Blargh, pretty much if you could spend out of a pot using a virtual card I’d go for it
Right now I have all the functionality I want but it’s across 4 financial apps
Monese - virtual card you can lock and can link to Google pay (its free but you only get one)
Hyperjar - you can link the card to a jar and spend directly out of it
TSB - 1.5% interest
Amex - Credit purchases
The Monzo plus offering is coming close to consolidation, it just needs Amex integration (I’d leave TSB dormant) and a bit more functionality with the virtual cards and I’ll bite. I am sick of working across multiple accounts. Now the question is do I get it for next month and wait for these things, or wait for them and then get it
Book a hotel room and use a VC then delete it (or assign to an empty pot once the feature is available).
As long as it wasn’t an advance purchase, If you don’t turn up or forget to cancel the booking you won’t have to worry about being charged a cancellation fee
I think that if you could effectively switch them on and off (which may come, I believe) then I can see the point. To use and then delete never to be able to use again seems like even the most infrequent user could eventually run out of cards.
For sure, the ability to freeze and unfreeze when necessary would be fantastic and can only enhance the security aspect of the virtual cards.
As much as I would like that, I can only imagine that people would use the card (or accidentally set up a recurring payment) and forget to unfreeze the card, making payments bounce. Could this then affect credit scores?
Yes, it shows an icon on the main page of the VC colour you picked (there’s a screenshot somewhere in this thread) and then I presume more in the transaction details.