These days, digitalisation is the most common change that you will observe when it comes to all things finance. Credit cards are not lagging behind in this trend, and now you can apply for a digital credit card online in minutes. The entire application and verification process is 100% digital and requires no physical paperwork.
This is a safe and widely accepted option which can help you get a credit card and, on approval, make transactions instantly online.
Basics of a Virtual Credit Card
A digital credit card is a virtual version of the same old credit card with similar benefits and perks. You can use this credit card to make purchases, avail exclusive offers and convert your bill into EMIs. Just like you earlier took out your wallet and used a physical credit card to purchase, now, you only need your smartphone.
To protect you from scammers and fraudsters who steal credit card information and use it illegally, these cards use masked numbers. Digital credit cards generate a new 16-digit unique number each time you make a purchase. For every transaction, there will be a new expiry date as well.
Apart from increased safety, it offers you features like:
- Real-time transaction tracking
- Immediate blocking option
- Swift EMI conversion
How Does a Digital Credit Card Work?
When you try to use your digital credit card to make a transaction, take a look at the process that follows:
- The merchant or company sends an approved payment file to your card provider
- The card issuer will then generate a 16-digit number for the particular payment
- You will receive an email regarding that transaction, and you can enter the 16-digital number
- After the payment is authorised, the payee bank sanctions the transaction
- Finally, the transaction is posted on the merchant or company’s account, which will reflect on your bill
Benefits of Choosing a Digital Credit Card
When you activate a virtual credit card, you get access to a range of services which include the following:
- Quick Digitalisation – The activation process is fast and hassle-free.
- Instant Access – With this option, you can get instant access to your credit limit after approval.
- Hybrid Access – You can use your physical and virtual card simultaneously.
- Limited Spending – You can set a limit to your spending each month for budgeting purposes and better financial management.
- Quick Replacement – You can generate a new card with new information instantly if you don’t have your physical card available.
- Unique Card Information – For each transaction, the card information is updated for better security from scammers or hackers.
- Immediate Blockage – Your card can immediately be blocked in case of any suspicious activity or fraudulent usage.
- Well-Encrypted – This card ensures safety and peace of mind.
How to Apply for a Digital Credit Card
The application process for a virtual credit card is similar up until applying for a credit card. To apply for a digital credit card online, follow these straightforward steps:
- Step 1 – Compare credit cards and choose one that matches your spending habits
- Step 2 – Look for eligibility criteria and whether you meet them and only proceed with a card you qualify for
- Step 3 – Download the credit card company’s app or log on to the website
- Step 4 – Fill out the application form and submit it
- Step 5 – Submit the required documents and wait for approval
- Step 6 – Go to the relevant virtual credit card section after approval
- Step 7 – Activate the card by following the instructions
One of the most useful ways to begin or upgrade your credit card journey is by going for a credit card that guarantees safety. Alongside safety, another thing you must look for is the versatility of the credit card. With the One Credit Card, you can enjoy all these benefits at your finger tips. It offers a range of deals and discounts so you can save more on everyday purchases.
This is a lifetime-free credit card, which makes it easier for you to maintain it over time. The reward structure of the credit card involves guaranteed 5X reward points on your top two categories every month.
That’s not all. You can easily convert your big purchase into affordable EMIs without paying any extra interest with the no-cost EMI benefit. For complete control and management of your credit card, you can use its full-stack mobile application, the OneCard App. To find the best offers around you, you can use its GPS feature that locates the best deals nearby. Apply now and enjoy these and many more perks!
