NEWS & ADVICE : CREDIT CARDS
Virtual Credit Card- Know all about it!!
By Ankit Sharma
Print    Email    RSS   

Can Virtual Credit Cards be created using a Debit Card?

The answer is ‘Yes' for most of the banks. Even if one just has a debit card and not a credit card, they can use their debit card to create a virtual card online. In the recent times, people want to transact online always, but there are times when they do not hold a credit card. But now it is easier for them as they can they can now create a Virtual Credit Card and use it to transact online.

Refund from the merchant site

In some cases, it might happen that users get a refund of the amount paid through VCC to the merchant site. This may be because of some defect in the product or due to some problem in the services or it can be any other situation. As, the payment was made through VCC (which has already expired as it has been used once), users can get the refund back. The refund will automatically be credited to the user's main card.

In the case where the VCC is not fully utilized, the balance amount of the VCC gets credited to the main card within a certain period of time, as per the bank's policy. For example, if a VCC is generated for Rs. 1000 and it is used only for Rs. 800, then in that case the remaining Rs. 200 will be credited back to the user's main card and the VCC will lapse.

Conclusion

The VCC technology is fairly new in India, though it has been around for several years in abroad. Now by using the VCC, credit card holders can be completely assured that their credit card details are not falling in wrong hands and they can easily avoid credit card frauds and phishes.

 

 


Page    | 12 |
(Comments Posted : 26) Post Your Comments
1. We give Credit Personal Loans, you can get instant loan/money for a wide range of your personal needs like renovation of your home, marriage in the family, a family holiday, your child's education, buying a house, medical expenses or any other emergencies. With minimum documentation, you can now avail a personal loan at attractive 3% interest rates. This is trust and honest loans which you will not regret, Contact us via Email:barclayfinancialgroupfirm9@gmail.com

Your Full Details:
Full Name. . .. . .. . .. . .. . .
Loan Amount Needed. . ...
Loan Duration. . .. . .. . .. . .
Phone Number. . .. . .. . ..
Applied before. . .. . .. . ..
Country. . .. . .
Email Us:barclayfinancialgroupfirm9@gmail.com
Barclay Finance (Posted: Jun 28, 2017)
2. We offer the following types of loans: *Commercial Loans. *Debt Consolidation *Personal Loans. *Business Loans. *Investments Loans. *Development Loans. *Acquisition Loans. *Construction loans. *Business Loans And many More: contact us via Email:barclayfinancialgroupfirm9@gmail.com
Barclay Finance (Posted: Jun 28, 2017)
3. We offer financial service of any reason,finance to start business,paying of bills all kind of financial assistance unsecured funds without stress and quick to honest and reliable individuals and companies globally at 3% interest rate. Here is the solution to your financial problem, contact us today via email: ds.kanke@gmail.com
Hafiz M kanke (Posted: Jun 22, 2017)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Credit profile and its effect on loan...
Credit card or debit card: Which one...
Rupeetimes guide to different types of...
How to select a co-branded credit card?
Spoiled credit history? - Get a secured...


how to check my account
एक बार यह उपाय कर...
देखने से ही वशीकरण...
How can I clear my CIBIL PROBLEM?
what is my credit card statement
i forgot my ATM pin number i could i get it again

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive