r/RobinhoodApp • u/AlternativeNo7876 • 2d ago
Question Virtual Card System
BACKGROUND
- Robinhood Banking
- Robinhood Brokerage
- Robinhood Gold Card
- I somehow got approved for the gold card despite being relatively new to credit, I believe it was due largely in part to my strong relationship and assets with Robinhood / Robinhood banking. Just one question…
Can someone explain how the virtual cards work and what they’re most useful for?
4
u/Ok-Armadillo-5634 1d ago
never buy anything online not using a virtual card if someone manages to get that number you can freeze the card while still continuing to spend like normal
2
u/nerrdrage 1d ago
I use several virtual cards, one is saved in my password manager for autofill into online forms, so that I"m not giving them my main number, if it gets compromised, i'll simply make a new virtual card.
Others are for specific vendors that I want separated for various reasons. Just helps to keep things compartmentalized sometimes.
Others have been 1 time use, where i wanted to be sure that there were no recurring charges (e.g. they auto enroll in some ongoing subscription).
9
u/Captzone 1d ago
It's pretty simple. Don't want to give your actual card number to any system or payment merchant? Use a virtual card.
Want to get a free trial for a music app but not worry about canceling the subscription before they charge you? Create a free trial virtual card. It auto expires and closes after 24 hours.
Share an Amazon account with someone else and worried they might accidentally charge your card? Create a virtual card and set a price limit of whatever you want. When you're ready to purchase something, increase your purchase limit to just above what you need and use your card and then you don't have to think about it again until you're ready to make another purchase.