Virtual Credit Card - What is it Really?
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.
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