Using Credit Cards as Payment Option in an Online Casino
Credit cards are one of the earliest and widely used payment methods in most casinos online. Particularly, credit cards from MasterCard and Visa are the most popular, including in countries like the UK, Australia, and a whole lot more. They have been used for various transactions before, and with the arrival of online payment systems, these two cards were the pioneers. When casinos were introduced online way back in 1996, Visa and MasterCard were the only payment options available. They were so prevalent that you almost can’t find a UK or Australian online casino that doesn’t offer such card payment options.
Using Credit Card Payment Method
To use a credit card, either Visa or MasterCard, as your casino payment option, you have to register it to your online casino’s banking section first. Once you do, simply select the 'Deposit' option along with your particular card. You will need to input several details, such as your credit card number and your name as it appears on the card. To make a deposit to your casino account, simply choose your credit card, input the desired amount, enter your CVC number, and click 'Enter' to successfully complete the transaction.
Most online casinos also make it possible to withdraw your winnings to your credit card. However, you should confirm it first from your casino site’s customer support before you even register your card. You must use the same card you made deposit with for withdrawing your funds. But before you can even make a withdrawal, there are some rules and regulations you have to follow for security purposes. Basically, you will need to send documents proving your identity and address. To proceed with the withdrawal, visit the 'Withdrawal' option of the site’s banking section. Afterwards, simply select your credit card and input your desired amount.
Pros of Using Credit Card Payment Options
- MasterCard and Visa have excellent reputation and are highly reputable. This only means you can have a safe and secure transaction anytime, anywhere.
- They are widely accepted by most online casinos, especially in UK and Australia.
- There are many casinos that don’t charge transaction fees each time you make a deposit or withdrawal. However, it’s best to confirm this first with your online casino.
- Instant deposits, meaning you can start placing bets immediately.
- Using a credit card payment method will award you with loyalty points both at the casino and with your credit card company, which you can use to redeem rewards.
Cons of Credit Card Options
- There are some casinos that don’t allow withdrawals via credit cards. Instead, they will send your winnings via check or bank transfer, which might take a few days or even weeks to arrive.
- It may take a while for the withdrawal to appear in your credit card account due to long processing times.
- Since using a credit card for playing in online casinos means that you are borrowing funds, you might be easily tempted to wager more than you can afford. Once you start losing lots of money, you might end up with debts on your credit card account once the bill reaches its due date.
- There are banks that consider deposits made by your credit card as cash advances. In such events, your deposit will instead be classified as cash withdrawal and will come with extra bank charges.
A Few Helpful Tips in Using Credit Cards as Payment Option
If you’re going to register either a Visa or MasterCard credit card to an online casino you’re playing, make sure it is your own. It is because the online casino will check if your name on their database matches with that of the credit card owner. In case it doesn’t, the card will be totally rejected. There are also some limitations when it comes to deposit and withdrawal, and the limits imposed could differ from one casino to another. For example, an online casino will come with a minimum of $100 for either deposit and withdrawal, and $10,000 for the maximum limit.
There are some players who are uncomfortable using their credit cards for wagering. If you’re one of those people, you can choose to use debit cards offered by MasterCard or Visa instead. They are quite common in Australia as well as the UK. The problem, however, is that some select online casinos don't accept debit card payment options. Also, some casinos won't allow withdrawals to debit cards. Hence you should balance your concerns and make the most appropriate choice.