I do a lot of gambling on fights but It doesn’t cost me a lot as I start with £20 deposit then build it from the winning gambling balance. And every win I take £20 back so I actually make more until I have a huge loss and have to deposit £20 again.
Anyhow, I had to use my CC to deposit this time instead of my Debit card, I got charged a £3 “Cash Advance Fee” that is when you take money out of a credit card and not a purchase. So for example, an ATM machine, so I thought how well then I had an interest charge on my statement after I paid it. So I freaked out and phoned them up as I like to keep my credit rating squeaky clean.
Turns out, they charge interest on a cash advance fee everyday until you pay off the balance in full, but they don’t tell you and you only see it after you have paid the statement. I’ve never seen it written anywhere and I read all my CC docs, I’ve never seen that gambling / betting sites count as cash advance either. It’s no ****ing different from paying for shopping at Tesco or buying anything online.
Lucky for me it was at the end of my statement so I paid it before it wacked up charges, so keep an eye on what you pay for online. And if you see “cash advanced fee” on anything you have bought online then get it sorted ASAP. Even in the credit crunch they are still trying to rob you, typical ****ing banks