Wednesday, November 26, 2008

ICICI Bank launched Virtual Credit Card for online transactions

Recently ICICI Bank launched Virtual Credit Card for the existing card holders to facilitate secure online transaction.

  • The Primary Card Member shall apply for Virtual Credit Card provided by ICICI Bank through the logged in section of ICICI Bank.

  • This credit card is not physical, means will not be issued to you in Plastic format.

  • The use of Virtual Credit Card shall be restricted to online transactions only.

  • Virtual Credit Card like the card number, expiry date of the Virtual Credit Card, CVV etc. will be visible only on the Virtual Credit Card section available in the logged in section of online ICICI bank.

  • The initial credit limit of your virtual credit card will be Re.1/-. You can change the maximum limit on your VCC within the overall limit of your primary card.

  • The virtual credit card currently offered is a Visa card. Master and Amex virtual credit cards will be launched soon.

  • Only one Virtual Credit Card is allowed against a primary credit card. Any request for a second Virtual Credit Card against the same primary credit card will be rejected.

  • If your present credit card number as entered above is not linked to your user ID, it will be linked on issuance of the Virtual Credit Card.

  • Credit Limit as set by you on your Virtual Credit Card will be restored in every next billing cycle irrespective of payment made, subject to overall available limit against your Primary Card.

  • The details of the purchase made using Virtual Credit Card will be displayed in the Statement and no separate statement will be sent to the Primary Card Member.

  • I think there is no additional fee for ICICI virtual credit card and The terms and Conditions for VCC are in addition to and not in derogation to Terms and Conditions governing Credit Card facilities of ICICIBank.
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9 comments:

  1. CoolVinothDecember 5, 2008 at 1:24 AM

    Oh!! great.That means we can have double the credit limit with the availability of one credit card.

    ReplyDelete
  2. TrinuMay 3, 2009 at 3:54 AM

    hey can we create icici vcc using icici debit cards

    ReplyDelete
  3. VikasMay 3, 2009 at 11:52 AM

    No You can not create vcc with debit cards

    ReplyDelete
  4. TrinuJune 5, 2009 at 5:34 AM

    can we create any number of vccs like with hdfc card....

    ReplyDelete
  5. VikasJune 5, 2009 at 6:09 AM

    No, at this moment, only one card is allowed

    ReplyDelete
  6. goldenmanJuly 23, 2009 at 12:35 PM

    can I cancel the vcc once issued

    ReplyDelete
  7. HarryNovember 2, 2011 at 10:12 PM

    Certainly there are great disadvantages I still see.
    1. CVV number cannot be changed for that virtual card for the period of the card.
    2. The card limit can be loaded only once per cycle.
    3. Only 1 virtual card can be created.

    The virtual card should be ideally one time usage, CVV number and limit all can be created by the user, so that it lapses on that transaction. That way it is much safer. It should allow multiple card creation as I would be able to use different cards for different sites thus cannot be tracked.

    ReplyDelete
  8. UnknownMay 28, 2012 at 3:58 AM

    i have debit card of icici can i make vcc

    ReplyDelete
  9. AnonymousFebruary 27, 2015 at 11:56 AM

    I have used SBI VCC ....it is very simple to create as compared to other banks. You can create unlimited number of VCC with SBI online banking. Minimum limit of VCC is 100 rs and maximum of 50,000 rs.

    ReplyDelete

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