What is an American Express Virtual Credit Card?

American Express Virtual Credit Card is a virtual card that can be used at most online outlets. Some users may prefer this than to use physical credit cards. This article will explore all there is to know about American Express Virtual Credit Card including its benefits and disadvantages.

What are the benefits of American Express Virtual Credit Cards?

The first benefit of the American Express Virtual Credit Card is that it does not expire. While it may be beneficial to some, there are many who do not prefer having a credit card with an expiry date.

Another benefit is that you can earn rewards points when shopping online or offline through American Express Virtual Credit Card. As long as you have your virtual card number, you can use it to earn points that can then be converted into miles or cash.

You can also manage your credit card account online anytime through the American Express Virtual Credit Card service portal. This means users of this virtual credit card do not have to queue up in long lines when they need to make inquiries about their accounts.

What are the disadvantages of American Express Virtual Credit Cards?

One of the most notable disadvantages of using AMEX Virtual Credit Cards is that you cannot use this to withdraw cash at ATMs. If you are used to withdrawing money at ATMs, this card will not be ideal for you. This virtual credit card can only be used for online transactions.

American Express Virtual Credit Card also does not come with a physical credit card that you can bring along on your journeys, and this may be an issue to some people who prefer having a credit card for use when they need cash at any time and anywhere.

Another thing to keep in mind is that it may take up to 10 days for the points you have earned from transactions with American Express Virtual Credit Card to reflect on your account. This can be rather inconvenient if you need to buy something urgently and do not have enough cash.

What are the fees of AMEX Virtual Credit Cards?

There are no monthly fees when you use an American Express Virtual Credit Card. The only fee that you need to pay is when transacting with this virtual credit card, which comes in the form of a percentage of 1.5% for each transaction plus an initial processing fee . However, there are no annual fees whatsoever for using AMEX Virtual Credit Cards.

Do I have to pay for internet transactions with American Express Virtual Cards?

AMEX Virtual Credit Card comes with no activation fees, monthly, annual or any other type of fees. The only fee you need to pay is when transacting online, which will come up as a percentage of 1.5%.

What are the requirements of American Express Virtual Credit Card?

As long as you are a customer who is aged 18 and above, you qualify for an AMEX Virtual Credit Card. You also need to have a working email address and a valid phone number to make sure that all the notifications will go to the right place.

You can apply online through the American Express Virtual Card service portal after filling up a simple online application form. You will then be notified of your application status by the system itself a few days later.

What is the difference between American Express Virtual Credit Card and Blue from American Express?

Blue from American Express is instead a physical credit card with no annual fee attached to it, unlike American Express Virtual Card. Blue from American Express also comes with swipe fees waived for the first 12 months of usage, a one-time enrolment fee and a signup bonus. The rewards points earned with Blue from American Express can only be used in the United States.

American Express Virtual Credit cards are available in all other countries.

However, there are annual fees attached to Blue from American Express after the first 12 months of usage, which can be waived if you spend at least P150,000 in a year. This is not applicable for American Express Virtual Cards though. The rewards points earned with Blue from American Express can only be used in the United States. American Express Virtual cards are available in all other countries.

How to use the American express virtual credit card feature of this service?

You can get started by signing up on the American Express Virtual Credit Card feature on the service portal. All you need to do is provide a few details such as your date of birth, address and phone number. Once you get an email notification that your account has been activated, all you have to do next is to add funds in US dollars to your account via the service portal. You can choose to deposit funds to your virtual credit card in three different ways: you may use your PayPal, get instant credit or set up a direct debit.

You are now ready to make purchases online with your virtual credit card. All you have to do is key in the details on the space provided on the checkout page of any merchant that accepts American Express Virtual Credit Card as a payment option. You will then be asked to enter your details for verification before you can complete your purchase online. The funds will automatically be deducted from your virtual credit card account when you complete the transaction. There are no other fees attached to the use of this service so you will not have to worry about any withholding tax or foreign exchange fee.