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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