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Online gambling and credit cards...

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Kb109
Frequent Contributor

Online gambling and credit cards...

I play fantasy football on DraftKings.com and FanDual.com. I need to deposit money into my accounts on these sites and was wondering if these charges would be considered cash advance or purchases. Does anyone have experience using credit cards for fantasy football money leagues or online gambling of any kind? Thanks yall!

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 1 of 79
78 REPLIES 78
kdm31091
Super Contributor

Re: Online gambling and credit cards...

Using credit for gambling = no in my book. If you don't have the money to do it, don't do it. People go to the casino, take cash advances to gamble with, and it tends to spiral downhill from there.

 

Anyway, I would think it would count as a cash advance so you wouldn't want to do it anyway!  Even if it comes up as a purchase, please be careful.

Message 2 of 79
CreditCuriosity
Moderator Emeritus

Re: Online gambling and credit cards...

Total Rewards CC lol.. Meant for gamblers.. Although not sure if it is a cash advanceSmiley Happy

Message 3 of 79
Credit-hoarder
Valued Contributor

Re: Online gambling and credit cards...

@kdm: Have to agree with you 100% on this one. I have past experince involving gambling and credit cards. OP: BAD IDEA--DON'T DO IT.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 4 of 79
Kb109
Frequent Contributor

Re: Online gambling and credit cards...

kdm, I DO have the money to do it. But since this is ONLINE gambling and not at a casino, I can't use cash obviously. It's just fantasy football.

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 5 of 79
kdm31091
Super Contributor

Re: Online gambling and credit cards...

This is one of the very few times id say use a debit card.
Message 6 of 79
Open123
Super Contributor

Re: Online gambling and credit cards...

Wow, high risk transaction.

 

In general, I'd avoid it.  If I were to, I'd use a card that I wouldn't care suffering AA on.  Certainly, don't use Amex or Chase.

Message 7 of 79
Kb109
Frequent Contributor

Re: Online gambling and credit cards...

They accept paypal. Should I use that? I don't use my debit card for anything but ATMs. I had fraud on my debit card years ago and it took two weeks to get all the funds back. I will NEVER use my debit card for anything online ever again.

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 8 of 79
Open123
Super Contributor

Re: Online gambling and credit cards...


@Kb109 wrote:

They accept paypal. Should I use that? I don't use my debit card for anything but ATMs. I had fraud on my debit card years ago and it took two weeks to get all the funds back. I will NEVER use my debit card for anything online ever again.


Not very familiar with Paypal, but you should certainly use something you wouldn't mind losing or suffering AA on.  Off the top of my head, the only card that may work well with this is the Fid Amex; from my experience, they seem to more comfortable with "cashlike" transactions.

Message 9 of 79
Kb109
Frequent Contributor

Re: Online gambling and credit cards...

I don't have that card. I was thinking about using Capital One since I don't really use their card and from what I've heard, they seem to be more lenient when it comes to adverse action. 

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 10 of 79
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