HSBC Virtual Credit Card

HSBC has introduced its virtual credit card named HSBC Advantage Virtual Card. The card does not exist in physical form and can only be used for online shopping. With this card, you can set your preferred card limit and shop securely on the internet. A virtual credit card is considered as a secure way to pay for goods and services. The card is valid for a limited time and may be topped up with a certain amount only once. After a single successful transaction, the card expires.

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Features of HSBC Virtual Credit Card

Some of the significant benefits and unique features of the card are listed below. The virtual credit card, however, provides convenience in the way that you do not need to provide your primary credit card details to the merchant website.

Features & Benefits of HSBC Virtual Card
You get to enjoy more control with improved visibility over your purchases The card is easy to use and more convenient Can only be used to facilitate online transactions You can set your card’s limit based on the purchase you intend to do You also have the option to reset the limit You can also sign up for ‘Secure Virtual Shopping’ service to avail additional security features You can cancel this card anytime before you use it

Features & Benefits of HSBC Virtual Card

You get to enjoy more control with improved visibility over your purchases
The card is easy to use and more convenient
Can only be used to facilitate online transactions
You can set your card’s limit based on the purchase you intend to do
You also have the option to reset the limit
You can also sign up for ‘Secure Virtual Shopping’ service to avail additional security features
You can cancel this card anytime before you use it

Eligiblity for HSBC Virtual Card

For the ease and convenience of its customres, HSBC has set the following eligibility criteria to avail the virtual credit card facility-

You should have an existing HSBC Credit Card.
You should have sufficient credit for the online transaction to take place.

Fee and Charges of HSBC Virtual Card

At present, the bank does not levy any charges on the issuance or use of the card. The HSBC Advantage Virtual Credit Card provides a secure payment option for goods and services, giving you the ability to use the virtual credit card number to settle the suppliers without the need to deploy physical cards across your organisation.

How to generate HSBC Virtual Credit Card?

You can easily apply for HSBC Virtual Credit Card using your Internet Banking or Mobile Banking. Follow the below mentioned steps to generate your card-

Step 1- Visit the official website of HSBC.

Step 2- Log into your netbanking account using User ID and Password.

Step 3- Choose your preferred account from which you wish to draw funds for creating the card.

Step 4- Now click ‘Ok’ to generate your virtual card.

Step 5- You can now use your card to make any online transaction.

How are Virtual Credit Cards different from Physical Credit Cards?

Most of us don’t know how virtual card differs from that of a regular credit card. We have mentioned some of the significant features between the two:

Virtual Credit Card	Physical Credit Card
It can only be used to make online purchases	It can be used for both online and offline transactions
Usually you do not get any interest-free period	You can enjoy the interest-free period with this card (generally ranging up to 50 days)
Generally valid for a maximum period of 48 hours	Generally expire after a few years from the issue date
In majority of cards there are no reward points or cashback given	Reward points or cashback can be earned using physical credit cards
It does not help in building your credit score	It helps in building your credit score as well as your credit history
It cannot be used at any place where you need to show your card	It can be used at places where you need to present your card

Compare Similar Virtual Credit Cards from other banks

Given below is the comparison of virtual cards provided by different banks in India on the basis of their key feature and the fee levied on them if any.

Virtual Credit Card	Annual Fee	Primary Feature
HSBC Advantage Virtual Card	Nil	You can set your card’s limit on the purchase you wish to do and reset it again
HDFC NetSafe	Nil	You can use it on any merchant website that accepts Visa / Mastercard Credit Cards
SBI Corporate Virtual Credit Card	Nil	The card has a customized validity and hence is valid for single / multi use
Kotak Mahindra Bank Netc@rd	Nil	It is universally accepted and you can shop on any website that accepts Visa Cards
ICICI Bank Virtual Credit Card	Nil	You can change the maximum limit on your VCC within overall limit of your primary card
Axis Bank FreeCharge Credit Card	Rs.250 + taxes	Exceptional virtual credit card where you can earn reward points on your purchase