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 : 21) Post Your Comments
1. Do you need a quick long or short term loan with a relatively low interest rate as low as 3%? We offer business loan, personal loan, home loan, auto loan, student loan, debt consolidation loan e.t.c. no matter your credit score. We are guaranteed in giving out financial services to our numerous clients all over the world. With our flexible lending packages, loans can be processed and transferred to the borrower within the shortest time possible. We encourage you to contact us and learn more about the loans service we offered. If you have any questions or want more information about our company, please do not hesitate to contact us with your interest TODAY via E-Mail: worldwidefundservice@gmail.com
Marzouq Majeed (Posted: Apr 24, 2017)
2. Are you searching for a very genuine loan at an affordable interest rate of 3% process and approved within 2 working days? Have you been turned down

Constantly by your Banks and other financial institutions because of bad credit? Loans ranging from $5000USD to $20,000,000USD maximum LOANS for Developing

business a competitive edge / business expansion. We are certified, trustworthy, reliable,efficient, Fast and dynamic for real estate and any kinds of

business financing. Contact us for more details and information.

Thanks & Regard
Email Us: trustfinancialservice@yahoo.com
Tell: +91-7219037911
Eric Solomon (Posted: Mar 30, 2017)
3. loans from 3,000 eur to 500,000,000 eur. are you interested in a loan without collateral? do you need loan for business or for personal use? you can apply here today at 3% interest per annum. kindly fill the information below

name:
loan amount:
loan duration:

email: 2324company@gmail.com
Viber : +18328191150
Marjan Tetickovic (Posted: Mar 16, 2017)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #1
Understand Your Credit Card Statement
Spoiled credit history? - Get a secured...
A chronicle of excesses by loan recovery...
Must have add-ons for luxury car insurance


I want my credit card statemet
i forgot my userid for sbi credit card how to open...
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
how to improve my CIBIL score???

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