Because credit card misuse and theft are on the rise, e-commerce purchasing should be careful. The security aspects of virtual credit cards have helped them become more widely accepted. Hackers can still penetrate the security measures used by internet retailers. The greatest solutions for both personal and commercial use are highlighted in this blog’s overview of virtual credit cards.
What Is a Virtual Credit Card?
A virtual credit card is a special card number connected to your main credit card account that enables you to use a separate card number for every retailer you make purchases at. This establishes spending caps or expiration dates for each card and stops fraudsters from obtaining your primary account information. Virtual credit cards provide additional security for online purchases as well as ease of use in maintaining and controlling expenditure per card number.
Top 5 Virtual Credit Cards for Personal Usage
To protect your data while shopping online, consider using the best personal virtual credit cards. Citi, a subsidiary of Citigroup, and Capital One, a subsidiary of Eno, offer full-service virtual credit cards for personal use. Other issuers like American Express and Chase also offer virtual credit card solutions for personal use, but they are not virtual credit cards.
- Citi Premier Card – The Citi Premier card is a great credit card for regular purchases because it allows you to make virtual credit cards sans paying a monthly charge. Through the Citi website, users may sign up for virtual credit cards and earn up to 3x ThankYou Points on purchases—3x points for every $1 spent on airfare and 1x points for every $1 spent on all other purchases. For a better deal, ThankYou Points can be transferred to travel partners. Furthermore, when booking through thankyou.com or 800-THANKYOU, the card gives a yearly hotel savings advantage of $100 off a stay of at least $500. Both international transaction fees and authorised user charges are absent.
- Citi Double Cash Card – With Citi’s Double Cash card, customers may earn up to 2% cash back for every dollar spent and take advantage of a virtual credit card number and 0% debt transfer APR. The card offers cardholders the option to transfer their ThankYou Points to Citi’s travel associates, earning those 2x ThankYou Points and providing a 3.2% return on spending. This card is a fantastic option for consumers looking for incentives and a virtual credit card number because it has 0% fraud responsibility, access to Citi Entertainment, and no authorised user charges.
- Capital One Venture X Rewards Credit Card – Users of the browser extension and mobile app Eno from Capital One can safely purchase digitally using virtual credit cards. Eno gives consumers the option to secure their online shopping by locking, unlocking, or deleting virtual cards. The Capital One Venture X card provides many advantages, including 10x miles for every $1 spent on lodging, 5x miles for every $1 spent on travel, and 2x miles for every $1 spent on all other expenditures. Additionally, the card offers an annual travel credit of up to $300, 10,000 extra miles, access to airport lounges, and a $100 credit for Global Entry/TSA PreCheck. It also offers free Hertz President’s Circle membership, premium travel insurance, up to 4 authorised users, and cell phone insurance.
- Capital One Venture Rewards Credit Card – The Capital One Venture card, a sister of the Capital One Venture X card, provides a welcome bonus, easy structures, and the ability to create virtual credit cards. On all transactions, it earns 2x miles without limit, and on accommodations and rental vehicles booked through Capital One Travel, it earns 5x points. Additionally, it offers strong travel insurance, no foreign transaction costs, and up to a $100 application fee credit for Global Entry/TSA PreCheck.
- Capital One VentureOne Rewards Credit Card – The beginner-level Capital One VentureOne card offers virtual credit cards through Eno and is part of the Venture family of products. This card offers a 0% APR advantage, no foreign transaction fees, and the opportunity to transfer miles to travel partners while earning 5x points on hotels and rentals and 1.25x miles on purchases.
Top Amex Personal Cards with Click to Pay
American Express offers Click to Pay, a digital payment option that ensures the purchasing of personal products, in collaboration with Visa, Mastercard, and Discover. A genuine virtual credit card number is not provided by Amex cards, unlike those from Capital One and Citi, even though some Amex cards do offer further security. Despite this, American Express offers enticing incentives and privileges, so it’s worth taking into account for purchases of personal goods.
Please find below a graphical representation that summarises Top Amex Personal Cards with Click to Pay.
Top 5 Virtual Credit Cards for Business Usage
Virtual credit cards from American Express and Extend are now available to company owners, offering a safe and effective way to manage vendor payments, monitor bill-back charges, and manage staff cards and spending. For business owners, this cutting-edge technology improves security and expense control. Users can generate up to 100 distinct virtual cards for a list of persons by choosing one of four card creation options: Standard Card, Auto-refill Card, Guest Access Card, or Advanced CSV Upload. While Citi and Capital One provide virtual credit cards via Eno, Amex furthermore provides American Express Go for business cards. The collaboration between American Express and Extend serves as an example of the B2B market’s potential for virtual cards.
Virtual Credit Card Drawbacks
Prominent disadvantages of virtual credit cards include the need to use the original payment method when returning things to a real store. As a result, you might decide to take shop credit rather than reimbursement. Virtual credit cards also call for keeping track of account numbers, expiration dates, and spending caps. When utilising virtual credit cards at an actual location, it is critical to take these downsides into account.