"Virtual" and/or "prepaid" credit Cards

newcigarz · 07-06-2009, 06:25 AM

Certain Credit Card companies like Citi. allow you to set up "virtual" account #'s that are directly linked to your main account. you pick the amount (up to your available limit) and expiration (2 - 12 months) and it assigns a "virtual" #.
It is just like your normal Credit card, it has a 16 digit card #, an expiration date, and a cvc #.
Once the "virtual" is used a few things happen. It deducts the purchase amount from the available credit on the "virtual" card as well as the main card.
The card is only good for one vendor so once the initial purchase is made that "virtual" # can not be used for any other vendor. Also if the amount is close or equal to the available amount on the "virtual" card it can not be authorized for more. In some cases it you want to designate the "virtual" # for a vendor that you use all the time, you can go back and increase the amount and expiration date.
So if someone were to get ahold of your "virtual" account # they will not be able to authorize any charges.
Hope this helps.

07-06-2009, 06:25 AM	#15
newcigarz Smoke and Mirrors Join Date: Oct 2008 Location: On the bottom shelf Posts: 3,139 Trading: (15)	Re: "Virtual" and/or "prepaid" credit Cards Certain Credit Card companies like Citi. allow you to set up "virtual" account #'s that are directly linked to your main account. you pick the amount (up to your available limit) and expiration (2 - 12 months) and it assigns a "virtual" #. It is just like your normal Credit card, it has a 16 digit card #, an expiration date, and a cvc #. Once the "virtual" is used a few things happen. It deducts the purchase amount from the available credit on the "virtual" card as well as the main card. The card is only good for one vendor so once the initial purchase is made that "virtual" # can not be used for any other vendor. Also if the amount is close or equal to the available amount on the "virtual" card it can not be authorized for more. In some cases it you want to designate the "virtual" # for a vendor that you use all the time, you can go back and increase the amount and expiration date. So if someone were to get ahold of your "virtual" account # they will not be able to authorize any charges. Hope this helps.