Gambling sites and CC's

dannybhoy1989

if a deposit is made into an online gambling website such as ladbrokes, will a cashback credit card still pay out the cash back element? or do purchases have to be tangible goods?

Basically a form of milking the CC company is what im getting at

Deposit the whole amount into a online gambling account. then withdraw all the money into your debit card account. thus earning the cashback for the credit card and are able to repay the amount in full at the end of the month.

repeat over and over

Would this work?

Russe11

NO

nearly all credit cards treat any gambling as a cash transaction(cash advance fee)

most gaming companies require you to withdraw to card before "winnings"

plus a load of other hurdles


There are ways round these hurdles however, but the reward is not great enough to make it worth while.

smj43

You will get charged interest from day 1 plus a cash advance fee so it's not a good idea.

If I need cash from my credit card, I'll just find a friend/family member who is purchasing something with cash. They give me the cash and I'll pay on the card. It's the perfect way to get cash.

guesswho2000

Russe11 wrote: »

nearly all credit cards treat any gambling as a cash transaction(cash advance fee)

With the exception of Barclaycard I believe? Correct me if I'm wrong Although I don't think BC have a cashback card now they've killed Goldfish...