vanquis card for gambling transactions

drewie

hello,

i'm just wondering if anyone here who has a vanquis card has tried it with online bookmakers/casinos. could you tell me if vanquis treat these deposits as regular purchases or as cash advances..

*awaits everyone waffling on about its high apr as though it's new news!!*

micheleen

Unless you need to gamble on credit (very bad idea) why not open a basic current account to fund it. I opened a Natwest step account purely to fund my 2nd Betfair account.

drewie

i don't need to gamble on credit. it's just that foreign bookies don't take debit card which i nornally use.

micheleen

Fair enough. I don't know about Vanquis but Egg certainly treat them as purchases.

lawford83

hi, i have a vanquis card and have used it for gambling on betfair and corals.both treat credits to them as cash and only allowed to deposit up to daily limit.payments back on to the card are on their in two working days and show as a credit on statement but not a payment. hope this helps..

drewie

thanks for the reply. so by "cash" do you mean cash advances. do you get charged a certain % in fees due to this?

YorkshireBoy

drewie wrote:

thanks for the reply. so by "cash" do you mean cash advances. do you get charged a certain % in fees due to this?

It's only 2.5%, with no complicated cap, and a very reasonable 39.9% APR* (variable) as well.

* From the date debited to your account until repaid in full.

http://www.vanquis.co.uk/home/Vanquis_visa_card/Vanquis_visa_card_summary.aspx

lawford83

on my card , i pay no fee for taking out cash and interest now at 30.66%. but did have to pay 19.00.also no charge if over limit, they have been very fair considering my past... customer service is very good but time payments take are too long.

drewie

doesn't sound too bad then. so it's supposed to be 2.5% but you haven't had to pay anything.. what was the £19 for?

also ive always wondered this with credit cards. when the winnings are paid back to the card, what do you then do - can you transfer it to your bank account? does this take long?

lawford83

their are different terms and conditions. i had to pay 19.oo annual fee and for this no cash charges and no overlimit charges. they have just changed to no fee so you will have to check on no cash charges now.

lawford83

no you cant transfer to bank account, take cash out on card or on purchases.