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Here’s how a virtual credit card helps you

The e-commerce industry in India is making incredible progress. This has resulted in increased consumption and a massive spike in the use of payment cards. However, it also calls for secured payment modes, and a virtual credit card addresses that demand perfectly. It is a credit card that is exclusively available online and is an immensely resourceful tool today. A virtual card features all relevant details like the card number, expiration, and CVV of the user online. Also, the user can set the credit limit on their card based on their requirements. A VCC works just like a regular credit card when it comes to online payments – users need to submit an OTP to authenticate a transaction. However, VCCs can only be used for online transactions and not in-store purchases. But, the history of purchases is reflected on the credit card statement. In order to avail of this facility, a user must be the primary cardholder. If a user does not have an existing credit card, the VCC is issued against their debit card. This virtual credit card remains valid for 24 – 48 hours, depending on the card issuer. Most leading financial institutions in the country offer this facility to their cardholders. A user can easily apply for this card through the website or mobile application of their card provider. The application process is simple and quick and can also be deactivated quickly. However, if you prefer a card with these salient features and further benefits, you may consider the Bajaj Finserv RBL Bank SuperCard. This card offers robust security features such as zero-fraud liability and in-hand security.

Important Features and Benefits to Check in a Credit Card before Applying

A cautionary mindset often exists among a lot of individuals when using a credit card. Such reservations often stem from the dues that accumulate and the penalty if one misses on paying the bills in time. Nevertheless, if a credit card is used prudently, not only will it help to build the credit history, but also lead to saving money. Here are thus a few things to find out before making a credit card application online or offline – Firstly, find out the types of reward points, discounts, and cashback offers associated with the card. Compare with other cards and see whether the benefits outweigh the annual fee. Secondly, the credit card companies often settle the issues of a fraudulent transaction at their end if informed duly. Make sure you do not need to bear the brunt of such risks with features like zero fraud liability cover. Moreover, the chosen credit card must also be meeting the specific requirements of the applicant with multiplied benefits. If you incur substantial expenditure on travel, then choose a credit card that provides accelerated reward points on airfare or any travel booking as opposed to discounts on fine dining and other transactions. Credit cards like the Bajaj Finserv RBL Bank SuperCard also offer sizable reward points as welcome bonuses and include other exclusive privileges when purchasing from the partner outlets. Keep these features and benefits in mind to select the best card that suits your spending habit while enhancing other benefits so derived.