What are Virtual Credit Card Numbers and How Do They Work?

In today's digital age, online shopping has become the norm, making it crucial to protect our personal financial information from fraudsters. One way to achieve this is by using virtual credit card numbers. But what exactly are they, and how do they work?

How to Get a Virtual Credit Card Number from Your Issuer

Not all issuers offer virtual credit card numbers, but if yours does, you can access it through their online platform or mobile app. For example, Citi allows you to find your virtual number on your account page after enrolling in the service. Capital One, on the other hand, provides a virtual number through its Eno virtual assistant browser extension.

Pros and Cons of Using Virtual Credit Card Numbers

While using a virtual credit card offers an extra layer of security while shopping online or over the phone, there are some potential drawbacks to consider. For instance, when you use a virtual card, your 16-digit number is replaced by a token that cannot be seen by the merchant, preventing them from accessing your actual credit card information.

What Sets Virtual Credit Card Numbers Apart

Virtual card numbers protect your personal card information when shopping online, but they are not the same as digital wallets like Apple Pay, Google Pay, and Samsung Wallet. These digital wallets store sensitive information such as credit card data, boarding passes, and concert tickets. Virtual cards, on the other hand, are designed to limit digital fraud by reducing the risk of your credit card information being stolen.

How Virtual Credit Card Numbers Work

A virtual credit card is a digital credit card that replaces the 16-digit code printed on the front of your physical credit card. It's generally intended for one-time use, although some can be reused, and prevents anyone from reusing stored or stolen card numbers. With this technology, you can make online transactions without revealing your actual credit card information.

Virtual credit card numbers are a useful tool to add an extra layer of security when shopping online or over the phone. While not all issuers offer virtual credit card numbers, it's worth checking with your issuer to see if they do. Whether you choose to use a virtual credit card number or a digital wallet, there are ways to protect your personal financial information from fraudsters in today's digital world.