Are there any credit cards that allow buying crypto?

doveman

I used my Royal Bank of Scotland Mastercard to buy some crypto back in May but when I tried to buy some more recently, the transaction wouldn't go through, even after I verified it in the app. So I phoned them, thinking that they'd probably just flagged it up to protect me in case I'd been scammed and they'd lift the block after I spoke to them but they said they don't allow buying crypto with their credit cards at all. I always pay the card off in full when I get paid, so I'm not getting into debt, it's just more convenient for me.

Most of the exchanges allow you to buy with credit cards but before I apply for another one I was wondering if anyone knows of any particular cards that definitely allow this? I'm planning to apply for one of the three top 0% purchase cards, as I want to get some dental work done, so if any of those would allow me to also buy some crypto that would be ideal. I think they're all Mastercard (Sainsbury's, Lloyds, M&S) but I'm not aware that Mastercard has a no-crypto policy itself, I think it's down to the individual banks/providers.

dr_adidas01

doveman said:

I used my Royal Bank of Scotland Mastercard to buy some crypto back in May but when I tried to buy some more recently, the transaction wouldn't go through, even after I verified it in the app. So I phoned them, thinking that they'd probably just flagged it up to protect me in case I'd been scammed and they'd lift the block after I spoke to them but they said they don't allow buying crypto with their credit cards at all. I always pay the card off in full when I get paid, so I'm not getting into debt, it's just more convenient for me.

Most of the exchanges allow you to buy with credit cards but before I apply for another one I was wondering if anyone knows of any particular cards that definitely allow this? I'm planning to apply for one of the three top 0% purchase cards, as I want to get some dental work done, so if any of those would allow me to also buy some crypto that would be ideal. I think they're all Mastercard (Sainsbury's, Lloyds, M&S) but I'm not aware that Mastercard has a no-crypto policy itself, I think it's down to the individual banks/providers.

A lot of credit card company's these days won't let you use their credit cards or debit cards to buy crypto currency.

Barclaycard don't let you.

RBS/ Natwest won't let you as you've fount out.

HSBC group which includes John Lewis and M&S have a policy of not allowing to buy crypto or bitcoin with any of their cards.

Lloyds Bank / Halifax and Bank Of Scotland wont allow crypto with credit cards or debit cards.

Tesco Bank won't allow it either.

Sainsburys I can't find any information for crypto.

You could have found this information like I did by doing a google search.

I guess you're now stuck as it seems most credit card company's in the UK wont allow the type of crypto purchases you want to make.

doveman

Royal Bank of Scotland told me they allow it with their debit cards, just not their credit cards, but I don't have a current account with them so I can't confirm.

Nationwide allowed it with a debit card but I had to call them twice to get two Visa blocks removed (apparently there's a level 1 and a level 2 block) and then a third time to get their own internal block lifted, which involved speaking to a special department so they could check that I understood what I was doing and I wasn't being scammed by being told by someone to pay them money.

As you've said that the M&S and Lloyds cards won't allow it, I might try the Sainsbury's card and see if I have any luck with that. 

jay1804

If you buy crypto, on credit cards, aren't you charged cash advance fees? 

colink24

I deposited to eToro a few months back to buy Crypto and that went through fine. This was using a 118118 card (sub-prime). There were no fees on their side charged to me.

pphillips

jay1804 said:

If you buy crypto, on credit cards, aren't you charged cash advance fees? 

I'd have thought so, it's a bit like topping up a savings account with a credit card.

Ebe_Scrooge

If it's any help (I realise I'm repeating some of what's already been said), I got a notification on my credit card app a couple of days ago:

"...the [cryptocurrency] market is largely unregulated and more people are falling victim to scams involving cryptocurrency.  We've made the decision to protect our customers from these scams by blocking credit card payments to companies involved in crypto purchases or trading activities"

Brie

From many banks point of view (& possibly the regulator) it's no different than using a credit card for gambling.  They may well do the same for purchasing shares. 

born_again

I know not helping op but. Unless the police (which will have to be a concerted worldwide effort) can trace it. They have lost that money.


https://www.bbc.co.uk/news/business-58163917

Malkytheheed

Buying crypto on credit is bananas. 

Alex9384

If you can get a money transfer credit card, you can transfer money to Revolut and from Revolut to crypto exchange (or buy crypto directly in the Revolut app, though their fees are high and you don't actually own the crypto).