Using a credit card with Moneybookers and Bookmakers

[jaydeeuk1]

I'm sure I read somewhere that barclaycard doesn't treat it as a cashadvance - one of the only UK cards that doesn't.

[m0ns00n]

Hello,

Do you know if when i use a credit card with moneybookers or with bookmakers, i will have to pay cash advance fees?

It depends completely on the credit card. Most companies will treat it as a cash advance (I found this out a few months ago, after seeing the charges on my statement).

This means you will definitely pay interest on the amount as soon as it is withdrawn until you clear the balance in full. Even if you pay back the amount you withdrew, you will still get charged interest if you have an outstanding balance on the account. The CC company will treat any payments as being towards standard transactions, rather than the cash advance (sneaky, these credit card companies). If you pay off the balance in full at the end of the month, this would cost you somewhere between 1-3% of the amount withdrawn.

You may also get charged a one-off fee for each transaction to a bookie. In my case (with a capital one card), I was charged a £3 cash advance fee for a £10 transaction! I think it is something like 2% charge (but min of £3).

In summary - probably best not to use a credit card!