Details
Written by: RJ
Discover has sent out emails informing cardholders that gambling purchases will now code as a cash advance.
We are writing to inform you that starting on April 16, 2024, online gambling transactions (for example, transactions on sports betting websites) will be treated as cash advances as stated in your Cardmember Agreement, and your standard cash advance Annual Percentage Rate (APR) and fee will apply to these transactions. Prior to this date, these transactions may have posted as purchases.
As a reminder, there is no grace period for cash advances; we begin charging interest on cash advances as of the later of the transaction date or the first day of the billing period in which the transaction posts to your account. Cash advances are subject to your cash credit line and do not earn rewards.
You can enroll in cash advance alerts by visiting your online account at Discover.com to be notified any time a cash advance occurs on your account.
Thoughts
Feel like this would have already been a thing with the run online gaming has been on… now I wonder if this whole time we could have been earning cash back on gambling purchases…
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Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.