What is a Credit Card?
Credit card is one of the most common payment methods used around the world for transactions on and offline. It was one of the very first payment methods used online and at online Casinos as it is a fairly secure method that consumers are comfortable with using. When you’re deciding what kind of deposit and withdrawal system to use at your favourite online and mobile casinos, we always advise doing as much research as possible – and credit cards are as good a place to start as any. If you feel comfortable with the mechanics of how to use a payment system, as well as its security features, you’ll be able to enjoy your games that much more. You’ll also be able to focus on developing and refining your strategy, so that you can win bigger payouts more often. As several other payment methods have cropped up over the years, credit cards are becoming used less and less and consumers are opting for a variety of other secure payment options. However credit cards still continue to be a frequently used method for making payments at online Casinos.
How does it Work?
Credit card payments at online Casinos have changed over the years which has affected the extent to which people use them. In the early days of online Casinos, banks treated Casino deposits as if they were any other purchase of goods. However, after a short while, banks began to view the purchase of virtual Casino chips as a cash advance and for this they increased the interest rate. This meant additional fees to online Casino customers choosing to deposit money via credit card, and thus many other payment methods began cropping up that were considerably cheaper, or even free of charge. The credit card is still a popular method for making deposits into online Casino accounts as it is a quick and easy process that customers are familiar with, as well as being securely encrypted to protect users from fraud. Almost every single online Casino will accept deposits made using credit cards – both Visa and Mastercard – so long as you are within your credit limit. Players will simply be required to enter their card details and confirm the transaction. There are a few banks that restrict the amount of money that can be deposited into and withdrawn from online Casinos, so players should always check with their credit card provider before hand to avoid disappointment.
What are the Advantages?
- It’s a straightforward method that players are familiar with.
- Credit cards tend to be insured against theft and online Casinos have secure encryption technology to protect customers’ information.
- You don’t have to sign up to any additional payment services.
- You can make both deposits and withdrawals this way if the casino allows.
- Transactions can be viewed easily on your credit card bill (and will usually be written discreetly.)
- Credit cards are very widely accepted at mobile and online casinos.
- Transaction fees are very low.
- Many casinos benefit more when you use credit cards over other systems, so they offer exclusive bonuses to you when you do just that.
What are the Disadvantages?
- Since you are sharing your details online, there is a higher risk of fraud and identity theft with this transaction system.
- If you have a considerable potential line of credit, managing your spending at online casinos can be more difficult with a credit card than with a debit card, a web-wallet or a voucher system.