A credit card deposit question

JamesDarwin

Dormant account
This is probably a stupid question but im a newbie to the gambling world and to the credit card world.

If I deposit 500 to a casino does it count as a cash advance or as a purchase.

The reason I want to know is that ive got a 3 month interest free period on purchases but not cash advances.

Thanks alot
 

angahar

Dormant account
My urgent advice to you would be to not gamble on credit, interest free or otherwise. If you purchase with a credit card, make sure it is money that you have to lose and plan to pay that CC bill when it comes. If you are not going to have the 500 until three months from now, then gamble three months from now.
 

JamesDarwin

Dormant account
Yea I have some money in savings and I need to get a job soon so the bill wouldnt be a problem its just I dont have the money now but I will in 3 months.

I just need to know for certain if it would count as a purchase.

I mean im having doubts as to if it would cause taking cash out a machine doesnt count as a purchase and with the casino couldnt I theoretically use to to launder my money to another bank account then take cash out?

IE getting cash in hand from my credit card whilst bypassing there interest fee?

Of course I dont want to do this, but also I want to make the most of the interest free period and cant afford to pay interest on 500 borrowing for casino assumming I lose it all
 

GrandMaster

Ueber Meister
CAG
JamesDarwin said:
This is probably a stupid question but im a newbie to the gambling world and to the credit card world.

If I deposit 500 to a casino does it count as a cash advance or as a purchase.

The reason I want to know is that ive got a 3 month interest free period on purchases but not cash advances.

Thanks alot
It depends. Marbles considers gambling transactions as cash advances. All my other cards treat them as purchases.
 

JamesDarwin

Dormant account
its an egg card www.egg.com all I can find is the definition of cash advance.

Cash Advance means obtaining cash, foreign currency or travellers' cheques using a Card or the Card number.

I wont be obtaining cash, ill be obtaining chips the only cash to come from anywhere will be unlikely winnings from the credit card account.


Also another stupid question, can credit card balances go positive? I presume yes but I dont know for sure lol
 
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hhcfreebie

Dormant account
JamesDarwin said:
Yea I have some money in savings and I need to get a job soon so the bill wouldnt be a problem its just I dont have the money now but I will in 3 months.

I just need to know for certain if it would count as a purchase.

I mean im having doubts as to if it would cause taking cash out a machine doesnt count as a purchase and with the casino couldnt I theoretically use to to launder my money to another bank account then take cash out?

IE getting cash in hand from my credit card whilst bypassing there interest fee?

Of course I dont want to do this, but also I want to make the most of the interest free period and cant afford to pay interest on 500 borrowing for casino assumming I lose it all
Unless you have a sound plan to make money out of bonus/promotion, otherwise It's really, really, really a bad idea to gamble on credits.
I don't know how to "make the most" of the interest free period, I do know borrowing money is usually a bad idea. If you already have debts, maybe you can transfer the balance to your credit card to save interest. Otherwise, I'd say the "no interest" period is only there to lure you deeper into a finicial nightmare.
Don't gamble with the money you don't have, please.
ps: yes, you can have positive credits. Normally if you don't use up the credits in 2 months they'd send you a check.
 

angahar

Dormant account
I don't mean to repeat myself but if you don't have money now but you will have money in three months, then GAMBLE IN THREE MONTHS when you have the money. It is a very slippery slope to gamble on credit, especially when you don't have a job.
 

jpm

Dormant account
Don't play with money you aren't prepared to lose right now. There's no guarantee you'll have a job in 3 months. ANYTHING can happen! Don't gamble on credit.

But to answer your questions, most visa & mastercard agreements (and amex & discover too I think) will tell you that purchasing chips for casino gambling is considered a cash advance and not a purchase. If you really want to be certain, call the customer service number on the back of the card and ask them directly.

Wait till you get the job and have some extra money. The games aren't going anywhere, and there will be at least as many casinos out there then as there are now.
 

hhcfreebie

Dormant account
Okay, I saw your scheme on the other thread:
http://www.casinomeister.com/forums/showthread.php?t=4504
Guess what? If you keep betting 1k on red/black, you do have an edge over casinos! :D
Yeah, although 90+% you will loose everything but when you do survive the 32000WR you will be a really rich young man.
Of course if I were you, I'd rather bet $10 per hand on BJ or video pokers. The problem is you need to stick to basic strategy and keep doing the same thing for hours. Boring isn't it?
Go ahead and try play for fun mode first. Heck, if you go bust maybe your parents would cover it for you. :lolup:
 

JamesDarwin

Dormant account
hhcfreebie said:
Okay, I saw your scheme on the other thread:
http://www.casinomeister.com/forums/showthread.php?t=4504
Guess what? If you keep betting 1k on red/black, you do have an edge over casinos! :D
Yeah, although 90+% you will loose everything but when you do survive the 32000WR you will be a really rich young man.
Of course if I were you, I'd rather bet $10 per hand on BJ or video pokers. The problem is you need to stick to basic strategy and keep doing the same thing for hours. Boring isn't it?
Go ahead and try play for fun mode first. Heck, if you go bust maybe your parents would cover it for you. :lolup:
I was planning on betting 1K on red/black once then using the 1K extra in order to attempt to work of the wager requirement. (Blackjack seems the logical choice)

But if online casino buys count as cash advances then im not going to do it. Im presuming I am going to lose. And I cant afford no interest dont like giving money away to a credit card company would never do that unless I had to.

It just sounded like an offer I had to take, its risking 500 on near 50/50 chance for 2000 presuming u can work of the wager requirement.

But if your all being so negative about it im just not going to bother + I dont want a cash advance so I will just have to wait and see what the credit card company class a gambling purchase as.

Thanks for your replys
 

jpm

Dormant account
Its actually less than 50/50 odds because of the green section(s), and frankly a stupid plan. I think you'll find that pretty much every casino disallows roulette play when you get a bonus, so be sure you've read all of the fine print before you play with any bonus.

I think we're now seeing the impact and effect from that fool who sold everything and bet it all on one spin of the wheel for a TV show in the UK. HE GOT LUCKY, REAL LUCKY. And as I recall, they were going to pay him a hefty sum for his 'risk' even if he lost it all.
 
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