Monday 5 May 2014

Everything you Needed to Know about Virtual Credit Cards (VCC)

A virtual credit card or VCC is a type of disposable credit card with which online shopping can be done. Like normal credit cards, these also have a virtual credit score and there are two types of VCCs. They are:

•    The first type is the one that can be used only once and is not reloadable. The expiry date of this is within two or three months from the date of purchase and it has to be used with a day.

•    The second type can be used multiple times and is reloadable. This expires after one year and can be used any number of times within that period.

Unlike the bank credit cards, VCC does not have a plastic existence and all the card information is available online.

Benefits:

The key benefit of having a virtual credit card is that we can shop online without sharing or revealing our original card number. You can use the VCCs any number of times as long as you have balance in it and it guarantees a safe and secured way of online shopping without having to worry about your bank details being revealed. You can use a fake name and a fake address as well and do not have to worry about hackers. We all know how hackers and scammers are causing problems in the cyber world and by using a VCC you will be saved from that as this has nothing to do with your own bank account.

There are quite a few people who are against the use of credit cards and they have their own reasons for that. VCCs are perfect for such people as you need not worry about anything before using them like virtual credit score etc. Moreover, there is no debt involved unlike credit cards as it is prepaid system and you can use it accordingly. You have to load a VCC first in order to make any kind of transaction.

For more details, please visit here.

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