Virtual credit card number
My Citibank MasterCard allows me to generate a virtual credit card number, pretty simply, using a fairly ugly web interface. But a few clicks and you get a picture of a credit card, including numbers, dates and CVC. The magic is that this credit card can be used only once so if it’s stolen you don’t run a risk. Pretty cool. I just used it to pay for some software online and it worked like a charm. Simple and useful!
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June 18th, 2008 at 11:13 am
Thanks for sharing. I use this too and can’t believe Chase or HSBC have nothing similar. It is too bad you have to download the program and install it to use it.
Actually I have put $ limits on the VAN it generates, and been charged over the $limit. I complained and they said it should not have done that and they were sorry.
Also I have had one VAN used it more than one time.–When a merchant makes multiples charges on my order — ships one item and charges me, then the next day ships another….. so it is not fool proof.
I wonder if the merchants are charged a higher interchange when this happens.
Also I returned an item on which I had used a VAN, Citi somehow got involved and sent me a letter and reprimanded me for using a VAN and not to use it ever again as they are one time use only. I think they must have manual checking process when things are returned or disputed etc….
June 27th, 2008 at 11:28 am
Our Visa # was stolen twice in the past 6 weeks. I wish Chase had this virtual credit card feature. It must be a feature of the bank, not Visa (or MasterCard).
Paypal also has a virtual credit card feature. It’s not intuitive how to use it, but it can be used as a web app only, no download required. They want you to download the paypal toolbar thingy, but it’s not actually required to use the virtual credit card feature.
You can create 1 time credit card, with expiration date of the following month. This is good for sites that require a credit card when signing up, or where they offer a free month, then you forget to cancel.
Another feature is a 1 vendor only card, which is good only at a single vendor you use all the time, or for subscriptions. So, you can enter your virtual card # at MyFavoriteOnlineStore.com and know it can only be used at that merchant, even if an employee there steals your number and sells it to a thief.
It so easy to steal #’s and sell them. I can’t believe Visa and MasterCard don’t fix this problem. It’s got to be easy to track down who’s using it, but for the most part, they don’t care if the value is under the radar.
Here’s how I’m guessing they stole the #. Someone who had access to the # recorded it - could have been in person or online, who knows. They sell the # to bad guy 1. Bad guy 1 verifies it’s legit by making a $1 pending charge or actual charge. In my case, it was done at AutoZone in Virginia. Once determined it’s legit, they sell the valid # to another high bidder. Then, someone makes a credit card (can’t be that hard to get equipment to do that) with the stolen # embossed on it. They go to a store, in our case WalMart in Texas, and give the clerk the card. It doesn’t swipe properly, of course, because the mag stripe was “defective”. So the clerk manually enters it. Approved. But, this triggers the fraud alert, because normally, cards are swiped at Walmart, not manually entered. But, too late, the thief is already out the door with the goods. Visa could ask for the video to determine who it was, but they seem to not care because it’s only a few thousand $.
I don’t know if WalMart has to pay Visa back or not, but if they did, they’d have a stake in it to rid the world of these people.
I have to update the recurring subscription charges now, again. Pain in neck for me, but all Visa can say is “Sorry.” Fix it, I say.
June 27th, 2008 at 11:30 am
Oh yeah, if you your bank ATM card is also a debit card, I’d recommend you cancel it asap.
If that was our bank card stolen, we would have had our mortgage $$ wiped out. Yeah, we might get it back eventually, but how long would that take?
July 12th, 2008 at 10:31 am
Hey thanks for sharing.
Btw, I would like to know how you was generating a virtual credit card like that, because I’ve searched many websites on how to make a virtual credit card using my own credit card, but I ended up on website that just offer me a virtual credit card not generating through my own card, so I’d like to know if you or anyone could tell me.
Thanks
July 18th, 2008 at 7:47 am
Hey, where can I download your program?
July 20th, 2008 at 6:25 pm
i just need to know how to get an expiration for a cc one of the guys told me i need a c99 something to do with spam or a working generator with expiration and code. i am not trying to make purchases i m in a crunch and i m trying to get visa and airfare to reach my daughter doing what ever i have to do to get this done