Credit cards have now been issued by banks and other outlets for over half a century, with holders using them to process payments both in stores and online. As a result, it perhaps comes as little surprise that the iGaming industry was quick to get in on the act too, with almost all casino sites available to players in the UK now offering credit cards as an accepted method of payment. Whether you already hold a credit card or are considering applying for one, this page will outline all of the key points surrounding the use of credit cards on casino sites, including their pros and cons. However, let’s start by listing some of the best casino sites catering for players wishing to bank using credit cards.
Best UK Credit Card Casino Sites
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What is a Credit Card?
While many of you may know the ins and outs of credit cards, it is still worth familiarising yourself with exactly how they work, along with the history of the payment method. Let’s take a closer look:
- The first credit card was issued in the 1950’s in the United States by Diners Club.
- Magnetic strips and EMV chips have been introduced since, offering another layer of security.
- Mastercard was founded in 1979, while the popular Discover Card was launched nine years later.
- The first credit card in the UK was developed by Barclaycard in 1966.
- Distributers will carry out a credit check before issuing cards, taking into account financial information in the process.
Credit Cards in the UK
Credit cards are available from a variety of outlets in the UK today, however important information surrounding their use on gambling sites has recently come to light. Starting on the 14th April 2020, credit cards will be banned on any form of gambling site, including casinos. The news comes after reviews were carried out by both the British Government and UK Gambling Commission, which discovered worrying trends surrounding iresponsible gamling and the use of credit cards. As a result, those currently using or considering using a credit card on a casino site will soon have to come up with an alternative.
Pros and Cons of Using Credit Cards as a Payment Method
After testing credit cards for both depositing and withdrawing funds on a variety of casino sites, the following benefits and limitations were found:
- Speed – One of the major selling points when it comes to using credit cards on casino sites is the speed of payments, with deposits in this way being instant, while withdrawals are also speedy, especially in comparison to alternative options. The speed of transactions is due to the fact the verification process is limited.
- Security – With credit cards being strongly linked with major banks in the UK, players can often rest assured that all activity is carried out securely, while any unexpected payments or fraudulent activity is quickly dealt with.
- Bonuses – Unlike with many e-wallet platforms, deposits made using a credit card will often mean that players qualify for a potentially lucrative welcome bonus.
Ease of Use – Many players are likely to have used a credit card on other online platforms, meaning that they are already familiar with the way in which they work.
- Fees – Some credit card providers will often charge fees for processing payments, especially when it comes to withdrawals. As a result, players will have to take away a certain percentage of their winnings.
- Limits – There are also likely to be limits when it comes to making deposits and withdrawals using credit cards, which could be a problem, especially for high rollers.
New Credit Card Casino Sites
Credit cards are unlikely to be something new when it comes to casino sites, however the new laws that are coming to the UK mean that such platforms may have to make changes to the way in which players transfer funds.
How Do Credit Cards Work?
In simple terms, credit cards offer holders a certain amount of money on credit, which can then be used to process payments in stores and online, including on casino sites. However, users must pay the minimum payment amount each and every month, with this figure depending on the amount in which has been spent. Those who fail to do so are likely to incur penalties along the way.
Credit Card Account Registration
In order to use a credit card on a casino site, the following steps must be taken by players:
- Carry out research in terms of the type of credit card that will best suit your needs.
- Visit your local bank or outlet or apply online.
- Complete all of the relevant information, including your personal details.
- The bank will carry out a credit check, taking into account your past financial activity.
- If you are accepted, credit cards will be distributed quickly, ready for use.
Credit Card Fees
While the majority of casino sites will not charge any fees when it comes to processing payments using credit cards, unfortunately, this does not mean that there are no charges to worry about. Providers themselves may charge anywhere between 0.1-3% in most cases, with the exact figure being outlined before payments are processed.
Credit Card Alternatives
With credit cards soon to be banned on casino sites in the UK, an alternative must be found by players. With that being said, the following are just a sample of the other payment methods available to casino players in the UK today:
Skrill – Skrill facilitates online payments on an international basis, with the Paysafe Group-owned company also being regulated by the Financial Conduct Authority in the UK. Skrill supports over 40 different currencies, while users can also purchase pre-paid cards, which are linked to individual accounts.
Trustly – Swedish organisation Trustly is another which allows its customers to make payments through their bank account, with an increasing number of casino sites having added the platform to their list of accepted payment methods.
Bank Transfers – While not being the quickest form of banking online, the convenience and safety of bank transfers make them appealing to many.
Debit Cards – While credit cards will be banned from the 14th April 2020, there will be no such ban on debit cards, meaning that this is likely to be the nearest alternative for players in the UK.
Credit Card Casino Bonus
There are no restrictions when it comes to claiming bonuses using a credit card, meaning that players can use this method of payment to claim their welcome offer on many casino sites in the UK. Be sure to check out our casino site reviews for further information in this area, including their specific terms and condiitons.
Tips and Tricks
When using credit cards, there are a number of tips and tricks that can be utilised in order to make the most out of the payment method. Some of these points including the following:
- Be sure to keep track of your spending, with failing to do so being a surefire way of going beyond your means.
- Set a direct debit for payments each month, meaning that the minimum payment amount will be taken where funds are available.
- Look into the interest rates and services in which different credit card providers are offering, while potentially discussing your application with experts beforehand.
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Credit Card FAQ[/bluebox]
The following are answers to some of the most commonly asked questions surrounding the use of credit cards on casino sites.
Players can easily deposit funds using credit cards, with their card details having to be added to their casino site account beforehand.
All of the casino sites discussed at Allvideoslots.com accept credit cards as payment methods, however this will change when new laws come into play on the 14th April 2020.
Deposits made using credit cards are instant, while withdrawals are likely to take anywhere between 2-5 working days, depending on the individual casino site.
Credit cards are 100% legal in the UK, however they will be banned on gambling sites from the 14th April 2020 following law changes in this area by the Government.
Final Words on Credit Card Casinos
Credit cards have long been one of the most popular payment methods available to casino players in the UK, with the ease of use, speed and convenience attracting users. However, the potential issues surrounding the use of credit has led to the British government banning this method of payment from April 2020, meaning that players will have to find an alternative option. Be sure to check out the other payment methods reviewed on our site beforee selecting your new method of banking with your casino.
