Pro and Con
- Accepted at almost all online casinos around the world
- Accepts a larger deposit limit relative to other banking methods
- Secured and safe method
- Can be difficult to keep track of payments
Making a payment with Credit Card – Step by step
The process of making a payment with a Credit Card is simple, but should always be done from the official website of your credit card provider.
Here are the steps to make payment using your credit card:
- If you do not have a Credit Card, you can apply for one by going on the website of any leading bank and selecting the option to apply for a credit card.
- When you have a credit card, choose the operator or online bookmaker with credit cards that you want to register on and complete the given registration process.
- Check the fee associated with credit card payment, the processing time the operator states in its terms and conditions, and also the withdrawal procedure relating to credit cards.
- Click on the deposit button of your operator.
- Click on the option credit card. Enter the amount you wish to deposit in your account.
- Enter the Card number, Name, Expiry Date, and the CVV.
- It sends an OTP on your mobile in some cases, and in some cases, the payment is made.
- The funds are reflected in your account almost instantly.
The procedure of withdrawal using a credit card is also similar. The withdrawal time, however, is longer than the deposit time. Keep in mind, never share your credit card details with the customer service representative. No operator should ask for your CVV or password.
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Average time of credit cards for deposits and payouts
The average time a credit card typically takes is almost instant on most of the operators and bookmakers with Credit Cards. However, the payouts tend to take more time, which can vary from 24 hours to 72 hours, depending on the specific operator. A few operators add more time by keeping the amount with themselves to ensure the punter’s decision is final.
If you do not see the amount reflected in 4 working days, then it is wise to check with your bank first. If the funds are cleared from their side, then it is best to contact the customer support of the operator. MasterCard is usually not available for withdrawal. You can, however, withdraw using your VISA credit card.
Since the payment is pretty instant on most of the online operators and bookmakers with credit cards, paying through credit cards has become one of the most popular methods with punters.
Credit Card verification requirements
You can easily apply for a credit card these days from your favorite bank. You would need the following documents to apply for the credit card:
- Identity Card
- Address Proof (Aadhaar Card)
- PAN card
- Income proof (Salary slips etc.)
Once you submit the documents along with your application, the bank verifies your given documents. They would check all the documents thoroughly and may call references you provided them. A Credit Score is also vital to get you your card. A good score displays that you are a responsible person and know how to use your credit limit appropriately.
After checking all documents and your credit score, the bank takes the final call to grant you a credit card or not. Further, if it is accepted, the bank sets your credit limit based on your income generated monthly. The time taken for the entire process is around ten to fifteen days.
The History of Credit Cards
It might seem as though Credit Cards have been around for a long time, however, the first credit card payment was made in 1950, and the issuance was Diners club, whose founders were Frank McNamara and Ralph Schneider. It wasn’t yet fully a credit card but more like a charge card in which the owner had to pay the full balance off each month. It slowly evolved into credit cards with magnetic strips, and later the EMV chip was added.
Here’s a quick chronology of the history of credit cards you may be interested to know:
- 1950: The first credit card came into existence thanks to the Diners Club.
- 1958: Bank of America issued the first general-purpose credit card that included the “revolving credit” feature.
- 1958: American Express Company issued a payment card mainly for travel and entertainment.
- 1969: Magnetic strip was added in the United States.
- 1976: Bank of America launched theBankAmericard and merged with other banks to create the VISA card.
- 1979: Mastercard brand comes into being. It was first known as Interbank Card Association and then later changed its name to Master Charge before it finally became Mastercard.
- 1986: The Dean Witter Financial Services Group launched the Discover Card
- 2015: EMV chips became a norm in a credit card to secure transactions and help fight fraught transactions.
Credit Cards to other providers compared
There are several reasons why a credit card is better compared to other methods of deposit on No.1 casino and Sports Betting Sites with Credit Cards:
- It is very easy to access, and with the increase of e-commerce sites, most of the punters already have a credit card with them.
- It is simple and straightforward to use a credit card online. You do not need to be knowledgeable about using it. All you need to enter usually is the card number, the name, the expiry date, and the CVV. Everything is right on your credit card.
- You can own a credit card only if you are above 18 years old, so this also verifies your age for an operator.
- The majority of the online casinos accept credit cards without any issues.
- Credit cards are a very secure means of paying online.
- The most important, you make the online deposits now, but you pay the bank only at the end of the month, or in some cases, even later.
- Most, if not all, operators accept credit cards and it is eligible for the bonus options too.
Most popular payment methods
There are a lot of payment methods available like Paypal, Skrill and Ecopayz etc for gambling online with real money, and credit card is one of the most popular methods. There is no room for doubts if this is a secure method. The information which is on the credit card is only seen by the owner of the card. Online payments come with two-factor authentication, which is via an email or an OTP, further securing your transactions. Only the owner can see this code and enter it on the website.
Credit cards from MasterCard or Visa offer limited liability for the customer in case of fraudulent transactions. In the event where the card is stolen or lost, the holder does not face any issues because the transactions are denied. All you need to do is quickly call the bank and block your card.
Further, credit cards can now even be controlled through smart devices. You get immediate notifications if your card is used, and you can even check the balance online in minutes. A few credit card mobile apps even allow biometric authentication using a Face ID or a fingerprint.
Credit Cards FAQ
Q1: What are the top 5 mistakes to avoid when making a deposit?
- Giving false information upon registration.
- Not asking the fee if any on credit cards.
- Making a big payment online
- Depositing balance that is lesser than the minimum requirements
- Sharing your credit card details with others
Q2: Do I need to use the same deposit and withdrawal method?
Answer: Although it depends on the operator, these days most of the operators ask punters to deposit and withdraw using the same payment method to avoid double verification and also to support the Anti-money laundering Act.
Q3: Why does an operator block my account?
Answer: An operator can block your account for various reasons like but not limited to: Unsuccessful login attempts, duplicate account, verification issues, underage gambling, violating the terms and conditions, or fraudulent activity. Whatever the reason is, you can always connect with their customer service department to check the reason and get access again by resolving the problem.
Q4: What payment method will get me a bonus?
Answer: There are different ways you can get a bonus. A lot of operators, however, do not give a bonus if you make payment using e-wallets. At times, the operator runs special promotions if you deposit funds in your account using their preferred method. You can see these deals on the homepage of the operator and easily take advantage of it.
Q5: Are there limits on my deposits using a credit card?
Answer: Typically, the limits on deposits are the maximum when you use credit cards. The minimum limit is around Rs. 1,000, and the maximum can reach anywhere around Rs 2,000,000.
Q6: Are there any fees involved while using credit cards?
Answer: Most of the betting sites do not charge any extra fee when you use your credit card as a mode of payment. However, not all operators are the same, and it would be a good idea to first check the fee before you head for a deposit. If there is a fee, it usually is somewhere around two to three percent. You could also check with their customer support if you are not able to find the fee for the credit card.
Conclusion
Credit cards are one of the most convenient methods to quickly fund your accounts and start gambling in minutes. These days, most punters own at least one credit card, making an online deposit simpler than ever. You can find a lot of Sports Betting Sites with Credit Cards as it is a very straight forward mode of payment.
Besides, by using their card on an international-based website, credit card holders also gain a lot of points that can redeem some lucrative rewards and prizes. No matter if you are looking for Betting Sites with Mastercards or Betting Sites with Visa cards. Wetten.com recommends the Best Betting Sites with Credit Card in India, making gambling secure, enjoyable and profitable.
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