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    credit card charges on gambling?

    I am thinking of signing up to some gambling sites through quidco, but do credit cards charge you for using them on gambling sites? I think i remember hearing somewhere that they are like cash advances and incur fees, is that right?

    Also whats the best deals to go for when signing up for gambling sites at the mo?

    8 Comments

    stanley

    I am thinking of signing up to some gambling sites through quidco, but do … I am thinking of signing up to some gambling sites through quidco, but do credit cards charge you for using them on gambling sites? I think i remember hearing somewhere that they are like cash advances and incur fees, is that right?


    Yes that is correct.If you don't want fees use your bank card.:)

    Is this new?
    Remember reading somewhere, someone racking up thousands of Nectar points on a Natwest Nectar Credit Card? by depositing £500-£2000 a time from a credit card to a gambling site, making £1 bets, and withdrawing rest to their Current Account to then pay off the credit card.

    It's true that some credit card companies either charge a nominal fee (say £3) for a gambling transaction or treat them as cash advances.

    Blame those that lost their money then went running to the credit card companies doing chargebacks for this. You know the ones, ones that whinge about everything and take no responsibility for themselves.

    CC companies have got sick of it so now charge. Don't blame them. However, you do still make points and cashback on all the cards I have. So make a big enough deposit and it outweighs it. Say deposit £1000, on an Egg Money card that's £10 cashabck. All get's a bit confusing when you draw it back to your card though as it cane be looked at as a refund.

    As for using your debit card. if your thinking about applying for anything that requires bank statements in the near future, don't....or get a seperate current account.

    grdesign

    As for using your debit card. if your thinking about applying for … As for using your debit card. if your thinking about applying for anything that requires bank statements in the near future, don't....or get a seperate current account.


    Why is that? Do they think you have a gambling addiction?
    OOPS - Edit - don't mean you personally just anyone with transactions from gambling sites on bank statement

    Basically yes, caused me problems. 'SIr I can see transactions for 32 Red, William Hill amongst others, which is obviously a major concern for us'.

    I was only doing the monthly bonus bagging, which made me a fair bit of money and still does. Just don't do it through my bank anymore.

    Stopped me getting a mortgage with the woolwich. Or at least that's what they told me, the underwriter saw me as too high a risk to them because of the transactions.

    WOW - thanks for that - I'm a bit of a bingo fan - don't spend much money - only about £20 a month but now I'm wiser I won't be putting it through my main bank account.

    £20 a month shouldnt hurt. I was putting 300-400 through each month. Raking back a minimum of £700, but they wouldnt take the returns into consideration.

    Still do it, but now use credit cards!

    grdesign

    £20 a month shouldnt hurt. I was putting 300-400 through each month. … £20 a month shouldnt hurt. I was putting 300-400 through each month. Raking back a minimum of £700, but they wouldnt take the returns into consideration. Still do it, but now use credit cards!



    Can you PM me on how you do this? This sounds like a challenge?
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