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Gambling with MBNA online

  • 08-11-2009 4:11pm
    #1
    Trampas
    Registered Users, Registered Users 2 Posts: 7,983 ✭✭✭


    If you use a MBNA credit card to gamble online be careful as MBNA are treating deposits as cash withdrawals.

    I have just been charged €5.50 for 2 deposits.

    Safely say I will be getting rid of my card shortly


Comments

  • #2
    sold
    Closed Accounts Posts: 285 ✭✭sold


    Trampas wrote: »
    If you use a MBNA credit card to gamble online be careful as MBNA are treating deposits as cash withdrawals.

    I have just been charged €5.50 for 2 deposits.

    Safely say I will be getting rid of my card shortly


    SAME HERE!!!, I only played lotto online. I signed up to the MBNA paperless statment online. So I never get letters from them anymore.

    They insist they sent me a letter to let me know about the change.

    I was furious to see the charge.

    MBNA say all Irish Credit cards are now charging this fee? Would love to switch to a new credit card.


  • #3
    Devastator
    Closed Accounts Posts: 4,480 ✭✭✭Devastator


    lads, you may not be aware, but if you withdraw cash on a credit card(or in this case deposite gambling money) you are charged interest on a daily rate. So from the day you withdraw you are being charged interest.


    Also(and probably more importantly) most credit card companies separate your account into categories(based on interest rates) and usually the lowest interest rate balance (0% offers) get paid off first and the highest interest rate category(cash) is the very last thing to get paid.

    So it doesn't matter if you withdraw money on a Monday and repaid it on the Tuesday, because if you have any other balance your repayment more than likely came off that.

    Credit card companies make LOTS of money this way. Check your t&c's for your own card


  • #4
    sold
    Closed Accounts Posts: 285 ✭✭sold


    Devastator wrote: »
    Check your t&c's for your own card


    Thats the whole problem,I never got MBNA's new terms and conditions. If they sent our the regular 20 page small print T&C's I probably would not have noticed anyway as the bury the changes.

    Anyway as far as I am concerned MBNA can go to h###. If this is how they treat their customers then their customers will return the favour!.


  • #5
    Devastator
    Closed Accounts Posts: 4,480 ✭✭✭Devastator


    They do not need to send you a full set of T&Cs due to a change. When you signed up you would have been sent the full set. They only need to make you aware of changes, so they could have sent an insert with your statement or something which you may have thought was promo mail.

    Get onto them and ask for a full set of T&C's, but I worked for 1 of the major UK bank in their credit card department and thats how work it. As far as Im aware all other CC companies do either exact same or very similar.


    Credit cards are bloody evil things anyway, I've only ever had 2 and got both paid off recently and are now closed. If the money ain't in my pocket(or bank account) then I can't afford it.


  • #6
    PIMPHO
    Registered Users, Registered Users 2 Posts: 470 ✭✭PIMPHO


    Devastator wrote: »
    lads, you may not be aware, but if you withdraw cash on a credit card(or in this case deposite gambling money) you are charged interest on a daily rate. So from the day you withdraw you are being charged interest.

    You sure about that? I make frequent deposits to gamble on my AIB Click Visa and have never been charged any interest on the deposit. Only get charged if I don't pay off my monthly balance.


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