|Barclaycard Plans Credit Card Fee Hike for Gamblers|
Credit card company Barclaycard confirmed it plans to introduce a credit card fee for those individuals that use their credit card to deposit money into a gambling account.
Currently, Barclaycard does not charge its users for depositing funds into an online casino account but as of Monday 28th May, 2012 all transactions made to online casino accounts will be considered as cash withdrawals and will be subjected to the new 2.99% withdrawal fee with a minimum of £2.99. This means that players will be expected to pay 30% more for every £10 bet made using a Barclaycard credit card.
From Monday 28th May, 2012, anyone withdrawing cash using their Barclaycard credit card will be exposed to the 2.99% fee with a minimum of £2.99 which is an increase from 2.5% with a £2.50 minimum.
There will be no interest inflicted upon the customer provided they pay the money owed by the date stated on their credit card statement.
Barclaycard also announced it would be increasing the currency exchange charge on making purchases from 2.75% to 2.99% which means that for every £1,000 a person spends on holiday abroad they will have to pay £2.40 in credit card charge fees.
However, the hardest users to be hit will be the online gamblers that use Barclaycard credit cards to deposit funds into their online accounts.
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