Last updated: April 22 2012
As a matter of a fact, there are a number of popular credit card companies. But the majority of online casinos only supports VISA, MasterCard and Diners Club International.
Any credit card is linked to your existing checking account and you can apply for it through your local bank.
Any credit card payment is in fact a loan. If paid on time you are not charged interest, but if not paid on time the interest rate can be very high, although never exceeding 25%. The credit card holder is liable for the loss or fraudulent use of the credit card up to $50. However, frequently this fee is waved, provided the problem is reported timely
Registering your credit card
You have to provide the casino with your credit card details which will be used to validate your credit card number:
- Your credit card number
- Your 3-digit credit card verification number (CVC2 code) found on the back of your card
- Your name and your address
You are often required to make a 'minimum purchase' of $15 or more because the casino pays a 'discount fee' on each credit card transaction, that can range between 1.7% to 4%. After submitting your deposit, the bank that issued the credit card will check that sufficient credit is available on your card. Once the transaction is authorized your bank will send the money to the bank that handles the credit card transactions for the casino, and your are ready to play.
You can only withdraw the amount you originally deposited to your credit card. Additional winnings will be paid by check or other payment method.