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Credit Card Applications » News » Other » Credit Cards for Virtual Currency

Credit Cards for Virtual Currency

March 14, 2007 | Updated on March 14, 2007
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The content is accurate at the time of publication and is subject to change.

Credit cards with gifts of virtual currency will make your living

It is little wonder that banks and credit card companies will go all out to get us to complete their online credit card applications and to spend fabulous amounts with their credit card. Your creditors promise to generously praise your applying for credit card and using credit card right up to the maximum. And all credit consumer categories seem to be involved in loyalty programs for credit card rewards but one. Who are they, do you think?

Surprisingly enough, it is supposedly the widest category of customers - online gamers. Why not reward them for using credit card and spending money with it in reality and allow them to make money in the so-called Second Life?

Credit card applications with loyalty programs for rewards were initiated by Airlines and were designed to keep customers using services of a certain carrier. Their credit card rewards came in the form of big discounts on tickets or even free of charge airline tickets. Credit card applications for frequent flyers are offered by such giant credit card issuers as American Express, Discover Bank and Bank of America and function really like a fountain of lavish rewards for travelers. So, it appears, you make or save money doing your favorite business.

Well, why not provide the same credit opportunities for people living, playing games or doing work in the virtual world? All the more so, there’s special virtual currency used by online players every day and it is very likely that credit card companies will soon offer us credit card applications to reward you with this virtual money for spending real money.

Linden dollars are the currency flowing through the virtual world of the Second Life which the “residents” can use for carrying out financial operations virtually and thus make their living in the real world. It is expected that Visa and MasterCard companies, already providing private label reward credit cards, will implement the idea of rewarding their consumers with gifts of such virtual currency.

In this way credit card companies together with game companies will link real money with virtual currency and will do it by means of credit card. Thus, the more you spend with your credit card in the real world, the more Linden dollars you earn. What is a virtual dollar? In fact it is just a number in your computer and the larger number you accumulate, the more reward opportunities you have.

What’s more, the pretend currency, or Linden dollars, allows Second Life residents to purchase virtual things. Remember though, if you want to earn virtual coins, you are supposed to use real-life currency. As it is today, one dollar is worth 271 Lindens, so with some credit card companies you will be able to earn an amount of Lindens based on the dollar amount you spend with their credit card.

So, the scheme is simple. You apply for private label reward credit card and make purchases with it. The more money you spend with your card, the more virtual coins, or Linden dollars, you gain. By turn, Linden dollars can actually be sold for real currency and wise and thoughtful residents of the Second Life can earn hundreds of thousands of real American dollars!

It is a matter of not “if” but “when” credit card companies and game makers will bridge the real dollars with virtual money and provide credit card applications to implement it. Be on the alert, and check your credit score to ensure guaranteed credit card approval for the soon coming credit card with gifts of virtual currency.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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