HSBC has introduced its virtual credit card named HSBC Advantage Virtual Card. The card does not exist in physical form and can only be used for online shopping. With this card, you can set your preferred card limit and shop securely on the internet. A virtual credit card is considered as a secure way to pay for goods and services. The card is valid for a limited time and may be topped up with a certain amount only once. After a single successful transaction, the card expires.
Features of HSBC Virtual Credit Card
Some of the significant benefits and unique features of the card are listed below. The virtual credit card, however, provides convenience in the way that you do not need to provide your primary credit card details to the merchant website.
Features & Benefits of HSBC Virtual Card |
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Eligiblity for HSBC Virtual Card
For the ease and convenience of its customres, HSBC has set the following eligibility criteria to avail the virtual credit card facility-
- You should have an existing HSBC Credit Card.
- You should have sufficient credit for the online transaction to take place.
Fee and Charges of HSBC Virtual Card
At present, the bank does not levy any charges on the issuance or use of the card. The HSBC Advantage Virtual Credit Card provides a secure payment option for goods and services, giving you the ability to use the virtual credit card number to settle the suppliers without the need to deploy physical cards across your organisation.
How to generate HSBC Virtual Credit Card?
You can easily apply for HSBC Virtual Credit Card using your Internet Banking or Mobile Banking. Follow the below mentioned steps to generate your card-
Step 1- Visit the official website of HSBC.
Step 2- Log into your netbanking account using User ID and Password.
Step 3- Choose your preferred account from which you wish to draw funds for creating the card.
Step 4- Now click ‘Ok’ to generate your virtual card.
Step 5- You can now use your card to make any online transaction.
How are Virtual Credit Cards different from Physical Credit Cards?
Most of us don’t know how virtual card differs from that of a regular credit card. We have mentioned some of the significant features between the two:
| Virtual Credit Card | Physical Credit Card |
| It can only be used to make online purchases | It can be used for both online and offline transactions |
| Usually you do not get any interest-free period | You can enjoy the interest-free period with this card (generally ranging up to 50 days) |
| Generally valid for a maximum period of 48 hours | Generally expire after a few years from the issue date |
| In majority of cards there are no reward points or cashback given | Reward points or cashback can be earned using physical credit cards |
| It does not help in building your credit score | It helps in building your credit score as well as your credit history |
| It cannot be used at any place where you need to show your card | It can be used at places where you need to present your card |
Compare Similar Virtual Credit Cards from other banks
Given below is the comparison of virtual cards provided by different banks in India on the basis of their key feature and the fee levied on them if any.
| Virtual Credit Card | Annual Fee | Primary Feature |
| HSBC Advantage Virtual Card | Nil | You can set your card’s limit on the purchase you wish to do and reset it again |
| 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 |
| Axis Bank FreeCharge Credit Card | Rs.250 + taxes | Exceptional virtual credit card where you can earn reward points on your purchase |
Frequently Asked Questions (FAQs)
Can I use my virtual credit card for offline transactions?
No, since the virtual credit card has no physical existence, you cannot use them for offline or POS transactions.
Can virtual credit cards be given to add-on cardholders as well?
No, the virtual credit cards are issued only to the primary cardholders.
Do I need to pay any amount to apply for my HSBC Virtual Credit Card?
No, at present the bank does not levy any charges on issuance or use of the virtual credit card.
What limit do I get for HSBC Advantage Virtual Credit Card?
You can set your card’s limit based on the purchase you intend to do. You also have the option to reset the limit
Please Note: HSBC Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.