Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Review: Virtual Credit Card Numbers
Old 07-13-2006, 09:55 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,201
Review: Virtual Credit Card Numbers

I've been using the virtual credit card number feature for my card, and I thought I'd post a review.* For a description of how these work, see this page.

I use a different "virtual" credit card number for each of the merchants that I pay on a recurring basis (e.g. phone, cable, etc.).* Thus if the number escapes from their records, it can't be used (the number will work for one merchant only).

I also use it when buying something online.* One advantage here is that there's no chance that the merchant will charge too much or bill twice by mistake.

I can generate numbers from my credit card company's web site, or download software to do this.* The software (automatically fills in fields, etc.) is poorly designed and slow.* For example, they use a tiny window to display the list of numbers you've used, and you have to scroll a lot).* Also, if you generate a number, but then wait for a few minutes (e.g. on hold) to use it, the window just disappears!* However, it does the job in general.

Another disadvantage is that the max expiration time you get for your virtual numbers is 12 months.* So every year I'll have to extend the expiration (not sure if that will work) or generate a new number.

If my card is stolen I'm hoping that the numbers I've generated will automatically redirect to the new card that I get.

Of course, you are always protected against fraudulent charges, even if you don't use this feature.* But I've decided that it can protect me from some of the hassles I'd have to endure if my card number were stolen.

Bottom line: Worth using.
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 09:59 AM   #2
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Re: Review: Virtual Credit Card Numbers

Thanks Al.

I saw someone here mention the virtual numbers a few weeks ago and confirmed their existence at my CC's website. Have not had the occasion to need to use one yet, but now I feel more confident about giving it a try when the need arises.
__________________

__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 10:21 AM   #3
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Review: Virtual Credit Card Numbers

We use them a few times a month for online purchases. There's a lot more peace of mind when shopping from unknown online e-tailers.
__________________
justin is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 12:51 PM   #4
Thinks s/he gets paid by the post
free4now's Avatar
 
Join Date: Dec 2005
Posts: 1,225
Re: Review: Virtual Credit Card Numbers

Just out of curiosity does the card that has these virtual numbers give about 1% cash back as well?
__________________
free4now is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 12:53 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Review: Virtual Credit Card Numbers

Quote:
Originally Posted by free4now
Just out of curiosity does the card that has these virtual numbers give about 1% cash back as well?
Mine does - 1% everything, 5% gas, groceries, drugstores. Of course I don't buy many groceries or gas online. I did buy some hot sauce off the internet last night though. 8)
__________________
justin is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 01:44 PM   #6
Recycles dryer sheets
IBWino's Avatar
 
Join Date: May 2006
Posts: 423
Re: Review: Virtual Credit Card Numbers

I've been using virtual CC numbers for the past few years and they've worked great. Unfortunately, they are one-purchase only with a one month expiration date, so it's necessary to update my vendor account information each time I make a purchase. But I consider this a fair trade-off for the additional security.
__________________
IBWino is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 03:41 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,201
Re: Review: Virtual Credit Card Numbers

Quote:
Just out of curiosity does the card that has these virtual numbers give about 1% cash back as well?
Yes.

You can also set a number to be for periodic charges (e.g. for electricity).
__________________
Al
TromboneAl is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 03:56 PM   #8
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Review: Virtual Credit Card Numbers

Quote:
Originally Posted by TromboneAl
... download software to do this
As I mentioned in another thread, I use Discovercard's web-based generator.* *I haven't tried the downloadable app thing.* *Is it password protected when you use it on your computer, and does it encrypt data going over the net?*
__________________
wabmester is offline   Reply With Quote
Re: Review: Virtual Credit Card Numbers
Old 07-13-2006, 04:13 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,201
Re: Review: Virtual Credit Card Numbers

Quote:
Is it password protected when you use it on your computer, and does it encrypt data going over the net?
Yes and I assume so. As you can imagine they are hyper-sensitive to security. That's probably what makes it so slow.
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Your unsecured (credit card) debt dies when you die (usually) JustCurious FIRE and Money 77 11-22-2010 10:05 PM
Secured debt (HELOC) vs Unsecured debt (credit card) Sue J FIRE and Money 6 03-07-2007 11:02 PM
Credit Card conundrum. CCdaCE FIRE and Money 21 08-25-2006 07:33 PM
Fraudulent credit card usage after phonedog, Pioneer Telephone free4now FIRE and Money 1 05-02-2006 06:50 PM
Credit card selection Skylark Young Dreamers 27 03-12-2004 02:10 PM

 

 
All times are GMT -6. The time now is 09:03 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.