Compared to physical credit cards, virtual credit cards offer greater convenience. However, during the application process, there are several key aspects that require attention. This article will discuss important points to consider when applying for virtual credit cards on platforms like OneKey, 51VCard, XiaoHongCard, and Dupay.
- The Most Important Factor: Do You Need Real-Name KYC?
Currently, OneKey and XiaoHongCard require real-name verification (XiaoHongCard allows you to purchase verified accounts, which counts as semi-anonymous). 51VCard and Dupay allow you to apply without real-name verification, but you also have the option for real-name applications. FeiyangCard is a batch application platform that doesn’t require real-name verification, but the validity period of the cards is shorter.
- Recharge Convenience:
The platforms mentioned above allow direct recharges using USDT. The differences in supported blockchain networks result in varying Gas fees during recharge, so it is best to choose TRC20 or OP chains, as BSC has relatively lower fees, while ETH main chain fees are too high. The BTC chain should be avoided altogether, and platforms that do not support USDT are not considered here.
- Various Fees:
Virtual credit card platforms charge fees at different stages such as card issuance, recharging, and consumption. Here are the specifics:
Card Issuance Fee
- Some platforms charge a one-time issuance fee, which typically ranges from $2 to $50. There may be different fees based on various tiers, as seen with 51VCard.
- The issuance fee usually correlates with the type and functionality of the virtual credit card. For instance, cards that support international transactions may incur higher issuance fees.
Recharge Fee
- Virtual credit cards must be recharged before use, and a certain percentage of fee is usually charged during this process, typically ranging from 0.5% to 2%.
- Some platforms may set a minimum recharge amount; for example, the minimum recharge could be $10. Note that the recharge fee refers to the cost associated with the USDT recharge on card-issuing platforms.
Consumption Fee (Transaction Fees + Cross-Border Fees)
- When using a virtual credit card for purchases, a transaction fee is generally applied, which can range from 0.5% to 1%.
- For international transactions, currency exchange fees may also apply, typically between 1% and 2%.
- Currently, the major platforms offer cards that are primarily US and Hong Kong cards. Hong Kong cards generally do not charge cross-border fees.
Other Fees
- Some platforms may impose additional fees, such as withdrawal fees, refund fees, and account maintenance fees (monthly or annual).
In summary, you should choose a card-issuing platform based on your actual consumption scenarios. If you value reliability and want to protect your personal information, consider platforms like OneKey or Dupay. If you frequently use the card for everyday purchases and seek low transaction fees without cross-border charges, choose accordingly. Should you require bulk card issuance for tasks, platforms like Feiyang are more suitable. If privacy is a concern, opt for platforms that do not require real-name verification and allow convenient USDT recharges.
This article will publish reviews of known platforms, so feel free to check our other articles for in-depth evaluations of card-issuing platforms or leave comments for discussion.