6 Reasons To Use A Virtual Debit Card

Written by Banks Editorial Team
3 min. read
Written by Banks Editorial Team
3 min. read

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Virtual debit cards are a safe and convenient payment method. You can make purchases both online and in-person and minimize the risk of your account information being stolen or compromised. Here are six reasons why you should consider adding a virtual debit card to your wallet. 

Get a Digital Credit Card
Access a revolving line of credit based on your cash flow, not your credit score, with the Grain digital credit card.

What is a Virtual Debit Card?

A virtual debit card can be used to make purchases and cover expenses. It’s stored on your phone and comes with a unique 16-digit card number, expiration date, card verification value (CVV) number and PIN.

Do Virtual Debit Cards Work Like Normal Debit Cards?

Virtual debit cards operate like normal debit cards. However, they cannot be used to make ATM withdrawals. 

Where Can You Use a Virtual Debit Card?

They can be used at brick-and-mortar retailers and stores that accept contactless payments. You can also use virtual debit cards to make online purchases. 

Are Virtual Debit Cards Safe to Use?

Account information is stored in a password-protected mobile application, making virtual debit cards safe to use. Furthermore, you have the option to disable the card at any time if you find or suspect your account information has been compromised. 

Top 6 Reasons To Use A Virtual Debit Card

Below is a breakdown of key reasons why virtual debit cards are worthwhile. 

1. Hassle-free Application

Most financial institutions let you apply for a virtual debit card in seconds online or directly from the mobile app. Upon approval, you can activate it right away, usually at the tap of a button, and begin using it to make purchases and pay bills. 

2. Easy Approval and Activation

You’ll typically get approved for a virtual debit card in minutes, and you won’t have to visit an ATM or call a toll-free number to activate it. Instead, you can start using it immediately once it appears on your financial institution’s mobile app.  

Get a Digital Credit Card
Access a revolving line of credit based on your cash flow, not your credit score, with the Grain digital credit card.

3. Bank-level Security

Virtual debit cards are backed by bank-level security to keep your card number and other important information hidden from fraudsters. Furthermore, they cannot be cloned or stolen like a physical card. And in the event your virtual debit card information is exposed due to a data breach, it can be shut down right away to make it inaccessible to cyber thieves.

4. Safe Online and In-store Purchases

You’ll have peace of mind knowing your account information is secure when shopping online. And if you choose to shop at a retail location, you’ll select the contactless payment method to use your virtual card number. So, your card information will never be in the hands of the cashier. 

5. Easily Track Your Spending Anytime Anywhere

Monitor your spending in real-time via the mobile app, even if you’re constantly on the go. Most virtual debit card issuers also let you set spending limits and will either deny the transaction or notify you when your purchase is at or above the preset amount. 

6. Some Help You Build Credit

Virtual debit card activity isn’t reported to the three major credit bureaus – Experian, Equifax and TransUnion. But if you opt for a virtual credit card, you could start building credit, assuming your manage your account responsibly by keeping your utilization low and making timely monthly payments. 

How to Get a Virtual Card Online

Perhaps you like how virtual debit cards work but would you prefer a virtual credit card instead? Consider Grain, a mobile app that gives you access to a virtual line of credit, no credit check required. There are no minimum credit score requirements or credit checks for credit lines up to $1,000, and you could get approved in minutes. 

To get started with Grain, download the mobile app on your mobile phone or other electronic devices. Set up an online profile and connect your primary checking account used to receive direct deposits, pay bills and make everyday purchases. 

Grain will review your account activity, assess cash flow and present you with a pre-approved credit offer within minutes. Once you’re verified, and your account is open, you can move funds from your line of credit to your checking account and swipe your debit card to access the funds.

It’s that simple, and you’ll start with a line of credit of up to $5,000. Then, with responsible use, you could qualify for line increases over time. Plus, Grain reports to the credit reporting agencies – Experian, TransUnion and Equifax – monthly to help strengthen your credit health. And you can view your credit score and monitor its progress over time directly from the Grain app in the Profile tab. 

Take a few moments to download the Grain app to your Apple iPhone or iPad and see what it has to offer. Grain is currently available on the App Store, or you can join the waiting list if you have an Android phone or device to get notified when it’s released on Google Play. 

Get a Digital Credit Card
Access a revolving line of credit based on your cash flow, not your credit score, with the Grain digital credit card.

Disclaimer: Credit offer based on cash flow in the linked checking account and may require a credit check. All accounts are subject to ID verification and approval. See your Credit Agreement and Terms of Service for further details.

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