Did you get that? A virtual credit card, now I know we’re seriously heading into a techno age. So what is a virtual credit card any way?

I must admit, it took me a little while to get my head around what made this card different, but once I did, I could kind of see why you would want to use it.

Here is what I found.

Purpose of the Card

The virtual credit card was created for customers who have problems using their credit cards for Internet purchases. I mean think of all the great offers you had to turn down because of this, well, now you have a solution.

If your country credit card is not recognised internationally, then you can use your virtual credit card to purchase items no matter where you are from. That sounds fair doesn’t it?

You may have had the experience where certain merchants reject your credit card for a reason you just can’t seem to understand. This too would be a thing of the pass. The virtual credit card would be accepted by merchants such as Skpye, Paypal, Net2Phone and even 2CheckOut.

I know many of you would identify with this one. Have you ever had trouble getting your credit card verified by PayPal? It can be so maddening at times especially if you have to pay for goods you need urgently. Well, get yourself a virtual card, you won’t have that problem any more.

Who’s It From

The virtual credit card is issued by TruCards and is drawn on a US bank. To apply you can visit the application page and sign up for an account. Once you have an account, you can check your balances and perform other account administration from there.

Get Your Hands on One

As the name suggests, the credit card is virtual, so you don’t actually receive a plastic card in hand. What you get is a VISA card by email (talk about utilising technology). If you are not totally comfortable with that arrangement, there is an option to request a plastic card. To get it you must apply for the ‘Classic MasterCard’.

Fees

I could not find information on the APR and amount of fees, but I do know you’ll have to be prepared for an activation fee as well as a loading fee which TruCards state ‘they have the right to change at any time’.

Where Can You Use Your Virtual Credit Card?

Because the cards are VISA and MasterCard Brands, you can use the cards wherever these logos are displayed. You should also know that this card is not linked in anyway to a bank account

I’ve Got Some Issues

Things seem to be looking good for this card, but I have some serious issues with it.

Firstly, in order to use your card you have to deposit funds into your account and you can only spend as much and up to the limit of what you deposit.

To top up your account, you’ll need to sign up for an E-gold account.

Secondly, this is obviously a prepaid card, which acts like a debit card in my opinion. You can’t spend any money unless you make a deposit to your account. Why call it a credit card then? I’ll never pay for anything on credit. It’s actually my money I am spending.

Finally, the virtual card is valid for two years and you must spend all your money by that time or guess what… it too becomes virtual.

Oh well for the purposes I mentioned before, I guess it would work for you if you are faced with one of those situations. Other than that, I don’t see someone with a widely accepted credit card rushing to get this virtual credit card.

If the virtual credit card is not for you and you want to check out other offers on the market. Why not take some time to search and compare other credit card offers.