Credit Card Gambling Fees

[Property Hoarde]

I purchased a Lotto ticket on line as I do from time to time.

Look at my credit card statement today and I have been charged Cash Advance Fees and then interest on it as being a Cash Advance.

Rang the CBA and they say it is government policy to charge this for Gambling activities paid by credit card (from about November) but I can not find anything on it.

Does anyone know about this or is this just another way for the Bank to get money out of you?

It not a lot of money but I do not like the fact that I am being charged because I like to purchase a ticket from time to time and I prefer to purchase it on line.

 

[Sunfish]

As far as I can recall, paying bills online with CCs has always been considered a cash advance, ergo I use bPay or direct debit.

I can pay rates, rego, ins by CC but ONLY by going through the other party's website and selecting "Pay by credit card" which means THEY absorb costs according to their agreements with the card cos.

 

[Property Hoarde]

I pay all that via BPAY on netbank, and it is just treated as a normal purchase and I get my up to 55 interest free.

I checked with old tickets and they were treated just as a normal purchase, just now it has changed and CBA is saying it is the Governments fault (I just can not find evidence of it)

 

[Sunfish]

I've just thought about this. Clearly you were paying via the provider's web site so what I said, while factual, was irrelevant to your case. Sorry.

 

[Property Meister]

im in the same boat as you!

Ive only done 1 cash advance on my credit by accident in 13 years,

this time I did purchase lotto tickets as per normal, then

I got charged about 3 cash advance fees, Plus interest fees, while I was overseas, and I Was thinking someone was using my card without knowledge

got back and got told that Lottery tickets are now considered Gambling so are now considered cash advances,

apparently we were sent something in november, I usually throw out those booklets anyway.

Not entirely happy, won't be using CBA cards for any of these purchases anymore

 

[JamesGG]

My NAB card is treated the same way; but then for $20 once in a blue moon I'm usually not too worried.

 

[Roosterman]

I use my NAB visa on my online TAB account and it is always treated as a purchase, not a cash advance.

 

[BMan]

how do the 55 interest free days work?
say you put a heap of stuff on then you get the statement at the end of the month if you pay by the due date its fine?
what happens if you purchase more stuff between the start of the next month but before the due date?

 

[Aaron_C]

how do the 55 interest free days work?
say you put a heap of stuff on then you get the statement at the end of the month if you pay by the due date its fine?
what happens if you purchase more stuff between the start of the next month but before the due date?

It is 55 days interest free from the beginning of the new statement date. Anything bought between that date and the end of the statement date has less than 55 days interest-free - as long as the entire balance is paid off in full.

 

[Property Hoarde]

My NAB card is treated the same way; but then for $20 once in a blue moon I'm usually not too worried.

The $20 once in a blue moon is not my issue but the interest accrued every day after the purchase is.

I pay the balance off each month but if I had not noticed the fee for the cash advance there is a chance there could be an amount on the card accruing interest for a long time to come and adding up.

All just because I purchased a lotto ticket.

 

[Property Hoarde]

I use my NAB visa on my online TAB account and it is always treated as a purchase, not a cash advance.

I would be checking that. It appears to be a new thing and according to the CBA anyway the Goverment says that because it is gambling (and all gambling is bad, ok) the purchase is a cash advance and therefore should be paying interest on it.

 

[Pa1nter]

A couple of years ago I also set up a weekly lotto onlne using my credit card,
As soon as I saw it was a cash advance I stopped it,
I normally do not gamble at all so I was very upset to see interest.
I haven't bought a lotto since.

 

[Rolf Latham]

as long as the entire balance is paid off in full.

but if u leave 10 c owing one pays 22 % plus on the things on the entire amount : (

I always found it funny when u had a 10 bill on ur card , but forgot to pay it, and used to get slugged with a 35 missed repayment charge

someone wanna do the comound interest on that : )

ta
rolf

 

[Property Hoarde]

how do the 55 interest free days work?
say you put a heap of stuff on then you get the statement at the end of the month if you pay by the due date its fine?
what happens if you purchase more stuff between the start of the next month but before the due date?

The purchases that are purchased beteween the start of the next month but before the due date, will be on the next statement.

If it is classified as a purchase and you pay the balance due before the due date you do not get charged interest.

But if you take money directly out or the purchase is classifed as a cash advance you start paying interest from the date the cash advance was taken. No up to 55 Interest free.

 

[Doovalacky]

It actually warns you on the WA lotto site that some banks treat it as a cash advance.
I've found my BOQ Visa debit is fine but usually Bpay.

 

[BMan]

It is 55 days interest free from the beginning of the new statement date. Anything bought between that date and the end of the statement date has less than 55 days interest-free - as long as the entire balance is paid off in full.

yeah so what happens if

the statement is from the 5th dec to the 4th jan and due date the 30th jan
the balance was 0 at the start of the statement month
i owe $500
in between the 4th of jan and the due date of the 30th i put another $300 on there
i then pay off the $500 from the statement month on the 28th
i still have $300 owing
does this mean the next lot is not interest free for 55 days as it hasnt been paid off in full so i really need to pay the $800?

or if i paid the $800 off but then a direct debt come out on the 29th, what would happen?

 

[Aaron_C]

It means that all money spent from 5th December to 4th January is interest free IF you pay the outstanding balance ($500) by 30th January. The $300 will be payable the following month, also interest free if paid off in full on 29th February.

 

[BMan]

ah ok as i got charged interest when i done that so i pay a soon as i get my statement now,
when i rang the credit card company to ask what was going on they got confused and didnt know in the end they refunded it but i still didnt know how it actually worked
sounds so simple i wonder why they couldnt just tell me that

 

[mattnz]

It will be Mastercard policy, not government policy.

 

[Intrinsic_Value]

I purchased a Lotto ticket on line as I do from time to time.

Look at my credit card statement today and I have been charged Cash Advance Fees and then interest on it as being a Cash Advance.

Rang the CBA and they say it is government policy to charge this for Gambling activities paid by credit card (from about November) but I can not find anything on it.

Does anyone know about this or is this just another way for the Bank to get money out of you?

It not a lot of money but I do not like the fact that I am being charged because I like to purchase a ticket from time to time and I prefer to purchase it on line.

was this purchased online, if so was it done through www.ozlotteries.com