Virtual credit cards provide several advantages over their physical counterparts. Cardholders can make online payments using a virtual card number that’s ultimately not all that different from a physical card. Just like physical credit cards, virtual credit cards come with a card number, expiration date, CVV number, and of course, your name.
But with virtual cards, you can get a new card every time you complete a payment, enabling you to mitigate certain risks such as bank account fraud and credit card theft. Once you dispose of a virtual card, your bank will issue you a new one. Plus, new virtual cards don’t carry the charges that physical cards do – and arrive instantaneously.
Continue reading for a closer look at the best virtual credit card providers today.
7 Best Virtual Credit Cards
Here are the best virtual credit card offers for June 2023:
- Apple Card
- Citi Premier®
- Citi® Double Cash
- Capital One® Venture One®
- Amex® Blue Cash Preferred®
- Amex® Gold
- Amazon Store Card
1. Apple Card
- Yearly fee: $0
- APR: 10.99%-21.99%
- Cash back: 2-3%
- Welcome offer: Not available
The Apple Card is a virtual Mastercard credit card by Apple – the same Apple that makes iPhones and Macs, among other electronic devices. You nave an iPhone to get an Apple Card, as the two are interlinked.
The card comes with no fees. Instead of showing you the minimum payable amount, the app works out how much interest you’ll end up paying based on the amount you want to pay.
As such, you’ll be able to make more informed financial decisions based on your situation. Apple product purchases are interest-free, and you can choose to pay by installments.
Cashback is unlimited and varies between 2% and 3% – depending on the merchant. You can also use your virtual Apple card to pay in-store usher an iPhone or Apple Watch.
2. Citi Premier®
Citi Premier® Card
- Bonus Offer
- 60,000 Points details
- Annual Fee
- $95
- Intro APR
- N/A
- Regular APR
- 20.99% - 28.99% Variable
The Citi Premier® Card can serve as a travel card and everyday cashback card, letting you redeem rewards with a host of travel transfer partners, gift cards, and shopping points. With competitive bonus categories and exclusive entertainment perks, it could be a nice versatile addition to your wallet.
Pros
- Over a dozen transfer airline partners
- Welcome offer
- Citi® Entertainment membership
Cons
- Annual fee
- Low travel point value outside of partners
Citi® is offering 60,000 Points when you open a new Citi Premier® Card Details below!
How To Earn The Bonus:
- Apply for a new Citi Premier® Card using the link below.
- Within 3 months, spend $4,000 using your new card.
- Bonus will be credited in the form of 60,000 points, which can be redeemed for $600 in gift cards.
3. Citi® Double Cash
Citi® Double Cash Card - 18 month BT offer
- Bonus Offer
- 2% Cash Back details
- Annual Fee
- $0
- Intro APR
- N/A
- Regular APR
- 18.99% - 28.99% (Variable)
The Citi® Double Cash Card is hard to beat when it comes to straightforward rewards with no annual fee. You get a flat rate of 2% rewards—1% when you buy and another 1% when you pay it back—an incentive to build up your credit score by making payments on time.
Pros
- No annual fee
- Low intro APR
- Competitive rewards rate
Cons
- Foreign transaction fee
- Limited benefits
Citi® is offering up to 2% Cash Back when you open a new Citi® Double Cash Card - 18 month BT offer Details below!
How To Earn The Bonus:
- Apply for a new Citi® Double Cash Card using the link below.
- Spend with your new card, earn 1% cash back.
- By the due date, pay at least the minimum balance due, earn an additional 1% cash back.
Learn more in our Citi® Double Cash card review.
4. Capital One® Venture One®
Capital One VentureOne Rewards Credit Card
- Bonus Offer
- 20,000 Miles details
- Annual Fee
- $0
- Intro APR
- 0% intro on purchases for for 15 months
- Regular APR
- 19.74% - 29.74% (Variable)
The Capital One VentureOne Rewards Card is worth considering if you want a fee-free card that earns flat-rate miles on all your purchases with a handful of perks. But if you don't mind paying an annual fee and have solid credit, there are cards with more lucrative benefits.
Pros
- No annual fee or foreign transaction fee
- Easy welcome bonus
- Low intro APR
Cons
- Low reward rate
- Requires excellent credit
Capital One is offering 20,000 Miles when you open a new Capital One VentureOne Rewards Credit Card Details below!
How To Earn The Bonus:
- Apply for a new Capital One VentureOne Rewards Credit Card using the link below.
- Within 3 months, spend $500 using your new card.
- Bonus will be credited to your rewards balance within 2 billing cycles.
5. Amex® Blue Cash Preferred®
Blue Cash Preferred® Card from American Express
- Bonus Offer
- $250 details
- Annual Fee
- $0 intro annual fee for the first year, then $95.
- Intro APR
- 0% on purchases for 12 months
- Regular APR
- 18.99% - 29.99% Variable
Families with large grocery bills can rack up some serious cash back rewards with the American Express Blue Cash Preferred Card. The card is also also great for rewards on streaming services, gas, and transit costs. Terms Apply.
Pros
- High cashback rewards
- Introductory APR
- Versatile bonus categories
Cons
- Annual fee
- Spending caps for rewards
American Express is offering $250 when you open a new Blue Cash Preferred® Card from American Express Details below!
How To Earn The Bonus:
- Apply for a new Blue Cash Preferred® Card using the link below.
- Within 6 months, spend $3,000 using your new card to earn $250 as a statement credit.
- Bonus will be credited within 8-12 weeks of meeting the requirements in the form of statement credits.
6. Amex® Gold
American Express® Gold Card
- Bonus Offer
- 60,000 Points details
- Annual Fee
- $250
- Intro APR
- N/A
- Regular APR
- See Pay Over Time APR
The American Express Gold Card is a solid choice for foodies and travelers, offering competitive rewards on restaurant and supermarket buys. The annual fee is well worth it for diners who spend a lot on takeout, restaurants, and groceries; just note the rewards can get a bit complicated. Terms Apply.
Pros
- Solid dining rewards
- Transferrable points
- Generous bonuses
Cons
- Limited options for redeeming rewards
- Annual fee
American Express is offering 60,000 Points when you open a new American Express® Gold Card Details below!
How To Earn The Bonus:
- Apply for a new American Express® Gold Card using the link below.
- Within 6 months, spend $4,000 using your new card.
- Bonus will be credited within 8-12 weeks of meeting the requirements in the form of Membership Rewards® Points.
7. Amazon Store Card
- Yearly fee: $0
- APR: 27.49%
- Cash back: 5% at amazon.com and up to 15% on select promotions
- Welcome offer: $10 Amazon gift card
The Amazon Store Card is a card that is designed for Amazon customers. It has no annual fee and 0% APR when paying monthly for qualifying purchases. You will also earn 5% back on Amazon purchases when joining Prime.
The Amazon Store card includes promotional financing offers where you can choose between monthly payments or special financing. Both options have terms and limitations depending on how much money you need and how long you would like to pay everything back.
You can only use the card at Amazon and its sub-brands, including AWS, Audible, and several others.
How Virtual Credit Cards Work
A virtual credit card is a credit card that is tied to your credit card account but behaves as a completely separate credit card. Since it is virtual, there is no physical card. Instead, the card lives inside your mobile banking app or internet banking portal.
Think of virtual credit cards as photos stored on a smartphone. Although you don’t have a physical photo printed on paper, the photo is still there, virtually. The same concept applies to virtual credit cards. They are as real as a photo stored on your phone, but you can’t physically hold them in your hands.
How to use virtual credit cards:
Whether online shopping or making bill payments, these cards offer real-time payments with no hassle and are accepted by all retailers that normally accept credit cards.
You can use virtual cards to make online purchases, and you may even be able to use them at a point-of-sale terminal if your phone has an NFC (Near Field Communications) chip and your bank supports it. You might have to register your card with Apple Pay to take advantage of this feature.
As you might imagine, you can’t use virtual credit cards to withdraw cash from an ATM – and similarly, not all retail point-of-sales might accept them.
You might encounter some issues if you use your virtual card to make a booking and then have to use that same card at the location for verification purposes. In such cases, it’s always a good idea to call or email the location and verify if this is fine to do so.
If you experience trouble setting up or finding your virtual credit card, check the bank’s website for support documentation or call them.
Pros & Cons of Virtual Credit Cards
Pros:
- Cannot be lost, stolen, or misplaced
- Instant approval and access to funds
- Many cards carry liability insurance
Cons:
- ATM withdrawals and retail card payments are a no-go. There might be some exceptions where NFC is used.
Frequently Asked Questions
What is a virtual credit card?
A virtual credit card is a credit card with a card number, CV2 number, and expiration date that’s only accessible through an app. It is tied to your credit card account and follows the same rules, including any spending limits and credit limits.
Since there is no physical card, you can dispose of virtual credit cards after each use, removing the risk of credit card theft and fraud since the card would no longer exist. The bank with then issue you a new virtual credit card free of charge.
How do I get an instant virtual credit card?
Applying for a virtual credit often follows the same process as applying for a traditional card. Frequently, you have to apply for a physical card to get access to a virtual card.
First, provide your personal information, then the bank will check your credit score to see if you qualify. Fees and pricing might apply, be mindful when applying for a card by reading the schedule of fees.
Once your application is approved, you can enroll for the virtual credit card with the credit card provider’s app. Since no delivery is required and you’re already approved, the bank will set up your virtual card in real-time.
