"Virtual" and/or "prepaid" credit Cards - Page 2

CueTheMusic · 07-06-2009, 10:48 AM

Quote:

Originally Posted by newcigarz

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.

I use this, it works great and costs nothing.

romwarrior · 07-09-2009, 10:20 AM

Does Wells Fargo offer something like this? My only Visas/MC's are through them.

cbsmokin · 07-09-2009, 11:32 AM

There needs to be some clarity here about all of this.

A prepaid credit card is really just a debit card for people with bad credit. You send a bank money and they give you a percentage revolving line of credit based on the amount you have deposited.

A visa gift card you buy locally or on-line in denominations of your choosing. Some can be refilled, some can not. Many expire or charge a monthly fee if you don't use them. A transaction over your balance will be declined.

A virtual credit card is a secondary number issued for a traditional credit card (one time, one vendor, or specified time period) that prevents thieves from using your actual credit card information in the future.

Different banks have different fee schedules and some are not valid for transactions in foreign currency.

I would like to use visa gift cards but I am concerned about transaction fees or conversion fees if used for an international transaction. Can some one please tell me what their experience has been with this?

zmancbr · 07-09-2009, 11:59 AM

Like was posted above the Citi Virtual CC feature Rocks! I can set a limit, say exactly what I know an order might be and then it clears instantly... you can close the card out after that, or let it expire in 2 months.

I know that Chase offers Visa gift cards for customers, and the limit is up to $500 I believe. Not sure how well they will work to purchase items online, but I might look into it here soon for the holiday season and for my own paranoid self lol...if I remember right, they are free to Chase customers...

awsmith4 · 07-09-2009, 12:02 PM

Quote:

Originally Posted by cbsmokin

There needs to be some clarity here about all of this.

A prepaid credit card is really just a debit card for people with bad credit. You send a bank money and they give you a percentage revolving line of credit based on the amount you have deposited.

A visa gift card you buy locally or on-line in denominations of your choosing. Some can be refilled, some can not. Many expire or charge a monthly fee if you don't use them. A transaction over your balance will be declined.

A virtual credit card is a secondary number issued for a traditional credit card (one time, one vendor, or specified time period) that prevents thieves from using your actual credit card information in the future.

Different banks have different fee schedules and some are not valid for transactions in foreign currency.

I would like to use visa gift cards but I am concerned about transaction fees or conversion fees if used for an international transaction. Can some one please tell me what their experience has been with this?

Actually Craig a prepaid is similar to a gift card but can be refilled, the description you have listed is a Secured Credit Card meaning the debt is secured by the initial deposit. I have yet to get any international fees when ordering with my prepaid card

07-09-2009, 12:07 PM

OK here is my question.

Can this be done with any credit card or do you have to have a Citi card to make it work?

What I want to do is assign my bank visa card to pay this "temp" card to pay for my smokes.

What I don't want is fee's or monthly charges etc. etc.

I like the haypal option I guess if they can't close my account when they see it's a cigar purchase.

zmancbr · 07-09-2009, 12:56 PM

Quote:

Originally Posted by ahc4353

OK here is my question.

Can this be done with any credit card or do you have to have a Citi card to make it work?

What I want to do is assign my bank visa card to pay this "temp" card to pay for my smokes.

What I don't want is fee's or monthly charges etc. etc.

I like the haypal option I guess if they can't close my account when they see it's a cigar purchase.

I would say it depends on your card provider. If they have the option or not. If its a bank, then I doubt they will have something like that. Worst case though, give customer service a call and see what they offer.

md4958 · 07-09-2009, 12:12 PM

Can somebody please provide the link for citi Virtual cards? I was just on the site and I cant find anything about a virtual card.

CueTheMusic · 07-09-2009, 12:29 PM

Quote:

Originally Posted by md4958

Can somebody please provide the link for citi Virtual cards? I was just on the site and I cant find anything about a virtual card.

If you log into your account online at citicard.com then go to the "Tools and Services" tab, you can drop down to "Request a Virtual Account Number".

Also, this will explain it:
https://www.citicards.com/cards/wv/d...laccountnumber

zmancbr · 07-09-2009, 12:57 PM

Quote:

Originally Posted by CueTheMusic

If you log into your account online at citicard.com then go to the "Tools and Services" tab, you can drop down to "Request a Virtual Account Number".

Also, this will explain it:
https://www.citicards.com/cards/wv/d...laccountnumber

Then you can DL the software to your computer and run it from there, or log into your account every time and then log into the virtual CC section.

md4958 · 07-10-2009, 01:45 PM

Quote:

Originally Posted by CueTheMusic

If you log into your account online at citicard.com then go to the "Tools and Services" tab, you can drop down to "Request a Virtual Account Number".
Also, this will explain it:
https://www.citicards.com/cards/wv/d...laccountnumber

Quote:

Originally Posted by zmancbr

Then you can DL the software to your computer and run it from there, or log into your account every time and then log into the virtual CC section.

Thanks for the info guys, but it doesnt give me that option in the Tools and Services menu.

maybe its not available with my pitiful card.. you gotta be a Big Balla to have that option

zmancbr · 07-10-2009, 03:28 PM

Quote:

Originally Posted by md4958

Thanks for the info guys, but it doesnt give me that option in the Tools and Services menu.

maybe its not available with my pitiful card.. you gotta be a Big Balla to have that option

Maybe give 'em a call and check it out? That is weird that it doesnt have that option for your card... maybe they limit it to different kinds of cards?

Oh and I highly doubt I'm a big balla Moe

CueTheMusic · 07-10-2009, 02:37 PM

From citi's FAQ:

Quote:

Virtual Account Numbers are available on:
AT&T Universal Savings Platinum Card
AT&T Universal Savings Rewards Card
Citi® Bronze / AAdvantage® MasterCard®
Citi® Bronze / AAdvantage® MasterCard® for College Students
Citi CashReturns® MasterCard
Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Rewards Card
Citi® Dividend Platinum Select® Visa® Card for College Students
Citi® Dividend Platinum Select® MasterCard® for College Students
Citi® Gold / AAdvantage® World MasterCard®
Citi® mtvUTM Platinum Select® Visa® Card for College Students
Citi® Platinum Select® / AAdvantage® World MasterCard®
Citi® Platinum Select® MasterCard®
Citi® Platinum Select® Visa® Card for College Students
Citi® Platinum Select® MasterCard® for College Students
Citi PremierPass® Card
Citi PremierPass® Card - Elite Level
Citi PremierPass® Expedia.com Card
Citi PremierPass® Expedia.com Card - Elite Level
Citi® Secured MasterCard®

DonnieW · 07-20-2009, 07:30 PM

Stay away from gift/pre-paid cards for online transactions. If the card info is lifted and subsequently used for fraud, it’s a far tougher time getting your money back. Virtual numbers work quite well. My opinion is that traditional bank-issued credit cards are your best bet. Your purchases are insured, you will never be responsible for a fraudulent purchase.

My organization is the largest investigations firm in the world. We ARE the investigators for the big three cards. If you have personal questions about CC fraud or would like straight-forward info on what you're rights are as a cardholder and what your responsibilities are, PM me anytime. For obvious reasons I wouldn't comment about our clients in the open threads.

I repeat - stay the hell away from gift cards (unless ya got money to burn).

07-09-2009, 10:20 AM	#2
romwarrior Feeling at Home Join Date: Oct 2008 First Name: Brett Location: Southern Cal Posts: 616 Trading: (19)	Re: "Virtual" and/or "prepaid" credit Cards Does Wells Fargo offer something like this? My only Visas/MC's are through them.

07-09-2009, 11:32 AM	#3
cbsmokin Looking for the Apex Join Date: Oct 2008 First Name: Craig Location: In da ATL Posts: 882 Trading: (10)	Re: "Virtual" and/or "prepaid" credit Cards There needs to be some clarity here about all of this. A prepaid credit card is really just a debit card for people with bad credit. You send a bank money and they give you a percentage revolving line of credit based on the amount you have deposited. A visa gift card you buy locally or on-line in denominations of your choosing. Some can be refilled, some can not. Many expire or charge a monthly fee if you don't use them. A transaction over your balance will be declined. A virtual credit card is a secondary number issued for a traditional credit card (one time, one vendor, or specified time period) that prevents thieves from using your actual credit card information in the future. Different banks have different fee schedules and some are not valid for transactions in foreign currency. I would like to use visa gift cards but I am concerned about transaction fees or conversion fees if used for an international transaction. Can some one please tell me what their experience has been with this? __________________ Check out C.A.R.B. IV http://www.cigarasylum.com/vb/showth...840#post879840

07-09-2009, 11:59 AM	#4
zmancbr CERTIFIED THREAD KILLER!! Join Date: Oct 2008 First Name: Zach Location: Color Red Posts: 1,692 Trading: (41)	Re: "Virtual" and/or "prepaid" credit Cards Like was posted above the Citi Virtual CC feature Rocks! I can set a limit, say exactly what I know an order might be and then it clears instantly... you can close the card out after that, or let it expire in 2 months. I know that Chase offers Visa gift cards for customers, and the limit is up to $500 I believe. Not sure how well they will work to purchase items online, but I might look into it here soon for the holiday season and for my own paranoid self lol...if I remember right, they are free to Chase customers...

07-09-2009, 12:07 PM	#6
ahc4353 Guest Posts: n/a	Re: "Virtual" and/or "prepaid" credit Cards OK here is my question. Can this be done with any credit card or do you have to have a Citi card to make it work? What I want to do is assign my bank visa card to pay this "temp" card to pay for my smokes. What I don't want is fee's or monthly charges etc. etc. I like the haypal option I guess if they can't close my account when they see it's a cigar purchase.

07-09-2009, 12:12 PM	#8
md4958 Captain Cannoli Join Date: Oct 2008 First Name: Moe Location: Suffield, CT Posts: 5,712 Trading: (62)	Re: "Virtual" and/or "prepaid" credit Cards Can somebody please provide the link for citi Virtual cards? I was just on the site and I cant find anything about a virtual card. __________________ "One fart can foul the air for everyone" - Esteemed philosopher "If avoiding the nasty $hit is being a snob, them I am guilty as charged."- Same esteemed philosopher.

07-20-2009, 07:30 PM	#14
DonnieW I'm around... Join Date: Oct 2008 First Name: Donnie Location: Ontario Posts: 246 Trading: (11)	Re: "Virtual" and/or "prepaid" credit Cards Stay away from gift/pre-paid cards for online transactions. If the card info is lifted and subsequently used for fraud, it’s a far tougher time getting your money back. Virtual numbers work quite well. My opinion is that traditional bank-issued credit cards are your best bet. Your purchases are insured, you will never be responsible for a fraudulent purchase. My organization is the largest investigations firm in the world. We ARE the investigators for the big three cards. If you have personal questions about CC fraud or would like straight-forward info on what you're rights are as a cardholder and what your responsibilities are, PM me anytime. For obvious reasons I wouldn't comment about our clients in the open threads. I repeat - stay the hell away from gift cards (unless ya got money to burn). __________________