Changes for Credit Cards...

bigloser · 04-09-07, 09:24 AM

A lot of cards have previously charged for this.
Interesting that the T&Cs should detail a charge for an illegal activity though.

ShamsWoof10 · 04-09-07, 10:53 AM

Originally posted by Carlos019

I am looking to apply for a new credit card and I have ran into this paragraph in 3 different banks allready:

Cash Equivalents posted to your account on or after August 11, 2007, will be Cash Advances subject to the Standard APR for Bank and ATM Cash Advances. Cash Equivalents include the purchase of money orders, foreign currency, and travelers checks from a non-financial institution, person-to-person money transfers, bets, lottery tickets, casino gaming chips and, as of August 11, 2007, will include fines and bail bonds.

This seems to be aimed at us but whats the big deal with August 11th? What is going to change? I have seen this paragraph at Bank of America, Capital one and some other credit card website. thoughts?

Anyone know of any banks that dont restrict gaming transactions?

This is very very interesting and quite informative.. THANK YOU!!! At first I thought it is to stop the cashback abuse but I think there is something more to it... After Aug. 11th I will NOT use cc's or debit cards anymore....

RickySteve · 04-09-07, 12:58 PM

After 8/11, they begin considering payment of fines and bail bonds as cash advances rather than standard purchases. Can't you people read?

ShamsWoof10 · 04-09-07, 01:16 PM

Originally posted by Carlos019

I am looking to apply for a new credit card and I have ran into this paragraph in 3 different banks allready:

Cash Equivalents posted to your account on or after August 11, 2007, will be Cash Advances subject to the Standard APR for Bank and ATM Cash Advances. Cash Equivalents include the purchase of money orders, foreign currency, and travelers checks from a non-financial institution, person-to-person money transfers, bets, lottery tickets, casino gaming chips and, as of August 11, 2007, will include fines and bail bonds.

This seems to be aimed at us but whats the big deal with August 11th? What is going to change? I have seen this paragraph at Bank of America, Capital one and some other credit card website. thoughts?

Anyone know of any banks that dont restrict gaming transactions?

Ricky... brother I know you ain't talking about my comment because I CAN READ!! They are talking about bonds and such but that's not all and that doesn't concern this forum... THIS DOES...
"bets, lottery tickets, casino gaming chips"..

HELLLLLOOOOOO? The banks can now have confirmed that you are or can have a gambling problem and fwd. the info. to the authorities... Then you will find your ass in counseling awfully quick...

RickySteve · 04-09-07, 01:48 PM

Originally posted by ShamsWoof10

Ricky... brother I know you ain't talking about my comment because I CAN READ!! They are talking about bonds and such but that's not all and that doesn't concern this forum... THIS DOES...
"bets, lottery tickets, casino gaming chips"..

HELLLLLOOOOOO? The banks can now have confirmed that you are or can have a gambling problem and fwd. the info. to the authorities... Then you will find your ass in counseling awfully quick...

Wow.

Do you often sign legal documents without reading them? The language regarding gaming has always been in every credit card agreement.

I'm not sure who these authorities are you're referring to. However, before you treat your gambling problem you should get the crippling paranoia under control.

ShamsWoof10 · 04-09-07, 02:22 PM

Originally posted by RickySteve

Wow.

Do you often sign legal documents without reading them? The language regarding gaming has always been in every credit card agreement.

I'm not sure who these authorities are you're referring to. However, before you treat your gambling problem you should get the crippling paranoia under control.

Well I owe you an apology as I actually did think you were talking about my comment HOWEVER: language or no language the differance is they WILL BE regarding these as CASH ADVANCES meaning high interest right now as opposed to a purchase with a grace period... This was NOT in there before... To me that is a huge deal....

As far as the authorities it will most likely be local authorities... I have had two friends in as many months get busted for drug possession and a DUi but the system is repeatedly questioning them about gambling... They are reallly trying to get one of them for gambling and it has absolutely NOTHING to do with smoking weed.... Ask yourself why... The structure for sending people to counseling for gambling is going in place and if the general public doesn't see it that does not mean it is not happening.... It's clear as day to me.... Look at the Patriots "ACTS" meaning more then one and you'll see they can pretty much prosecute anyone for anything...

LargeMouthBass · 04-09-07, 03:08 PM

Originally posted by ShamsWoof10

HELLLLLOOOOOO? The banks can now have confirmed that you are or can have a gambling problem and fwd. the info. to the authorities... Then you will find your ass in counseling awfully quick...

LOL... You better get some better weed Sham, it's getting you paranoid. Besides, if this were to actually happen, isn't it about time to find another country?

jjgold · 04-09-07, 03:12 PM

No need to use cards, we only deal in cash

bigloser · 04-09-07, 03:15 PM

Originally posted by ShamsWoof10

: language or no language the differance is they WILL BE regarding these as CASH ADVANCES meaning high interest right now as opposed to a purchase with a grace period... This was NOT in there before... To me that is a huge deal....

This has been the case in the UK for a while now. However banks have a problem recognising what is and is not a gaming transaction. Most transactions will continue to be treated as purchases, so dont get too concerned.
ALSO if a US bank charges a cash transaction fee on a gaming transaction then implicit in this is that they know it is a gaming transaction. This could be used as evidence against them, should it be necessary, as it is illegal for them to process the transaction

ShamsWoof10 · 04-09-07, 03:21 PM

Originally posted by LargeMouthBass

LOL... You better get some better weed Sham, it's getting you paranoid. Besides, if this were to actually happen, isn't it about time to find another country?

With all due respect guys unless you have an explanation as to why local authorities have decided to intarigate people about having a gambling problem when they are indited for something totally unrelated then the above comments like get some better weed doesn't cut it.... I have had several run in's with the law as soon as 2 years ago... They came to my apartment and arrested me for drug possesion... I had about 3 grams of weed and a bowl.. I think they were looking for something else because they seemed quite disappointed.. I even had my computer on and it had a sports wagering site up... I was NEVER questioned about it and they never brought anything up about gambling...

In the last six months I know more then two who have encountered a run in with the law and all have been questioned about gambling which of course was unrelated to why they were arrrested...

My question to you all is... why is this suddenly being employed..? It's FACT that it is and never was before... so why all of a sudden and please don't give me stupid answers like I'm paranoid or gets some better weed..... If that is your answer or you really don't know then don't answer....

LargeMouthBass · 04-09-07, 03:57 PM

Hey Sham, where do you live? I guess if I were to be violated in my own apartment like that I would think differently too. Honestly, I wish I can tell you no worries but our country's literally turning into shit. If you don't feel safe, the best thing to do is find a local book and deal with cash. At least until Bush is out of the office or the law changes, whichever comes first.

Chuck Luck · 04-09-07, 08:45 PM

Wired Plastic **** Is Always Good For Us Sick Gamblers

ShamsWoof10 · 04-10-07, 02:06 PM

Originally posted by LargeMouthBass

Hey Sham, where do you live? I guess if I were to be violated in my own apartment like that I would think differently too. Honestly, I wish I can tell you no worries but our country's literally turning into shit. If you don't feel safe, the best thing to do is find a local book and deal with cash. At least until Bush is out of the office or the law changes, whichever comes first.

Hey Bassey... I live in Toledo Ohio and the violations in my apartment didn't concern me too much it's everything else I see developing... I can't say a local is stress free either though and if there must be changes then so be it as long as I know well in advance so I can prepare...

I think you should seriously reconsider your opinion on Bush... Not a good or bad opinion but an opinion that someone who can barely read a telepromter makes important decisions in this world... The ruling elite (Russell, Warburg, Rothchild, Rockefeller, Morgan, Peboddy, etc..) has said it many times... They pick our presidents and so called leaders of this world and they are not leaders or decision makers but simply like a waiter bringing you the food... They didn't make it they just deliver it... I have been asked on here where I get my info. and where is not the point.. What is the point is when I hear something and it doesn't make sense to me then I don't care WHO said it I don't buy it... To do so is having faith and the only entity that has my faith is GOD....NOT the media... Like I said the Bilderburger meeting is in about a month and a half so we'll see what they have to say...

Have a good day

LargeMouthBass · 04-10-07, 04:24 PM

The whole world knows Bush's an idiot and Cheney's the mastermind but in the end, he has the power to make the decisions. If he's too stupid to know what's going on, then it's his problem but we end up paying for it. It's just too bad that most of the US are as stupid or even more stupid than Bush to know what's going on.

Ultimately, we need change and hopefully soon.

abacus30 · 04-10-07, 04:56 PM

CC cash advance charges

So it appears we're going to be charged cash advance fees with no grace period to pay it off without interest charges... now that sucks. I guess for the U.S. customers, we must start using debit/wiring from checking or savings accounts to avoid extra fees, correct? However, I agree with the guy earlier - if the CC company admits that it's a "gaming or betting" charge and charges us a cash advance fee, then they're admitting they're processing a "gaming" transaction, which is illegal for them to do. Guess we'll see after 8/11.

ShamsWoof10 · 04-10-07, 05:02 PM

Not only does he NOT make all the decisions.. he doesn't make ANY decisions.. I doubt he even has a say on what he is wearing at a press conferance...