Best Casinos Accepting Mastercard and Visa
Since the very early days of online gambling, players have been able to fund their online casino accounts using a credit card. However, over the years the companies who issue these types of cards, have put in place several different rules and ways in which credit cards can now be used in regards to gambling online.
This has resulted in it often being a bit of a minefield out there in regards to which credit cards can be used to fund an online gambling account, and which ones cannot be used to gamble online.
It usually boils down to each individual credit card issuer in regards to whether their customers can use their respective credit card to gamble online, so it is probably best you check with your card issuer to confirm you can indeed bet and gamble with your credit card online
Below we have put in place an in-depth article looking at how, when and where you can use a credit card as a means of funding any online gambling type account.
Have a good read through it as it will certainly enlighten you to what is allowed and what isn’t, and it will also let you know if there are any fees involved for using your credit card when funding an online gambling account.
What is Credit Card?
A credit card is simply a line of credit which your bank or an independent banking company has granted you. There are benefits of using a credit card, the main one being that if you pay off your entire balance owed, at the end of each month or billing cycle, then you are never charged any interest.
You can apply for a credit card at your bank or online, and typically they will take a couple of weeks to process your application, and if you have passed all of the credit checks then your card is often sent within a few days of your application being successful.
How to Use Credit Card
Using a credit card to fund any online casino account is a relatively straight forward procedure. All you need to do is to first log into the casino at which you intend to play, as a real money player (not the free play or guest mode), then click on the cashier or banking tab.
Once the cashiers or banking page interface loads, then you will have to click on credit card as your chosen deposit method. If you are using a credit card to fund your account, and you have not used this card before at that particular casino, then you will have to register the card onto the system.
Simply fill in the credit card number, along with the valid from and valid to dates in the boxes on screen, then fill out the address at which your credit card is registered too. Be aware that your billing address must match the address you registered your casino account as, if these addresses are different then this can cause problems!
Once you have registered the credit card, then simply select the amount of cash you wish to deposit, and then fill in, where requested on the screen, the three digit CVV number, which is found on the back of your credit card and click on the deposit button.
In a matter of minutes your deposit will be processed, if you have an available balance to cover it on your credit card once processed your casino balance will be instantly updated with the deposited amount.
Credit Card Fees
There are several different types of fees which may be levied on your credit card account when you use it as a means of depositing into an online casino or any online gambling site. You should therefore ensure you know just how much it is going to cost you when you use a credit card to deposit.
The first charge you may be hit with is a cash advance fee, many credit card issuers have decided then when you use their product as a means of funding any type of gambling then all such transactions are deemed to be a cash withdrawal and as such they will charge you a percentage of the amount of cash you deposit into any online gambling site.
You will often also have to pay a fee when you are depositing into any online casino at which you have a different base currency than the one your credit card is based in. So if you have a US Dollar credit card for example and are gambling in Euros, then you will have to pay a currency exchange fee, often on top of the cash advance fee mentioned above.
If you do not clear your balance each month on your credit card then you will of course be hit with interest charges. The rate of interest you will be charged varies greatly from credit card to credit card, so it is often best for you to shop around when choosing a credit card as there are often some very good deals to be had, including introductory interest free deals and offers.
Credit Card Minimum Casino Deposits
It will depending on which online casino at which you are playing at as to whether you can make a low minimum deposit into your casino account or be faced with making a larger one when using your credit card.
Each individual online casino will have their own minimum and maximum permitted deposit amounts and as such we would recommend you take a quick look at any of our showcased online casino reviews, which can be found in the site menu.
These reviews will show you just how much you can deposit when using a credit card and as such you will find the minimum deposit amounts listed upon each review.
Credit Card Casino Withdrawals
You need to be fully aware that when you have made a deposit into an online casino or online gambling site, and then have requested a withdrawal, then not all credit cards allow you to have those winnings credited back to them. Visa cards usually have no restrictions when it comes to getting winnings credited back to them.
However, when using Mastercards, then they do not allow any gambling sites winnings to be credited back to them, and as such you will have to have another withdrawal option in mind when withdrawing winnings from a MasterCard deposit.
Many online casinos will also request from you what is known as a fax back form, once you have requested a withdrawal after funding your casino account with a credit card. This is to verify that you are the legal owner of the credit card and to ensure no fraud has been committed by someone else using your card.
You may also be required to provide identification to the casino, this can often be done quickly and easily by sending them scanned copies of your identification documents.
These fax back forms and identification requests are usually just a one off procedure and once you have been fully verified you can then seamlessly and quickly withdraw all winnings made from a credit card deposit.