Pros and Cons of Using a Credit Card at an Online Casino

If you are checking out several of our casino deposit related articles and guides then you will probably have already discovered that as an online or mobile casino game player you do have a large range of different options that are available to you in regards to you transferring money into your casino accounts.

You may be thinking of using your credit card as the way you transfer funds instantly into your casino account online and if that is the case then the following guide will be of interest to you.

Below we will highlight both the pros and cons of using a credit card to fund your casino accounts, and as such by reading it through you will be in a much more informed position to know whether that is something that is going to be the best option for you.

Cash Advance Fee – One fee many credit card issuers will hit their customers with when those customers have chosen to use a credit card to fund not only an online casino site account but any type of gambling account with their credit card is a cash advance fee.

This fee will work out to be a small percentage of the amount you have deposited into your casino account as credit card issuers look at those types of deposits as cash and not a standard type of credit card retail purchase, so be aware that you will often have to pay those cash advance fees when funding your gambling site accounts with a credit card.

Interest Charges – You will of course be hit with interest charges if you choose to use your credit card as your preferred casino banking option and you do not pay off your credit card account balance when your bill is sent out to you.

Some people tend to go a little bit mad when using a credit card to deposit and can spend way more than they intended to do. With that in mind and to avoid high interest fees and getting yourself into debt always play responsibly when using a credit card to deposit and set yourself limits and stick to them.

Deposit Limits – When you do use some banking method at casinos you are not going to have any type of deposit limits imposed on you. However, when you use a credit card to fund your casino accounts online you will often find there will be either a daily, weekly or maximum amount you can use credit cards to fund your accounts with.

The credit card deposit limits which many casinos have will vary from casino to casino and you will only be given the option of increasing those limits once you have become a known, loyal and regular playing at those casino sites.

Withdrawals – You will find that if you have a Visa credit card then there are usually going to be plenty of casino sites that are going to be able to send your winnings back to you Visa card account.

However, if you have chosen to use a MasterCard as the way to fund your casino account online and you then have a winning session and wish to get paid your winnings and have it sent back to your MasterCard that is something no casino sites are going to be able to do.

It is the rules and terms and conditions attached to using a MasterCard that do not allow gambling winnings to be sent back to those cards and as such if you do have a winning session when you have been playing in a casino at which you used a MasterCard credit card to make that deposit then you will need to find another withdrawal option to use.

Fax Back Forms – Many casinos have some very strict rules when it comes to allowing their customers to use a credit card to fund their casino accounts, and what you will often find when you have used such a card to fund your casino account is that the casino you are playing back will send your something known as a fax back form.

This is a form which you will need to fill out and it will require you to enter your credit card details on the form along with signing a statement which says you have chosen to use that card to gamble at their site and you will not be disputing any of the charges made with your credit card.

If you do not send this form back on time then any withdrawals you have made will not be sent back to you until you do send it back! So when a casino sends you such a form by email or asks you to download if from their website make sure you complete it and send it back to them quickly. You will be able to fax it to them or send it via email by the way.

Additional Casino Fees – Be aware that unlike some other casino deposit options many casinos have now started to charge their customers a small fee whenever they use a credit card to fund their casino accounts.

The fee is often a small percentage of the total amount you deposit, and the reason they have started charging a fee is that the credit card processors they use to process payment charge them a large fee which they will pass onto you.

However, not all casinos charge this fee and if you do intend to use your credit card to make a deposit into your casino account then make sure you choose a casino site that never charges you any additional fee for those fees can mount up and will reduce the value of every single deposit you make.

In fact also be aware that you could get hit with a fee when making a withdrawal back to you credit card, so once again if your chosen casino is implementing credit card fees stop playing there and find a casino sites that won’t force all manner of additional fees onto you.

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