ICICI Bank Virtual Credit Card (VCC) is an add-on Visa credit card issued on your primary credit card. The card does not have any plastic existence and all the significant details like the card number, expiry date, CVV etc. are visible online. For every transaction you make using your ICICI Bank Virtual Credit Card, you will earn 1 point for every Rs.200 spent.
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Features of ICICI Bank Virtual Credit Card
The ICICI Bank Virtual Credit Card enables you to transact online at merchant websites without revealing the primary card details thus protecting from any possible fraud or theft. Listed below are some of the significant features of the card. Here are some of the key highlights:
|Key Features of ICICI Bank Virtual Credit Card|
|For every Rs.200 spent via the card, you will get 1 point|
The card is a fully digital and paperless credit card with no physical existence
All the relevant details are displayed online
The initial credit limit of the card is set at Re.1
You can change the maximum credit limit on your VCC
It as an internationally valid and accepted Visa credit card
The CVV remains unchanged as long as the card is active
Eligibility Criteria for ICICI Bank Virtual Credit Card
The ICICI Bank Virtual Credit Card cannot be issued to any other person apart from the primary holder. The bank has set the following set criteria-
- You should have an existing ICICI Bank Credit Card
- You should have a good track record of transactions and decent credit score
Fees and Charges of ICICI Bank Virtual Credit Card
The ICICI Bank Virtual credit card is a zero cost card. It means that the card is issued solely as an add-on card and the bank does not charge you with any amount during the issuance and use of the card. It is to be noted that the credit limit of the ICICI Bank Virtual Credit Card is set at Re.1 but you have the option to change the set limit depending upon the limit of your primary credit card.
Steps to Generate ICICI Bank Virtual Credit Card
The card can be generated instantly and easily using the ICICI Net Banking or iMobile App. Follow the below mentioned steps for issuance of ICICI Bank Virtual Credit Card-
Step 1- Log into internet banking or iMobile app using your credentials.
Step 2- Select the pre-qualified credit card offers from widget.
Step 3- Confirm the personal pre-filled details.
Step 4- Select your desired credit card and fill all the required details.
Step 5- Accept the terms & conditions and enter the OTP.
Step 6- The credit card number will be displayed instantly. Now you can do any online transaction hassle-free.
Difference between Virtual and Physical Credit Card
Virtual Cards are the digital versions of real and physical credit cards. However before opting for one, you should be aware of the differences between the two and the limitations associated with the virtual credit cards.
|Virtual Credit Card Vs Physical Credit Card|
|Virtual Credit Card||Physical Credit Card|
|It can only be used to make online transactions||Can be used for both online and offline transactions|
|Generally no interest-free period is given with this card||You can enjoy the interest-free period (generally ranging up to 50 days)|
|Usually valid for a shorter time period (24-48 hours)||Generally expire after a few years from the date of issuance|
|In majority of cards you do not avail reward points or cashback on using them||Reward points as well as cashback can be earned using physical credit cards|
|Does not contribute in building your credit score||Helps in building your credit score|
Comparison of similar Virtual Credit Cards from other banks
Given below is the comparison of different virtual credit cards from popular banks in India. You can compare their primary features and the fee levied and choose the ideal one for you.
|Virtual Credit Card||Annual Fee||Primary Feature|
|ICICI Bank Virtual Credit Card||Nil||You can change the maximum limit on your VCC within overall limit of your primary card|
|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|
|HDFC NetSafe||Nil||You can use it on any merchant website that accepts Visa / Mastercard Credit Cards|
|Axis Bank FreeCharge Credit Card||Rs.250 + taxes||Exceptional virtual credit card where you can earn reward points on your purchase|
|HSBC Advantage Virtual Card||Nil||You can set your card’s limit on the purchase you wish to do and reset it again|
Frequently Asked Questions (FAQs)
How can I make payments for my virtual credit card transactions?
The transactions made using your virtual credit card will be visible online in your primary credit card statement. You can make payment through Infinity.
Can I block my virtual credit card online?
Yes, you have the option to block your VCC online.
Can a separate card be issued to the add-on cardholders?
No, the virtual credit card is only issued to the primary cardholder.
Does the CVV number change whenever I use the card for an online transaction?
No, the CVV number remains the same till the card is active. The number will change in the case if you hot-list the current card due to some reason and request for a new one.
Is there any fee levied for issuing or holding a VCC?
No, the card is presently offered to you free of cost