What's in your wallet - Gambling Costs that's what

jimbow_2

Anybody heard this one before?
Purchased a Virgin pay as u go Mastercard cost £9.95.........you top it up and use it like a big boys credit card. When it's empty you top up again....etc etc.
Paid with a real Capital One Credit card and payment handled by www.360money.com (pre-pay card specialists).
Capital One sent me a statement with a cash withdrawal charge of £3 for the transaction of £9.95 with 360money.com.
I queried charge and was told that all transactions through 360money are treated as GAMBLING transactions and a cash withdrawal fee is applied.
How widespread is this I wonder and what can be done about it?

jonesMUFCforever

There is nothing you can do.
Why do you need a pre-pay card when you already have a Capital one card?

sinizterguy

ejones999 wrote: »

There is nothing you can do.
Why do you need a pre-pay card when you already have a Capital one card?

Because of the above mentioned cash advance fee for gambling transactions?

Pontoon

ejones999 wrote: »

There is nothing you can do.
Why do you need a pre-pay card when you already have a Capital one card?

It is a good way to avoid getting into debt, but still have the ability to pay for things online etc. There are still many places who will not take debit, but will take credit cards for some reason.
My friend topped up her credit card before she went on holiday as it made it much easier as her debit card would have charged her more for using it abroad than the credit card did. It also meant less or no debt to deal with after the holiday.

jonesMUFCforever

Hang on a mo - your friend firstly had to pay out £10 for a card - then any transactions would have cost the same as using any other credit/debit card ie the 2.75% fee included in the rate so I don't see where she saved money.

Milarky

'Debit card' anyone?

jimbow_2

Thanks for all the replies. I actually bought the Virgin Money Card for my Daughter......so she didn't start running up credit card debts. I top it up with her allowance monthly and she can only spend what's there. I didn't realise that Credit Card companies treat these cards as currency transactions and apply a cash advance fee. I just had a statement from Halifax Bank and they do the same as Capital one.

HeadInSand_2

Milarky wrote: »

'Debit card' anyone?

lol exactly what I was thinking!

HeadInSand_2

jimbow wrote: »

Thanks for all the replies. I actually bought the Virgin Money Card for my Daughter......so she didn't start running up credit card debts. I top it up with her allowance monthly and she can only spend what's there. I didn't realise that Credit Card companies treat these cards as currency transactions and apply a cash advance fee. I just had a statement from Halifax Bank and they do the same as Capital one.

Can you not load it straight from your bank account?

Gorgeous_George

If it worked the way the OP wanted, we'd all have these cards and would top 'em up with 4% cashback cards. Then, we'd transfer the cash back to our account.

Next year, we'd all be millionaires Rodders.



GG