virtual debit card

a.k.a. virtual credit card, virtual cards

Virtual debit and credit cards are unique card numbers that allow you to transact on your main debit or credit card account without using — or exposing — your main credit card account number.

Due to the growth of cyberfraud, virtual cards basically consist of a piece of paper with an account number, expiration date and verification code for making purchases online, over the phone or by mail order.

Historical perspective: According to Credit Karma in 2019, one of the main benefits of virtual cards is the ability to close the account. If your main account number is exposed in a data breach because you didn’t use a virtual credit card, you’d have to get your main credit card account number reissued. That means you’ll get a new account number and this can cause issues with every vendor you’ve set up recurring payments with using your previous card number.

NetLingo Classification: Online Business

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