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  • Virtual Credit Card (VCC)

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    As the name suggests, a virtual credit card (VCC) is a new-age and a one-time use credit card that has no physical existence. And because it has no physical form, the card is used for carrying out online transactions only.

    Today, virtual credit cards are provided by most major credit card issuers to their customers as an add-on card on their primary cards.

    Like physical credit cards, a virtual credit card has its own unique card number, validity date, the expiry date, and the CVV number which are visible online. You can also set your own spending limit on the virtual credit card. However, these cards may usually have a very short validity.

     

    Benefits of Using Virtual Credit Card

     

    A virtual credit card comes with a good number of benefits and the most significant ones among them have been listed below:

    Convenience: Because the virtual credit card doesn’t have any physical form, its details can be saved on your mobile phone and the same can be used for carrying out transactions. Thus, the hassles of carrying physical cards are entirely eliminated.

    Security: Because you don’t have to swipe the virtual card to make payments, it’s nearly impossible for miscreants to carry out fraudulent activities with the card. Also, the governing body for virtual credit cards in the country is the Reserve Bank of India (RBI). To get a virtual credit card, you have to submit the KYC documents and the issuer needs to approve them.

    The option of setting the limit: You also get the chance to set the limit on your virtual credit card and the payments would be authenticated by one time passwords (OTPs) sent on your registered mobile number.

    Easy cancellation: If for any reason, you have to cancel the card, you can do it effortlessly through your smartphone.

    Difference between Debit Card, Credit Card and Virtual Credit Card (VCC)

     
    Terms Debit Card Credit Card Virtual Credit Card (VCC)
    Form Physical (plastic) Physical (plastic) Digital (no plastic)
    Credit Not available Extends credit Extends credit
    Usage Can be used for both online and offline purchases Can be used for both online and offline purchases Can be used for online purchases only
    Security The card is safe to use and can be blocked by the user by raising a request The card is safe to use and can be blocked by the user by raising a request The card is safe to use and can be blocked by the user by raising a request
    Transaction amount The amount is debited from your current or savings bank account The amount is debited from the credit limit on your credit card account The amount is debited from the credit limit on your credit card account
    Validity Usually valid for a few years Usually valid for a few years Usually valid for 1-2 days
    Number of transactions Unlimited Unlimited Can usually be used only for once
    Associated fees and charges Fees and charges involved Fees and charges involved Usually no fee or charge
     

    Reasons to use a virtual credit card

    The primary reasons to opt for a virtual credit card is to pay for your online transactions. It’s safe to use a virtual credit card and the chances of frauds are nearly zero. Also, because there is no physical card involved, the associated hassles are grossly cut down.

     

    Virtual Credit Cards Offered by Different Banks

     

    Virtual credit cards in India are provided by banks as well as Non-Banking Financial Companies (NBFCs).

    Here are a few top Virtual Credit Cards offered by major banks in the country.

    • HDFC NetSafe
    • SBI Virtual Credit Card
    • Kotak Mahindra Bank Netc@rd
    • ICICI Bank Virtual Credit Card
    • Axis Bank’s Purchase Control Virtual Card

    Here are a few top Virtual Credit Cards offered by NBFCs.

    • Entropay Virtual Credit Card
    • Payoneer Virtual Credit Card
    • Oxigen Wallet Virtual Card
    • FreeCharge Go MasterCard
    • Slonkit Prepaid Wallet
     

    FAQs on Virtual Credit Cards

     
    Can I use my virtual credit card for offline transactions?

    No, since virtual credit cards do not have any physical existence, you cannot use them for offline or POS transactions. They can only be used to transact online.

    How do I get a virtual credit card for myself?

    If you have decided to apply for any particular virtual credit card, contact the bank or the NBFC that is offering the card and ask them to guide you on the application process.

    Can there be a virtual credit card for add-on cardholders as well?

    No, at present, virtual credit cards are issued only to primary cardholders and not to add-on cardholders. However, to know the exact status, check with the card issuer once.

    Can I use my virtual credit card for international transactions?

    Whether you can use your virtual credit card for international transactions or not depends on the issuer of the card. So contact the card issuer and inquire about the same.

    Do I need to pay any amount if I apply for a virtual credit card?

    Usually, most virtual card issuers don’t charge their customers for issuing a virtual credit card. However, contact the card issuer and inquire about the same.

     
      

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    Credit Card Reviews

    • SBI Cards Credit Card
      "Good card for bigbazaar"
      0.5 5.0/5 "Blown Away!"
      In any bigbazaar outlet,i get a 10% off in all kind of products like fashion, apparels and i can use the rewards points for my transactions. They have provided me a limit which is not satisfied as per my expectation its low. They are charging Rs. 500 as a card fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • SBI Cards
      SBI Cards Credit Card
      "Better card"
      0.5 5.0/5 "Blown Away!"
      SBI card is really good. They have a flexi pay options which is EMI but in SBI its different because they don't charge lot of interest. The provided me a card protection plan along with the card. I can buy different products by using the rewards points. I get a loan as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • ICICI Bank Credit Card
      "Good card for entertainment, travel and shopping."
      0.5 5.0/5 "Blown Away!"
      ICICI is providing different kind of features like if i book ticket in bookmyshow, i get 1 ticket free. I am getting cashcack on train ticket and flight tickets. The points are directly connected to the paybacks and those points can be used in a different platforms. The main advantage of the card is there is no annual fee. Its provide a free domestic airport launch access.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • HDFC Bank Credit Card
      "Good cashback card"
      0.5 5.0/5 "Blown Away!"
      HDFC bank is providing good cashback and offers. If i use Rs. 100 from credit card, they provide Rs. 1 as a cashback. Whenever any problem occurs like fraudulent, i can contact them easily and the customer care service of HDFC bank team is really good. From the mobile app, i could see the outstanding amount and unbilled amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • Bank Bazaar Credit Card
      "Good platform to check about the financial things"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar people are good in communication and if i have any problem, bankbazaar people provide the solution very fast. I got a call from one of the executive when i was searching for the good offers in credit card and personal loan. Another advantage of the website, i can check my credit score with a free of cost. In the playstore, i have a downloaded the mobile app and i love it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • IndusInd Bank Credit Card
      "Card is giving exciting offers"
      0.5 5.0/5 "Blown Away!"
      I had applied th Indusind Aura Edge credit card and the executive called me and asked me the information about the proof details after that i didn't receive any message regarding the card delivery but i have received a mail by mentioning the card number and its offer when i tried to reach with the customer care i was not able to provide the card number hence i got disconnected from IVR itself.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • HDFC Bank Credit Card
      "Everywhere accepted card"
      0.5 3.5/5 "Pretty good"
      I haven't call the customer care regarding any enquiries because i will do my transaction and enquiry through online banking. The interest rate is bit high which is 14% and above. Till now i didn't get any benefits and in this 5 months, i have shopped around Rs. 60000. I have a Titanium times card with me which i want to upgrade as a rewards card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 22, 2019
    • RBL Bank Credit Card
      "Not good as other cards"
      0.5 3.0/5 "Satisfactory"
      Compared to other card, RBL card is little more expensive because i have to pay annual fee on this card if i don't spend some specified expenditure. In my petrol, if i buy Rs. 500, they will give the petrol sur charges waiver. I'm using the card for last 4 month and the given credit limit is Rs. 45000 which is convenient for me.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 22, 2019
    • HDFC Bank Credit Card
      "Good and first card"
      0.5 4.0/5 "Great!"
      Since last 2 years, I'm holding the HDFC credit card. The card variant is regalia. When i fill the petrol, i get some money return back to my account. They have not increased my credit limit so far. I have not faced any issue so far hence no experience of speaking with the customer care executive.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 22, 2019
    • SBI Cards Credit Card
      "Good Card"
      0.5 5.0/5 "Blown Away!"
      Using my SBI card for almost 1 year. I have a FBB style card hence i don't get much benefits on this card. They have provided me a credit limit of Rs. 56000 and there is no yearly charges. They sending the statement to my mail id but I'm unable to open it because i forgot the password. Hence by seeing the messages, I'm making the payment every month.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 22, 2019
    • Citibank Credit Card
      "Better"
      0.5 4.0/5 "Great!"
      I had a REWARDS credit card with Citi Bank for more than 25 years. They have provided me a credit card loan and later have surrendered the card to the bank. The annual fee is applicable and they have charged me Rs.750 per annum. The credit limit is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • HDFC Bank Credit Card
      "Not good"
      0.5 3.0/5 "Satisfactory"
      I have surrendered my HDFC credit card because I don't want to use it further. I had the credit card for more than 15 years. There was nothing special benefits. The credit limit is only 60K which was not satisfactory. The annual fee is not applicable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • IndusInd Bank Credit Card
      "Un happy"
      0.5 3.0/5 "Satisfactory"
      Recently I am using Indusind Bank credit card but am not satisfied with the services. They are harassing the customer for the delay payments and the charges are very higher. They have given me a life time free credit card. Its been more than 5 to 6 years. The credit limit is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2019
    • Kotak Credit Card
      "Good Card"
      0.5 5.0/5 "Blown Away!"
      The service of Kotak Mahindra credit card is good, I am holding this card around four years. They are providing lots of features and the credit limit is good. The yearly interest is also nominal, some time I get movie ticket offers not regular basis on saturday or sunday.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 22, 2019
    • SBI Cards Credit Card
      "Better"
      0.5 3.5/5 "Pretty good"
      I had a credit card with State Bank of India which I have closed recently because to reduce down my usage and I did not face any issues. It was a Simply Save credit card and they are charging me annual fee of Rs.500. I have contacted the customer service and got a proper response for card deactivation.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 22, 2019
    • ICICI Bank Credit Card
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am using ICICI Platinum credit card for last 2 years. The credit limit is less at the beginning and then they have enhanced my limit more than 10K. But still the limit is average, it would be great if they can increase my limit. I tried for EMI conversion but the response was not prompt.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 22, 2019
    • RBL Bank Credit Card
      "Need overall improvement"
      0.5 3.5/5 "Pretty good"
      I am holding RBL card, there is no one stop solution in the mobile app, its not updated on the time it has so much buffering. They need develop their server. I didn't get any reward points and cash back so they need to concentrate on the offers as well.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 22, 2019
    • HDFC Bank Credit Card
      "Good"
      0.5 3.5/5 "Pretty good"
      My credit card with HDFC BANK has been canceled because the payments which has been charged, I could not pay it once. Their customer service is good. It was a Jet Privilege card and there was no much benefits because am not flying in the planes till today. I did have a JP miles account and never used it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2019
    • ICICI Bank Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I am using ICICI credit card and they are charging so much which am not happy. Its almost more than 1.5 years. I am most happier with when I started using it was good and the credit limit is very low may be because of my salary and eligibility. It has option for flexi pay and I done it many times.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2019
    • RBL Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have Ratnakar Bank credit card which was applied through Online .I have got the credit card details clearly through the agent .I am using this credit card for the past 5 years and this was a free card .The credit limit was good and satisfied as well ,This credit card is very useful and accessable on all places .
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2019
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