Going into credit on credit card?

vegansaver

Please can someone advise me.

I used my barclays credit card to make a bet online.

I won, but my winnings can only be withdrawn back to my credit card.

Am I allowed or will I be charged for going over £600 in credit on my Barclaycard one pulse oyster account?

I've tried their site but just got bogged down in information not applicable to me.

Oh and if this is possible how easy is it to transfer the money into my barclays bank account, will I be charged for this?

Many thanks in advance, I didn't realise I wouldn't be able to withdraw directly into my bank or I wouldn't have used my credit card in the first place.

bethanyrayne

vegansaver wrote: »

Please can someone advise me.

I used my barclays credit card to make a bet online.

I won, but my winnings can only be withdrawn back to my credit card.

Am I allowed or will I be charged for going over £600 in credit on my Barclaycard one pulse oyster account?

I've tried their site but just got bogged down in information not applicable to me.

Oh and if this is possible how easy is it to transfer the money into my barclays bank account, will I be charged for this?

Many thanks in advance, I didn't realise I wouldn't be able to withdraw directly into my bank or I wouldn't have used my credit card in the first place.

No you shouldn't be charged but they don't like it. Don't know how easy it is to get the money transferred without having to take it out as cash and pay a fee.

lisyloo

Be aware that money in credit is probably not insured (against fraud, theft etc.).
So get it out ASAP.

creditcardnewbie

what you could do is try ringing the bookmaker and ask them for a cheque withdrawal - bookies such as PaddyPower do this.

khalid

I had £15 credit in my Barclaycard OnePulse last month. Just phone them and ask for a credit balance refund and then give them your account details to transfer the money (doesn't have to be Barclays). It will take 2-3 days for the money to transfer. For peace of mind, you can ask them if there is any charge and I am 100% sure they will confirm that there isn't.


Also, Lisyloo is correct in stating that any credit you have on your credit card is not protected against fraud because it is your money and not Barclaycards. Therefore move it out at the earliest opportunity. Alternatively, you can spend the money you have in credit if you are planning to use your credit card for a purchase.


Hope this helps!


PS did you not get charged a cash withdrawal fee when using your credit card on an online gambling site? If so, make sure you pay the fee/interest and any residual on the following months bill (overpay your Barclaycard account).

DestroyingAngel_2

Never, ever use your CC for betting! It's treated as a cash advance, same as withdrawing money from an ATM or over the counter ... these transactions attract the highest interest on any CC plus a handling charge for each transaction!!

And remember, even though your account may be in credit, if you then go and withdraw that sum from an ATM or over the counter, you WILL be charged a handling fee and interest on a daily basis! This is because, for all intents and purposes, you have not made a claim for your money from the cc bank, you have not asked for a Credit Balance Refund...so how is the cc bank supposed to know what you're withdrawing is YOUR money and not the bank's?!! You'd just be treated as withdrawing the bank's money, and rightly so.

Ask for a Credit Balance Refund. Don't leave your acc in credit, unless of course you mean to spend against it immediately afterwards. The bank will not be held liable if you lose the card and someone uses the credit on it ... as it's your money, not the bank's.