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Ban on Credit Card use for gambling- comment
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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Our spokespeople
Salman Haqqi, Personal Finance Editor
Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. Salman left the world of journalism and moved to the UK to pursue a passion for personal finance and a desire to help people make informed financial decisions.
Read Salman Haqqi's articles and guides
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.
Read Joel Kempson's articles and guidesAbout Salman Haqqi
Salman is our personal finance editor with over 10 years’ experience as a journalist. He has previously written for Finder and regularly provides his expert view on financial and consumer spending issues for local and national press.