If you’re using a virtual card for online purchases or subscriptions, setting up a limit is a smart move to ensure that you don’t overspend or fall victim to fraud. In this blog post, we’ll discuss how to set up a limit on your virtual card and why it’s important to do so.
Why Set Up a Limit on Your Virtual Card?
Virtual cards are a convenient way to make online purchases without exposing your primary credit or debit card information. However, they can also be vulnerable to fraud and overspending. By setting up a limit on your virtual card, you can:
- Control your spending: A limit ensures that you don’t spend more than you intend to or have available in your account. Setting up a credible budget is very important, which you can read more about here.
- Protect yourself from fraud: If a fraudster gets hold of your virtual card information, they won’t be able to spend beyond your limit.
- Avoid unauthorized charges: A limit can prevent unauthorized charges on your virtual card by limiting the amount that can be charged.
How to Set Up a Limit on Your Virtual Card
The process of setting up a limit on your virtual card may vary depending on the issuer or platform you’re using. Here’s how to do it through Onyx Private:
1. Log in to your account on the app and click the cards tab at the bottom of the screen, and then click on the virtual card you would like to limit. This is where you can manage your virtual card and make changes to its settings.
2. Look for the “Limit (monthly)” option. This is where you can set the maximum amount that can be charged to your virtual card.
3. Choose the limit amount that you’re comfortable with. Keep in mind your budget and spending habits when setting the limit.
4. Save the changes. Make sure to double-check the limit amount and any other settings you may have changed before saving.
With Onyx Private, setting up a limit is a breeze. With just a few clicks, you can protect yourself from overspending and fraud.
In conclusion, setting up a limit on your virtual card is an important step in managing your finances and protecting yourself from fraud. If you’re using an Onyx virtual card, it’s easy to do so through the app. Take control of your spending and stay protected with a limit on your virtual card.