topic Re: Virtual Credit Cards in Community Chat

Virtual Credit Cards

PickyPicky3 — Wed, 27 Dec 2023 21:56:30 GMT

Following my incident with the fraudulent website this week, my bank gave me TWO new account numbers: one for the physical credit card and one virtual number for internet use only. This was a first for me.

Initially it seemed like extra work to keep track of two accounts, but now I'm thinking it must be more safe. Otherwise why would they do it?

If you have this two number system, how has it worked out for you? Pros and cons, please.

Re: Virtual Credit Cards

Kachina624 — Wed, 27 Dec 2023 22:02:37 GMT

@PickyPicky3. I've never heard of this two card system. Don't see the point. You should have asked.

Re: Virtual Credit Cards

Snowpuppy — Wed, 27 Dec 2023 22:05:17 GMT

You do not have 2 accounts, just two numbers with 1 being virtual.

All purchases will show on 1 statement, only 1 payment due. I have two cards that will auto generate a single use dummy number if I request one.

I did have a virtual number declined by Citi, trying to use on an overseas purchase at All Day Chemist.

Re: Virtual Credit Cards

SaveTheTurtles — Wed, 27 Dec 2023 22:09:30 GMT

I've never heard of this either. Anytime I've needed a new card I got a new physical card. Seems odd. I would have questioned the bank person about it.

Re: Virtual Credit Cards

PickyPicky3 — Wed, 27 Dec 2023 22:11:17 GMT

@Kachina624 They didn't tell me during our phone conversation. It was part of a follow-up e-mail.

I'd like to get some opinions before I call the bank back. It must be very new.

Re: Virtual Credit Cards

Tori3569 — Wed, 27 Dec 2023 22:33:40 GMT

I have this option with 2 cards. One is my Amex, where I can use a virtual number to shop online if desired. It keeps your actual number even more secure. The other is a visa which does the same thing. It is the same account and shows on the same bill. It's actually a good thing and shouldn't be an issue. You don't even have to use it.

Re: Virtual Credit Cards

Sage04 — Wed, 27 Dec 2023 22:38:13 GMT

I heard about this a few months ago but don't know exactly how it works. My brother has a Debit Card but does not have to use it except for getting cash. I think he uses his phone to pay for merchandize when he goes to the store.

I still don't understand it.

Re: Virtual Credit Cards

kaydee50 — Wed, 27 Dec 2023 22:42:40 GMT

DH uses the virtual number regularly. It's for one use only, is charged to the original card and supposedly is an extra level of security. I have received this option on my credit cards but have yet to use it.

Re: Virtual Credit Cards

mspatmac — Wed, 27 Dec 2023 22:44:14 GMT

When making an on line purchase I can choose card number or a virtual one use number generated by bank. Another level of protection and works great.

Re: Virtual Credit Cards

deeva — Wed, 27 Dec 2023 23:19:31 GMT

This is the same as a one time use credit card number. I wish my credit card issuer offered this, but they don't.

Re: Virtual Credit Cards

Desertdi — Wed, 27 Dec 2023 23:25:49 GMT

@Kachina624 wrote:
@PickyPicky3. I've never heard of this two card system. Don't see the point. You should have asked.

@Kachina624 My brain is unable to comprehend stuff like "Virtual, Crypto, NFTs, etc." I can tell the difference between Bugs Bunny and a real rabbit.....but that's as far as it goes(!) di

Re: Virtual Credit Cards

PickyPicky3 — Wed, 27 Dec 2023 23:27:46 GMT

Learning a lot here, plus I've now read my bank's Virtual Credit Card FAQ.

My bank gives you a permanent virtual number, and you must choose whether it will be limited to one store or used for multiple accounts. It allows you to more safely store a credit number and if your true credit number becomes compromised, you do not need to change the virtual one.

BUT we all know the scammers are only one step behind any security updates, so caveat emptor.

Re: Virtual Credit Cards

nwbabs — Wed, 27 Dec 2023 23:37:26 GMT

This two account number system has been around for awhile. I remember using the generated (virtual) for online purchases almost two decades ago.

I used the two number system for many years, but did not keep it up as years passed. It seems I had to generate it with each online purchase, if I recall correctly. Sounds like things have changed. Suits me to get alerts when card used and can quickly shut down an issue.

Re: Virtual Credit Cards

chrystaltree — Thu, 28 Dec 2023 00:29:46 GMT

I never heard of it. I shop online s lot but I don't see the point of the virtual credit card.