Virtual Credit Cards explained

A virtual credit card is a type of credit card that exists in digital form, either by itself or alongside a physical credit card.

How does a virtual credit card work?

A virtual credit card works in a similar way to a physical credit card in that you can use it to make a purchase or pay for a service, either online or in-store.
Your virtual credit card will usually be stored in your Google Pay or Apple Pay wallet, or in your credit card provider’s app.

When might a virtual credit card be useful?

A virtual credit card could be useful if you need to make an urgent purchase; for example, you need to cover expenses relating to a broken-down car and you don’t have time to wait for a physical credit card to be issued.

A virtual credit card could also be handy if you forget to take your wallet containing your physical payment cards when you go out.

Things to think about before you apply for a virtual credit card

You should think very carefully before you apply for any type of credit card.

• Is a credit card the most suitable credit product for you at this time? Applying for credit is a serious financial commitment and you should take the time to explore all the options that may be available to you before you make a decision.


• Consider how you’d make your repayments if your financial situation were to change; for example, your income reduced or you were unable to work.


• A credit card will affect your credit score. If you make at least the minimum repayment amount due on time each month, and stay well within your credit limit, you could see an improvement in your credit score over time. You will also need to manage any other credit commitments in the same responsible way. However, making a late repayment or missing one altogether will cause your credit score to decline.


• Checking your eligibility for a credit card could reveal your chance of approval before you make a full application. You can check your eligibility for the thimbl Credit Builder Credit Card in just 60 seconds, with no impact to your credit score.*

*If our eligibility checker reveals that you have been pre-approved for a thimbl credit card you will be redirected to our partner, Zable, to complete your application. Please be aware that pre-approval does not guarantee acceptance.
Zable is a trading style of Lendable Ltd. If you choose to make a full application, a creditworthiness assessment will be carried out by Zable. This will consist of a hard search and Open Banking. A hard search will remain on your credit file for up to 12 months and multiple hard searches within a short period of time could have a negative impact on your credit score. Any credit obtained upon successful application will be provided by Lendable Ltd.

Can I use a virtual credit card online?

If approved, you will be able to use your virtual credit card to make a purchase or pay for a service online.

Can I get a virtual credit card with thimbl?

If you’re approved for a thimbl Credit Builder Credit Card, you will be sent a physical credit card in the post. This should arrive within 5-7 working days of approval.

While you’re waiting for your physical credit card to arrive, you could be eligible to use a virtual thimbl credit card, subject to completing an additional fraud check. We’ll talk about this in more detail further down the page.

Who can apply for a thimbl credit card?

You can check your eligibility for a thimbl Credit Builder Credit Card if you:

• Are between the ages of 18 and 70;
• Are a UK resident with at least one year’s UK address history;
• Are employed;
• Have a minimum monthly income of at least £800 after tax;
• Do not already hold a Zable credit card; and
• Are not bankrupt or in an Individual Voluntary Arrangement (IVA).

How to activate your virtual thimbl credit card

Depending on who you hold your main bank account with, you could access to a virtual thimbl credit card before your physical credit card arrives in the post.

In order to use your virtual thimbl Credit Builder Credit Card, you will need to undergo an additional fraud check with our provider, Zable. Using Open Banking, Zable will complete the fraud check on your main bank account, which must be registered in your name.
If Zable is happy with the outcome of their fraud check, and your credit card is approved for virtual use, you can access it through the ‘Card’ section of the Zable app.

Please be aware that some banks do not currently support Open Banking. You can check to see whether your bank supports Open Banking here. If your bank does not appear on the list, you will not be able to undergo the checks required to activate a virtual thimbl credit card at this stage.

What’s Open Banking?

Open Banking is a secure procedure that enables an authorised third party, such as a provider, to access your bank account and view your recent financial transactions. A third party must have your permission before they’re able to access your account and you can withdraw your consent at any time.

What’s the credit limit on a virtual thimbl Credit Builder Credit Card?

Your credit limit is the total amount of money that you are able to borrow on your credit card, although this should never be an incentive to spend money you don’t need to.

The virtual thimbl credit card comes with a starting credit limit of between £200 and £2,000.
The credit limit you could be offered will depend on several factors, including your credit score. Your credit limit will be the same across both your virtual and physical credit cards.

Remember, you should never spend more money on your credit card than you need to or can afford to repay.
It’s also important to stay well within your credit limit. Spending outside of your credit limit could damage your credit score.

What happens if I can’t afford to make my credit card repayments?

If you’re struggling to repay the money you owe, you should stop using your credit card and contact your provider. There could be things they can suggest to help ease some of the pressure.

Where can I find money and debt advice?

Free, confidential money and debt management advice can be found through organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.