Technology has been fast advancing and with time, our physical or traditional banks have developed and are turning virtual to provide online or virtual banks.
Physical banks provided us Credit cards for all of our deposits and removal of funds and Virtual banks also did that and now, Virtual banks have an increased number now and are gradually displacing physical banks as the days goes by.
Talking of this, some of you might not know what a Virtual Credit card is and also what a credit card provider is. But we will also make that clear to you as you read below.
And so, in this article today, we will be bringing to you the best free or paid Virtual Credit Card providers in Australia this year 2024.
Table of Contents
The Best Virtual Credit Card Providers in Australia
And so, to begin, what is a virtual credit card and what is a virtual credit card provider? And how does all of these things work?
What is a Virtual Credit Card and How does it Work?
A virtual credit card is a digital version of a credit card that may be used for the same transactions as our physical credit cards. All of the information on a virtual card is saved online(virtually) or in an app, so you don't have to wait for a physical credit card to arrive in the mail before using it.
A virtual credit card or also an online credit card, works in the same way as a traditional credit card and meets the same eligibility requirements, but it can be used right away. This is quite useful, but it can also be dangerous if you are the type of person that spends a lot.
So before you apply and start buying, be sure you have a plan of expenditure. Also, Virtual Credit cards can be used everywhere as long as you have your mobile phone with your virtual credit card connected in it.
Also, when we say Credit card providers(VCC) Providers, we simply mean platforms or apps that permit one to own a credit card online. And there are different card providers in several countries. With these platforms or providers, you will be eligible to a virtual credit card or an online credit card.
How to Apply for a Virtual Credit Card in Australia
Traditional banks and virtual banks have the same features and things they provide and for credit cards, they do offer them the same way. And so, to apply for a virtual credit card, it will be exactly the same way like that of the physical credit card.
Everything is the same except may be for the fact that there are some other requirements to be met that you might not see them in the physical credit card application. But apart from that, you will always see the procedure or the application method to use the same both virtually and physically.
The Best Instant VCC Providers in Australia 2024
Instant virtual credit cards are ones that you can use immediately after being approved. As with any bank card, the virtual credit card has a card number, an expiration date, and a CVV.
With these credit cards, there are some that are physical banks that provide both physical credit cards and virtual credit cards and some that provide only virtual or online credit cards.
And so, below, lest get started with the best online credit card providers in Australia.
1. Moneyme Freestyle Virtual Mastercard
MoneyMe Freestyle is one of the Best if not the Best VCC provider for personal use is Australia. MoneyMe Freestyle has made everything very easy and quick going for their users.
They provide instant virtual credit cards in Australia and immediately you apply, in some minutes, you are approved. It is even quicker when you apply during business hours and business days. MoneyMe Freestyle also offers Virtual Credit Accounts from $1000 to $2000.
You must be employed, 18 years of age or older, and also be an Australian resident to be eligible for a MoneyMe Freestyle Virtual Credit Account. Simply click "Apply now" to complete this simple online Freestyle credit application. It only takes a few minutes to apply, and once your Freestyle account is approved, you may start using your credit line right immediately.
Fees and charges
Interest rate 16.99%3
Credit limit approvals up to $20,000
Minimum withdrawal amount is $100
Monthly account fee of $9
Only applies if outstanding balance is over $20
Annual fee from $0 to $149
Dishonour fee of $15
Overdue account fee of $15 - when account is not up to date
Based on your credit limit and rating
This interest rate is based on the Annual Percentage Rate (APR). Our APR is calculated daily by applying the daily APR and charged in arrears on the outstanding balance of your loan to the date your payment is due.
2. Paypal Reward Cards
Paypal is also one of the most visited online platforms when it comes to creating virtual credit cards. Paypal also provides a Free virtual Credit card for any of it's users. You can read the article below and learn how you can get you Paypal account in any country
MUST READ: How to create a free and fully functional paypal account to receive money
If you have your paypal account, then all you have to do is to apply for a virtual paypal virtual card. And there are some eligibilities to be able to get a free paypal credit card.
Why choose Paypal Reward Cards?
Bonus Points: 50,000: Spend $3,000 or more on eligible transactions in the first three months after receiving your card, and you'll get 50,000 bonus points.
There are no annual fees associated with this credit card, none at all.: 1 That's $275 to spend at tens of thousands of PayPal merchants! 1 yearly credit card charge of $0
Unrestricted reward points: For every $1 spent on eligible transactions, you'll get one point.
Spend your points wherever you like: Spend your points in PayPal's Checkout at one of the 750,000+ businesses that accept PayPal. For additional information on how to spend rewards points.
You can use your points to pay for certain purchases: Use your points to pay for a qualifying transaction in your PayPal Rewards Card account.
On balance transfers, there is a 0% annual percentage rate for the first 20 months: At the end of the promotional time, the balance transfer rate reverts to the cash advance rate. While you have a balance transfer, there are no interest-free days on retail purchases. 3
Options for payment: Make monthly payments over a predetermined period of time to pay off your purchases.
Zero Liability Visa: Shop with confidence at millions of merchants all around the world.
Up to four additional cardholders can be added at no cost: Additional cardholders' eligible spending counts toward your rewards!
Services of a Concierge: For tickets and hard-to-find products, you'll have a personal concierge at your disposal.
3. American Express Go
American Express Go is an expense solution that works in tandem with your Corporate Card program to make things easier for you. It's a faster and more flexible method to pay on-the-go for your contractors, freelancers, recruits, and infrequent travelers.
American Express Features:
- A sizable welcome offer
- Program administrators can issue virtual cards to employees using the American Express Go interface.
- Payment is completed through an app rather than using a standard credit card.
- Employees can start using virtual cards as soon as they are issued.
- Among the fields that can be adjusted are cost centers and spending constraints.
- The site provides access to reports and reconciliation data.
4. DiviPay Virtual Card
DiviPay is a virtual corporate card and expenditure management platform that helps finance teams better monitor, control, and streamline spending throughout their company.
Instant virtual corporate cards, automatic bill payments, card controls and budgeting, a real-time transaction feed, automated expense reports, strong accounting integrations, subscription spending management and special rewards are all included in DiviPay's simple web and mobile interface.
At the Xero Awards, DiviPay was named Emerging App of the Year for 2019. And so, you can now know that DiviPay is undoubtedly one of the best virtual credit card providers in Australia.
DiviPay Features
- In seconds, you may create an unlimited number of virtual corporate cards, reducing the need for reimbursements and eliminating credit card sharing. All of this is done without the need of paperwork.
- Each transaction's merchant data, GST, and GL codes are automatically captured by DiviPay, saving your team hours of expense reporting each week.
- Create spending restrictions to limit which merchants and how much money you spend. Budgets and a real-time transaction feed ensure that you always know where and why your company's spending are coming from.
- Virtual Business Cards
- Subscription Management Card Controls Expense Management
- Transactions in Real-Time
- Integrations in Accounting
- Smart Receipts for Rewards Lines of Credit
5. Westpac Flex Card
Westpac is one those banks that provide both physical and a virtual credit card and they have very good and easy quick access. All you have to do is to apply for a card and when your approval is done, then you can now get your credit card virtually and enjoy your Westpac virtual credit card.
Westpac Features
- Convenience; Even if your physical card isn't with you, you won't be without access to your funds.
- Security; Your 3-digit security number is dynamic, meaning it changes every 24 hours to keep your information safe.
- Compatibility; To make in-store purchases, add your card information to your mobile or wearable wallet.
- Continuity; If your physical card is lost or stolen, you can use the Digital Card to immediately update your digital wallets, online subscriptions, and set up recurring card payments.
6. AirPlus Virtual Card
A MasterCard® credit card number is produced for payment via the virtual credit card, which can be used to pay for travel services and many other services anywhere in the globe.
Each card number can be tied to a single reservation and customized with a certain amount, validity term, and currency. This makes AirPlus Virtual Cards safe and versatile, especially for employees who don't have access to a corporate credit card or for service providers who travel on your dime.
AirPlus Features
- From a central company account, all transactions are invoiced monthly.
- Statements that are adaptable
- For your transactions, you can rapidly generate virtual Mastercard credit card numbers.
- Virtual cards should only be used for a specific purpose, currency, spending limit, and time period.
7. Bendigo Bank
Low rate card, Platinum card, and Qantas Platinum Credit Card are the examples of cards they offer you. And depending on your budget, you can get any one of your choice. The only thing will be to apply where you will love.
But for a start, we will always recommend you to go for the Low rate card which is done for free, with a very Low annual fee of $45 and low interest rate of 13.99% p.a.
Interest on purchases (Eligible Transactions) is waived for the first 18 months after account opening, provided that minimum monthly repayments are paid and the account is not otherwise in default. The leftover purchase balance will return to ordinary purchase interest rate after 18 months from account opening.
The Top VCC Providers for Personal use.
As we said above, there are in this list some platforms that are specialised for personal use meanwhile some have a specialty with businesses and are very good in assisting businesses. And so, below, is the list of the virtual credit card providers for personal use.
- MoneyMe Freestyle
- Paypal Rewards Cards
- Bendigo
- Westpac Flex Cards
- Latitude Credit cards
- Bankwest Credit Cards
The Top VCC Providers for Business and Corporate Organizations
Also, we have the free Australian virtual credit cards for personal use above and, let's see the best Australian Virtual Credit cards for Business and organizations. They are;
- American Express Go
- AirPlus Virtual Cards
- CommBank virtual cards for businesses
- DiviPay
- HSBC Virtual Card
- VoloPay
- Westpac Virtual Card
What are some of the Benefits of Using Virtual Credit Cards?
1. Security
Who does not like when he or she does things and is free from frauds and thieves? And so, Virtual Credit cards are for you and if you feel not safe with your physical credit card, then you can use virtual credit cards. Some people could think Virtual credit cards are less secured than physical credit cards but that's all the opposite.
Virtual cards are considered far more secure and safe because they allow you to set a precise maximum spending restriction at any moment.
You also have the option to cancel your account at any moment with just a click of a button if you are concerned about data leaks.
Instead of sending the same set of bank numbers to third parties over and over, each transaction includes a one-time use bank number that you can use to complete the transaction.
2. Lower Cost
Customers are forced to pay far fewer fees in many virtual banks. You can truly receive cash rebates for only paying your suppliers or buyers with every dollar spent.
Virtual cards, on the other hand, have no charges associated with them. Because everything is done online, the virtual bank may lower its operating costs, allowing them to charge consumers less. As a result, you may sit back and generate money.
You can also earn cashback and take advantage of other promotional deals. When it comes to checks, most traditional banks charge customers based on the size of their business, which can range from $3.00 to $25.00.
3. Much more Control
Virtual card users have greater control and flexibility than those who use traditional cards.
Instead, than having a bank-imposed preset spending restriction, customers can set their own spending limitations for their accounts and decide when to freeze or close them.
Furthermore, because these single-issued virtual cards can be given to a certain individual for a specific amount of money, you have more control over how much you spend.
4. Convenient for E-commerce
Unlike traditional banks, which have set working hours, virtual banks work around the clock, 24 hours a day, seven days a week, only to be ready to help you with your international business whenever you need it.
What's more, you don't even have to waste time going to a physical branch; instead, with just a few clicks on a phone, laptop, or iPad, you can simply complete transactions online to make your business as effective as possible.
You can also bypass the 7 or 14 business days it takes to set up your account. Because everything is controlled by computers.
5. Track your cash flow anywhere, at any time.
When dealing with payments to vendors or suppliers, cash flow might become a little tangled when you're trying to make the payments before a deadline.
With virtual cards, on the other hand, you can keep track of the funds available using the information offered by the system.
As a result, you'll be able to improve internal transparency and efficiency in the payment process. There are also other features such as allocating virtual cards to specific people, such as merchants or suppliers, and keeping all transaction sources tidy and clear.
To get or have a virtual credit card, you have to apply for a virtual credit card and you have to be approved first with the need of some requirements that you meet up before the application is approved or accepted.
Conclusion and Closing Remarks on Best Instant Virtual Credit Card Providers in Australia
What more than to say wow! After this, you will now know how to go about if you want to get a virtual credit card in Australia. We have provided the virtual credit cards in Australia for Personal use, and also, the Free instant virtual credit cards for Businesses and for Corporate Organizations.
In addition to what we described, we also named some other platforms and with these platforms, you can get more about them by searching, or you can join us on our telegram channel and let us know your problem.
You can also subscribe to this blog and get every bit of notification about our blog and what we upload.
- How to get free Virtual Credit Cards in the US
- How to Get a Free Virtual Credit Card Online For All Countries
- How to Get a Free Virtual Credit Card Online Without Bank Account
- The Best Virtual Credit/Debit Card Providers
- How to Bypass Credit Card Verifications: Two different methods
- The Best Free virtual Credit/ Debit Card Providers in USA
- How to Setup Paypal Key and Get a Free Virtual Credit Card
- The Best Virtual Prepaid Cards for International Shopping
- How to Get Money off and Expired Debit Card Easily
- How to Bypass CVV Code
- How to Bypass Credit card Age Verification
- How to Get a Virtual Bank Account in the US Without SSN