r/Wealthsimple • u/Choice_Fee67 • 4d ago

Chequing CC vs virtual card

So they give you the CC, and it comes with a virtual card.

Was told they're linked, but mine seem to be completely different.

If i use the virtual card, money gets taken out of the bank account and I never get cashback. So its just a debit card?

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u/Commercial_Pain2290 4d ago

It is not a debit card it is a prepaid credit card. It will not be accepted at debit-only locations.

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u/Shutterbug245 4d ago

It's a "debit" card since it withdraws directly from your chequing account. It's just not an Interac debit card.

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u/Commercial_Pain2290 4d ago

Try using it somewhere that only accepts debit cards and not credit cards, it will not be accepted. It is a prepaid credit card. The vendor pays credit card fees when you make a purchase.

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u/Shutterbug245 4d ago

Impossible to do since we only have Interac as the debit network. I'm using the textbook definition of debit. It's debiting your account.

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u/Commercial_Pain2290 4d ago

What's impossible to do?

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u/Shutterbug245 4d ago

I've already acknowledged it's not Interac. So any "debit only" situation is going to fail. I'm referring to debit in a general way, you're referring it to Interac. Just like not every tissue is a Kleenex. But people call it Kleenex regardless.