Topping up Kalixa prepaid card from CC - cash advance?

funkyiguana

Anyone know if topping up a prepaid travel MasterCard (specifically, a Kalixa Pay) using a credit card (specifically, a Capital One card) counts as a cash advance?

Would assume so, but wanted to check. :beer:

DevilsBakBone

1000% do not do it!

It could even show as Quasi Cash, this falls into the same rate as gambling, which means even higher rates than a cash advance.

grumbler

DevilsBakBone wrote: »

...gambling, which means even higher rates than a cash advance.

Any example?

antonymp

Most credit card companies will charge a cash advance fee for topping up a prepay card, maybe call your card issuer or check the T&C's of your credit card to be sure.

Anthorn

There is a way to avoid the cash advance and that's to use MasterCard rePower. You buy a voucher from a participating retailer and then load it online at Kalixa. In that case the payment to the retailer is likely to be seen as a purchase. But beware the fee of £3.25 charged by the retailer.
https://www.mastercardrepower.com/

DevilsBakBone

grumbler wrote: »

Any example?

The below link provides an indication of Quasi Cash.

You may receive a higher advance fee ans well as higher interest rate, its dependent on the T&C's of the credit card.


http://www.mumsnet.com/Talk/legal_money_matters/a1574989-Quasi-Cash-in-relation-to-credit-card-can-anyone-explain-in-simple-terms

grumbler

It's a common knowledge that some non-cash transactions can be classed as cash advances.

I asked for an example confirming your statement that rate could be higher than for a normal cash advance.

DevilsBakBone

grumbler wrote: »

It's a common knowledge that some non-cash transactions can be classed as cash advances.

I asked for an example confirming your statement that rate could be higher than for a normal cash advance.

I have in depth knowledge in how Financial Services processing platforms work and how the parameters/setup allowing for this scenario.

What i don’t have is knowledge of every credit card in the market place, I’m not going to scour the internet for an example; but feel free to ignore my comments it you feel they cannot be substantiated.

reclusive46

Doesn't it depend on how the merchant actually codes the transaction, as opposed to the individual bank?

DevilsBakBone

It’s determined by the issuing bank no the merchant (Acquiring Bank), each type of transactions that is processed is assigned its own parameters when it hits the credit card account.

Some fields will be assigned a 'null' value, for example a normal sale will not receive a processing fee.

The merchant is charged a % or fixed amount by their terminal provider, this is how they pay for the ‘privilege’ of taking cardholder payments.

grumbler

DevilsBakBone wrote: »

... I’m not going to scour the internet for an example;...

I can assure you that such a CC doesn't exist in UK, that charges higher interest on gambling transactions than on cash advances.