Virtual credit card: real money

A virtual credit card works the same as any other credit card when paying for purchases online. The big difference is that a virtual credit card is just another name for a secure credit card with or without the card.

Anyone can apply for one and almost all are approved once the required deposit is made. The spending limit is the amount that was prepaid in the deposit minus the fees. The fees can be anywhere from 12% of the loaded amount to a preset rate of $20 per $100.

There are both Visa and Mastercharge available. Some are even anonymous, or no name is associated with the virtual card or embossed on the card. There are banks that issue these types of card in the United States and offshore.

There are also banks and other lending institutions that offer a virtual credit card where no real card ever exists. This is exclusively for online purchases. The use of a computer is needed for this type of account and does handle real transactions. In order to have an account of this type the person wanting a virtual credit card must have an active account with a qualified lending institution.

Paypal, eBay and Google all offer this type of account that is prepaid. It is also called the PEG virtual credit card. Anyone can apply and residents in every country in the world are eligible. There is no credit check or documentation with this type of account. No buyer or seller will know your name, place of residence or any other information about the card holder unless the card holder themselves relays the information. The charge is just under $20 US.

This type of card is for those individuals that cannot obtain a credit card any other way or wish to make purchases anonymously. The virtual credit card is the anonymous way to spend money.

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