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Credit Card cash advance interest

Posted by SarahF SarahF
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Cash Advance Interest is charged at a specific rate for all cash advance transactions. This rate is outlined in your credit card details.

To stop this interest from being raised, the credit card must be paid in full using a payout figure. Please call our Contact Centre on 13 17 19 between 8am - 8pm local time to have this calculated.

Effective from 1st April 2010, all purchases for gaming or gambling transactions such as lottery tickets, gambling chip purchases, and online gambling purchases will be treated as cash advances and the cash advance interest rate will apply to them.

 

Transactions made for gambling purposes (including lottery ticket purchases) are essentially for goods and services which can be easily converted into cash. This is similar to foreign currency purchases or traveller’s cheque purchases, which are also treated as cash advance transactions.

 

Transactions will be identified as gaming, or gambling, from the Merchant Category Code supplied with each transaction from Mastercard. These transactions will include online and other betting.

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