Axis Bank provides 2 virtual credit cards- Purchase Control Virtual Credit Card and Axis Bank FreeCharge Credit Card, to make the online transactions convenient for you. Virtual credit cards are online cards that are not physically issued and help you to transact easily and securely using your smartphone. The Purchase Control Credit Card provides all the basic benefits of a virtual credit card while the Axis Bank FreeCharge Credit Card exceptionally provides you with certain offers and rewards.
Features and Benefits of Axis Bank Virtual Credit Card
Given below are some of the significant features of both the cards:
| Purchase Control Virtual Credit Card | Axis Bank FreeCharge Credit Card |
| ● The card gives you complete over the use of your accounts through transaction-level authorities
● You can keep track of all your transactions with 29 customizable fields ● Create your card instantly online ● Set a maximum spending limit per transaction & per month ● Virtual account number is created through a batch field upload |
● Can be generated instantly via the FreeCharge app
● Earn EDGE Rewards on achieving milestones ● Up to 10% off on Myntra ● Get up to Rs.100 credit on Shuttl every month ● Rs.120 discount on Freshmenu every month ● Get 50% off on your Eros Now Annual subscription |
Eligibility Criteria for Axis Bank Virtual Credit Card
For the ease and convenience of its customers, Axis Bank has set the following eligibility criteria to avail the virtual credit card facility-
For Purchase Control Virtual Credit Card- The eligibility of Purchase Control Virtual Credit Card by Axis Bank depends solely on the discretion and credibility of the bank. Although the bank would ask you to submit a few sets of documents.
For Axis Bank FreeCharge Credit Card- The Axis Bank FreeCharge Credit Card is an invite-only card. If you are eligible for the card you will be able to see the banner on your FreeCharge mobile app.
Fees and Charges for Axis Bank Virtual Credit Card
Given below is a list of fees and charges associated with both Purchase Control Virtual Credit Card and Axis Bank FreeCharge Credit Card.
| Primary Feature | Charges for Purchase Control Virtual Credit Card | Charges for Axis Bank FreeCharge Credit Card |
| Joining Fee | Communicated at the time of sourcing | Rs.250 + Applicable Taxes |
| Annual Fee | Communicated at the time of sourcing | Rs.250 + ApplicableTaxes |
| Finance Charges | 2.95% per month | 3.40% per month |
How to Generate Axis Bank Virtual Credit Cards?
You can easily open Axis Bank Virtual Credit Card by following the below mentioned steps-
Step 1- Visit the official website of Axis Bank.
Step 2- Go to the ‘Retail’ section and click on ‘Cards’ option.
Step 3- Select ‘Credit Cards’ option for Axis Bank FreeCharge Credit Card and ‘Commercial Credit Cards’ option for Purchase Control Virtual Credit Card.
Step 4- Open your preferred card page and click on ‘Apply’.
Step 5- Fill the online application form with all the required details and submit the form.
You can also apply for the same by visiting your nearest Axis Bank branch.
Virtual Credit Card Vs Physical Credit Card
Given below is the list of differences between virtual and physical credit cards. Although the virtual credit card may seem more convenient but there are certain limitations associated with it.
| Virtual Credit Card | Physical Credit Card |
| Can only be used for online transactions | Can be used for both online and offline transactions |
| Generally no interest-free period is given with this card | You can enjoy the interest-free period with this card |
| Generally valid for a maximum period of 48 hours | Generally expire after a few years from the date of issuance |
| In majority of cards you do not avail reward points or cashback | Reward points as well as cashback can be earned |
| It does not help in building your credit score | This card helps in building your credit score and history |
Comparison of Similar Virtual Credit Cards from other banks
Have a look at the given below table and compare different virtual credit card options offered by varied banks in India.
| Virtual Credit Card | Annual Fee | Primary Feature |
| Axis Bank Purchase Control Virtual Credit Card | Communicated at the time of sourcing | Set a maximum spending limit per transaction & per month |
| Axis Bank FreeCharge Credit Card | Rs.250 + taxes | Exceptional virtual credit card where you can earn reward points on your purchase |
| HDFC NetSafe | Nil | You can use it on any merchant website that accepts Visa / Mastercard Credit Cards |
| SBI Corporate Virtual Credit Card | Nil | The card has a customized validity and hence is valid for single / multi use |
| Kotak Mahindra Bank Netc@rd | Nil | It is universally accepted and you can shop on any website that accepts Visa Cards |
| ICICI Bank Virtual Credit Card | Nil | You can change the maximum limit on your VCC within overall limit of your primary card |
| HSBC Advantage Virtual Card | Nil | You can set your card’s limit on the purchase you wish to do and reset it again |
Frequently Asked Questions (FAQs)
Are Virtual Credit Cards safe?
Yes, all your credit card details are not shown to the merchant website. Additionally, once the transaction is complete, the card number is no longer valid.
Can I use my virtual credit card for EMI?
No, You cannot because, (VCC) have a maximum 48 hours of expiration period.
How long does it take to receive a VCC?
Virtual Credit Cards are delivered instantly after successful bank’s verification. After the process, you can easily see all the details online and use them for online transactions.
Can a separate card be issued to add-on cardholders?
No, VCC can only be issued to the primary cardholder.
Please Note: Axis Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.