Credit Card Cash Advance APR!!

kingwheels1

I wonder if anyone has any experience with this one. I recently looked into the last few years of my Credit card interest and it seems that the bulk of this has been made up of Cash Withdrawals and i have been paying APR of 29.9% for almost 3 years.
The problem is, i have never made a cash withdrawal with my card and have only used it on the High St and to purchase items online.

I have used the card on a couple of online casinos and i can only think that this may be the reason but i cant understand how this would classify as Cash withdrawal.

Any one got any ideas?

Its a Halifax Visa and i could quite literally have paid thousands in interest!

folkestonelisa

Its the casinos.
they are charged as a cash transaction:mad:

Any

How are you struggling to understand how it would be classed as cash transaction? Can you walk into a casino and pay by credit card?

It's definitely that. You need to pay the whole card of and then residuale interest for two more months before you clean that one up..

kingwheels1

You say its charged as a cash advance but on other casino sites this isnt the case. As far as i am concerned its an online purchase, no cash has changed hands only credit so its not like i am walking into a casino is it? And i think you can walk into a casino and pay by credit card these days!

I'm purchasing an online service, how does that constitute as a Cash withdrawal?

_Andy_

Have you rung Halifax to clarify what the situation is?

LeeSouthEast

Casinos are typically dealt with as cash advances.

kingwheels1

I am waiting on a reply to a letter i sent this week. so i will report back with an answer, i just wanted to see if anyne else had seen something similar.

dzug1

kingwheels1 wrote: »

. As far as i am concerned its an online purchase,

Well maybe, but it isn't your concern - it's Visa/Mastercard's and maybe the casino's.

I suspect the reason is that the casino get charged less on the transaction if it's a cash advance than if it's a purchase.

There's also a side issue that gambling debts are not (or were not at one time anyway - I have a feeling things may have changed) enforceable through the courts - so the card company doesn't want to lend you money this way, whereas if it's a cash advance it's at arms length

kingwheels1

I'm pretty sure if i had aproached the Halifax and asked for £500 of credit so that i could gamble it would have been met with a swift "No thanks"! lol

So what do you think my chances are of getting this APR reduced to reflect a standard purchase rate?

At best i'd like a refund on these over the top rates at worst i'd like them reduced.

Any

If you have won, would you be happy if they "just" showed you piece of paper with the statement and showed you no actual cash? I doubt it.

I don't think you stand a chance on this one. It will probablly even be somewhere in the T&C. Do you still have them?

_Andy_

kingwheels1 wrote: »

I'm pretty sure if i had aproached the Halifax and asked for £500 of credit so that i could gamble it would have been met with a swift "No thanks"! lol

So what do you think my chances are of getting this APR reduced to reflect a standard purchase rate?

At best i'd like a refund on these over the top rates at worst i'd like them reduced.

None at all