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Ban on Credit Card use for gambling- comment

Written by Salman Haqqi, Senior Personal Finance Writer

14 April 2020

As the Gambling Commission announces a new ban (due to come into effect in April 2020) on using credit cards for gambling, money.co.uk comments

Salman Haqqi, personal finance expert, said: "We welcome the news that gambling on credit cards will be banned from April this year, better protecting vulnerable people from using and potentially losing money that they don't have.

"The long-term financial repercussions, if you are unable to meet your regular repayments, mean that debt is not something that should ever be gambled with. What makes using your credit card for gambling even worse is that it is registered as a cash transaction by the lender, which is not only normally far more expensive than making a standard credit purchase, it also leaves a mark on your credit record."

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Salman Haqqi

Salman Haqqi, Senior Personal Finance Writer

Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. He left the world of journalism to pursue his passion for personal finance.

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Joel Kempson

Joel Kempson, Personal Finance Writer

Joel Kempson devotes his time to helping people navigate the world of personal finance and make informed decisions about their money. He spent his early career writing about TV, movies, comic books and rock music.

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