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Agreed. But in the mean time, I encourage everyone to inquire if their bank supports virtual Credit Cards. Sometimes they do but may not widely advertise it. U
by jervisfm 13y ago
Agreed. But in the mean time, I encourage everyone to inquire if their bank supports virtual Credit Cards. Sometimes they do but may not widely advertise it.
Using virtual cards provides you a fine level of control over various features of the credit card and also protects your real credit card number. One can set up time limits (expiry date), set a monetary limit or make it a one time use card.
Virtual credit cards are also useful for dealing with service providers who make it hard to cancel their subscriptions (e.g. you have to call in and talk to a person to unsubscribe). With virtual credit cards, one can sign up freely and not have to worry about being continuously surreptitiously charged each month. Once the card expires or the transaction limit is exceeded, the service provider will be forced to close/suspend the account on their own.
- bashinator 13y agoWouldn't that last example lead some (many?) service providers to send your account to a collections agency and hurt your credit rating?
- ScottBurson 13y agoNormally, such recurring charges are for the month (year, whatever) of service that's about to be provided, not for the one that was just provided. So when the charge fails, you don't actually owe the vendor anything.
- deleted 13y ago[deleted]