without getting scammed.

Virtual credit cards, commonly called substitute credit cards have single use numbers that have an imminent expiration date, usually within one to two months. Virtual credit cards give protection to one’s personal information such as original credit card number, social security number, date of birth and address. As the virtual credit card can be used only for single purchase the customer has to get a new random number every time he/she wants to do online shopping.

While using virtual credit cards, the merchant never comes to know the original account number. The number and personal details remain as confidential information between the customer and the bank and even if the card falls into wrong hands it is of no use to the scammers as it expires quickly and the number can only be used for a single purchase.

Most of the financial institutions offer virtual credit cards and like any other card the customer is protected from unauthorized purchases while using this controlled payment method. One can get the substitute credit card number by opting for virtual credit card in his/her online account.

This is probably the safest way to make purchases online as it provides greater control over the payment and protects the personal information. However, one cannot use this number to auto pay the bills or to confirm the airline and hotel reservations as the virtual credit card numbers do not exist outside the internet. To find one that suits you needs you can simply go a quick search on the Internet, but be sure to compare the charges incurred by a few issuers to make sure you get the best deal.