Is it Wise to Deposit Using a Credit Card?

Posted by: CasinosOnline in Articles

There are pros and cons of using most casino banking methods and options, and in the following guide we are going to be taking a look at all of the pros and cons of opting to use a credit card to find your casino site account.

The first thing you should be aware of is that using a credit card to gamble online no matter what gambling activity you are thinking of having and in what playing environment can be expensive, for at the end of the month if you do not pay off your credit card bill in full you will then be hit will interest fees and charges.

Be aware that it will be dependent on just which company issued your credit card as to whether you will indeed be permitted to gamble online using that card, as some companies have put blocks on their credit cards being used for any type of gambling activities, and as such you may find your credit card is going to be constantly denied at some casino sites!

Can I Withdraw Winnings to a Credit Card Account

Many casino deposit options will also allow you to withdraw winnings back to those deposit options, however that will not be the case if you choose to use for example a MasterCard credit card to fund your casino site accounts.

MasterCard have decided that they will not allow winnings achieved from any type of gambling related sites to be credited back to their credit card accounts, and that means if you have made a deposit using one of their cards and wish to withdraw any winning you will have to use a different withdrawal option to withdraw your winnings.

Visa credit cards however have a slightly different set of rules associated with using them and you may find that you are indeed permitted to have winnings achieved from any type of gambling account reedited back into your credit card account.

It will however be best for you to double check with the casino or gambling sites that you are going to be playing and/or gambling at to see how they can pay you out your winnings and also just what withdrawal methods they have on offer to their customers as they will chance and vary from site to site!

What Fees and Charges will I Have to Pay?

You need to be aware that there will be plenty of fees and charges to be paid if you wish to use a credit card as a deposit option at any online casino site, and as such only use a credit card if you have no other options available to you!

The first charge you will be hit with by many credit card issuers is a cash advance fee, as those credit card issuers look at deposits into casino or any type of gambling site as a cash advance! Also be aware that more and more casinos now impose a small fee on all deposit you make using a credit card to help cover their processing fees and charges they have to pay too!

Interest will also have to be paid on any deposit you do make using any type of credit card, unless of course you pay off your credit card bill when the bill comes in, so always make sure any deposits you do make with a credit card can be paid off by you when those bills come in! Also you may have to pay additional fees when you make a withdrawal too, so keep that in mind when choosing a casino site at which to play at!

Conclusion

What many casino game players will do when they have no other option but to make a casino deposit using their credit cards is to make use of some of the many different types of casino bonus that they often qualify for at a range of different casino sites.

For by offsetting those fees and charges by claiming bonuses they can often get more bonus credits than the total amount of charges and fees they are obliged to pay, which is something that you may be interested in doing yourself!

Just keep in mind that there is now something of an art form in regards to selecting the very best and highest valued casino bonuses, and that is always going to entail you taking a good look through the terms and conditions attached to any bonus offer you are thinking of claiming.

Also, always double check that you are indeed going to be credited with any bonuses you do want to claim when using a credit card as you preferred online or mobile casinos site banking option, as sometimes some casinos will not award bonuses to players using a credit card to make their deposits!