Virtual/Disposable Credit Cards

KeithOwen

Hi all,
I'm new to the forum...
Does anyone have any thoughts on virtual/disposable credit cards (such as Revolut, ecoPayz, Netspend, etc)? These allow you to use a card number once (or a few times) and then dispose of it. They add another layer of abstraction between you and the vendor, especially useful for online shopping. With all the stories of companies being hacked these days, it would seem to be an interesting way of getting a bit of additional security.
Any experiences good/bad? Any recommendations?
Keith

jonesMUFCforever

What happens to a refund on a card which has been disposed of?

phillw

jonesMUFCforever said:

What happens to a refund on a card which has been disposed of?

The issuer should be able to track it back to your account as they shouldn't be giving out the same number and expiry date to someone else.
Google pay works in a similar way, they assign you a virtual number.

PrudentPeter

I have no experience with disposable credit cards, didn't even know they existed to be honest!  
Sounds like they certainly could come in handy in some situations. However, credit cards come with significant levels of consumer protection, so even if your card was cloned etc you wouldn't be the one footing the bill, which raises the following question - why is it necessary? I guess it would save you the hassle reclaiming your money if this did ever happen, but to me it seems like you would expend more effort acquiring/changing (how ever it works) the card. The chances are you may never even be hacked and if you are, how do you know which website is the one where your details will be stolen? 
Would be interested to hear more about the functionality of the card though as a lot of the above is based on my assumptions. If the user experience is simple and quick then it may be worth it. 

[Deleted User]

KeithOwen said:

Hi all,
I'm new to the forum...
Does anyone have any thoughts on virtual/disposable credit cards (such as Revolut, ecoPayz, Netspend, etc)? These allow you to use a card number once (or a few times) and then dispose of it. They add another layer of abstraction between you and the vendor, especially useful for online shopping. With all the stories of companies being hacked these days, it would seem to be an interesting way of getting a bit of additional security.
Any experiences good/bad? Any recommendations?
Keith

Are these credit cards? Revolut certainly isn't.

KeithOwen

It's more about having a disposable/single-use card for those one-off purchases, where I'm buying from a site I've never used before, and probably won't again. I don't intend to replace my standard cards, rather it will be an additional tool alongside them. Most of these companies are directed at online use - you can get a physical card if you want, but the main intent is that you use an app on your phone to generate a single-use card number when you need it.
It seems like not many people here see a need.

KeithOwen

dahj said:

KeithOwen said:

Hi all,
I'm new to the forum...
Does anyone have any thoughts on virtual/disposable credit cards (such as Revolut, ecoPayz, Netspend, etc)? These allow you to use a card number once (or a few times) and then dispose of it. They add another layer of abstraction between you and the vendor, especially useful for online shopping. With all the stories of companies being hacked these days, it would seem to be an interesting way of getting a bit of additional security.
Any experiences good/bad? Any recommendations?
Keith

Are these credit cards? Revolut certainly isn't.

It certainly is. Whilst you can perform online banking if you want, they do issue credit cards, and (more interesting for me) all you to generate single-use card numbers via their app

Nebulous2

I’ve always regarded additional complexity in cards as unnecessary. Lots of these ideas have come and gone over the years, which shows it is very hard to make them work. There are costs to be met in these arrangements that have to be paid from somewhere.

My credit card still pays me 0.5% for every purchase I make. That keeps me seeing it as my ‘go to’ card.

KeithOwen

Nebulous2 said:

I’ve always regarded additional complexity in cards as unnecessary. Lots of these ideas have come and gone over the years, which shows it is very hard to make them work. There are costs to be met in these arrangements that have to be paid from somewhere.

My credit card still pays me 0.5% for every purchase I make. That keeps me seeing it as my ‘go to’ card.

Yes, could be. I just wanted to try them out, and wondered if anyone has experience of them. I would say 99% of my credit card purchases are online (I live in Germany and most shops here don't accept credit cards). I have a MasterCard linked to my Lufthansa Miles & More that gives airmiles for all my transactions, but I still would like something I can use for those occasional "outlier  transactions"

MP2003

I think you're confusing credit cards for prepaid debit cards, which Revolut (and a quick google of the others) are.
Credit cards most often carry a limit and hit your credit rating if you don't pay back statements. These don't do that because there's no credit line.

In terms of a virtual prepaid debit card, they work great, I use revoluts all the time.

born_again

KeithOwen said:

It's more about having a disposable/single-use card for those one-off purchases, where I'm buying from a site I've never used before, and probably won't again. I don't intend to replace my standard cards, rather it will be an additional tool alongside them. Most of these companies are directed at online use - you can get a physical card if you want, but the main intent is that you use an app on your phone to generate a single-use card number when you need it.
It seems like not many people here see a need.

How many times have you suffered fraud due to you perceived lack of security?
If you look, most hack are at well know, very high usage sites. 
For everything else there is paypal