Virtual Credit Cards: A Cure for Credit Card Identity Theft

Millions of people worldwide have become identity fraud victims. Because of this, consumers have become careful of protecting their private information, including their charge card numbers. In order to avoid becoming victims of identity fraud, there is an option available for you - virtual cards for shopping in a very virtual world.
Virtual cards have a group of numbers to replace your real card numbers. The replacement numbers are used to make purchases online. Sometimes, replacement numbers are termed "single-use card numbers."
At present, charge card companies Discover, Citibank and MBNA offer these types of services. Discover's program is known as "Deskshop." That of Citibank is termed "Virtual Account Numbers." MBNA's protection program is termed "SafeShop." Currently, these businesses offer the program totally free. They simply wish to supply you with some "satisfaction." You can just register at the card company's website in places you will receive a pc generated, 16-digit number as your replacement numbers.
Virtual cards work much the same just like regular charge cards. However, it's several distinguishing features.


You can setup your spending limit using the virtual one given it works like a prepaid card.

There is minimal possibility that your plastic can be utilized fraudulently must be new number is disseminated to you personally every time you use it.

You have the option to set an expiration date provided this doesn't happen go beyond the expiration date of the real one.

Only you, the holder and the issuer have access to the real numbers.

In spite of the convenience made available from virtual cards, they cannot come without drawbacks. Some of the more prevalent problems related to prepaid cards are highlighted below:

They cannot be useful for offline transactions.

They have limited use for online purchases because you will be needed to show the actual plastic card to finish certain transactions.

They have relatively short expiration dates.

Processing of transactions while using the virtual card is slower compared with using the real one.


Virtual cards can be employed for transactions where the genuine cards are accepted. These transactions include internet shopping, online bills paying, shopping by mail, and shopping on the phone. However, you need to know that you is going to be needed to show the true card when you get your orders.
Credit cards are simply one with the most vulnerable areas for identity thieves to strike. Thanks to virtual cards; they have grown to be a virtual reality in places you can have protection and peace of mind while experiencing the capability of online shopping.