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Gambling purchases

[ Edited ]
Posted by cgm cgm
Message 1 of 4 797 Views

Why are purchases on a credit card for gaming or gambling products including online gambling considered risky for Bankwest, and therefore initiate cash advance terms?

 

I note reference to this in the Cash Advance post.

 

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Re: Gambling purchases

Posted by PeteW PeteW
Message 2 of 4 787 Views

Quite simply, the very nature of gambling means the money might not be coming back. So if we're to give a customer cash from a credit card, their ability to repay that money is impacted by the fact they gamble it, therefore it's a more risky transaction (lending) for Bankwest. Does that help clarify @cgm?

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Re: Gambling purchases

[ Edited ]
Posted by cgm cgm
Message 3 of 4 784 Views

I'm more thinking about online purchases, rather than cash withdrawals.  E.g. $1.20 Oz Lotto purchase through your Tatts account.

 

I'm understanding what you're saying @PeteW!  But I guess why apply a one size fits all approach on this matter.

 

Customer's are provided invitations to increase their credit card limit, why shouldn't those customers also have the flexibility and responsbility to make the purchases they want to, without penalty.

 

How is having a $25,000 credit card limit less risk adverse?

 

I guess another way to look at it is, how is going out and buying $3000 worth of non-essential goods any different to gambling your money away.

 

The very fact customers are provided a credit card, shouldn't the responsibility test be tested at the point of applying, not once you have one.

 

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Re: Gambling purchases

[ Edited ]
Posted by AsongAboutU AsongAboutU
Message 4 of 4 81 Views

Sounds fare. How easy is it to pull the money though? It's the problem that's been bothering me. Either you find a good online casino (I only managed to find one so far https://gamestore.live/wot-accounts/) or ask for advice

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