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Confused about charges for gaming transactions
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sturgeon
Posts: 396 Forumite


in Credit cards
It appears I'll be charged 2.99% fee for any online gambling transaction (I want to place a £10 bet) should I use my barclaycard. I'm trying to use my debit card but it's not working for some reason.
It also says the transaction will be charged as a cash transaction, interest would be payable. However, I've no idea what this really means and what the charge would be. I think it means I don't get the usual period to pay it with, however does this affect my entire monthly credit card balance? What kind of charges/fees would I incur for a £10 transaction?
It also says the transaction will be charged as a cash transaction, interest would be payable. However, I've no idea what this really means and what the charge would be. I think it means I don't get the usual period to pay it with, however does this affect my entire monthly credit card balance? What kind of charges/fees would I incur for a £10 transaction?
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Comments
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The fee is £2.99 because your card has a £2.99 minimum.
The interest will accrue at (approx.) £12.99 x yearly cash interest rate % / 365 per day until cleared.
So if your cash interest rate is their normal 27.9% APR that's around a penny a day!0 -
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Actually it may not be quite as much as that as the OP says the fee is 2.99%, so a £10 bet would result in a £10.30 charge (although it may be that the OP was mistaken and it is in fact a £2.99 fee).
OP, if you monitor you credit card transactions online and make a payment as soon as the gambling transaction hits your account you can minimise the amount of interest paid.0 -
Actually it may not be quite as much as that as the OP says the fee is 2.99%, so a £10 bet would result in a £10.30 charge (although it may be that the OP was mistaken and it is in fact a £2.99 fee).Barclaycard_Summary_Boxes wrote:Cash fee: 2.99%, minimum £2.99 on sterling transactions onlyagrinnall wrote:OP, if you monitor you credit card transactions online and make a payment as soon as the gambling transaction hits your account you can minimise the amount of interest paid.0
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