You are here: Home - Credit Cards & Loans -

Don’t bet on it (your HSBC card)

0
Written by:
05/01/2007

In common with other banks that provide UK current accounts and credit cards, HSBC is going to start charging more for people who use its credit cards to fund online gambling activities.

From 1st February customers of the bank will have to pay the cash advance rate rather than the normal purchase rate – which means interest set at between 21.9% and 27.8% instead of between 15.9% and 22.9%.

However, for those looking to compare credit cards, HSBC customers will not be charged a one-off fee, which is applied to other cash transactions like buying foreign currency. This is part of the bank’s evolving policy on its credit cards UK offering and it says it will continue to adapt to the market as conditions dictate.

“This latest move in connection with online gambling is one of a number of changes we have made to our credit card offering recently to bring us into line with the competition,” said an HSBC spokesperson.

However, there is no uniform policy on the issue of charging for gambling within the credit cards UK industry. Barclaycard and Lloyds charge this spending at their normal purchase rates, while MBNA, RBS/NatWest and Egg charge at the cash advance rate.

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Ski fans without cover face the high jump

Fans of winter sports have been urged to check their travel insurance policies before they head off to the slopes, as...

Close