How do Virtual Credit Cards work?
When it comes to credit cards, everyone thinks of the plastic card first. But virtual credit cards are getting more and more popular as an easy way for instant payment, online shopping or as gift cards. With the introduction of easy online payments through PayPal and the like, virtual credit cards with credit limit are an easy way to get going instantly.
Today we're showing you some of the best options you have when you're looking for a good virtual credit card in Germany and abroad. Whether you need a credit card number to finish an online purchase or are looking for a good bank account that offers virtual cards, we have several options available. But first, let's take quick look at how an online card actually works.
The 3 things you should know about virtual credit cards
1) What's included:
A virtual credit card is not a physical card and only contains the most important information like the credit card number Credit Card Number, the card security code (also known as CVV or CVC), the expiration date and the credit card issuer, like VISA or Mastercard. A personal pin or a name is not always included since you won't use the card at an ATM.
2) How to get one:
Similar to the way a Paypal account can be set up in just a few minutes, a virtual card comes with the same advantages. Usually you receive the required information for a purchase digitally, either through an email or in the banking app. That also means that you can use the card instantly since you don't have to wait for it to physically ship to your location.
3) What you can with it:
Some of the newest providers allow you to get a credit limit on your card, which makes the virtual card not just a prepaid card that you have to top-up first, but like an actual credit card. This allows you to use the card for any kind of online purchase like Amazon, Netflix or even Uber. Depending on your credit history, the information you provide when you first register and how much (or little) you use the card, you can increase the limit gradually.
A virtual VISA in the DKB phone app with card number and expiration date.