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5 naughty things your credit card won't buy

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Gambling chips
Gambling chips | Adam Gault/Getty Images

Gambling chips

If you need chips for that high-stakes poker game, better bring cash. There aren't "any casino locations in the U.S. that permit customers to gamble directly with credit cards," says Steve Doty, a spokesman for the American Gaming Association.

However, credit cards do allow cash advances from ATMs, he says. These funds can then be used to buy chips or inserted into an electronic gaming device like a slot machine.

Keep in mind the high cost of a credit card cash advance. The average APR on such a transaction is 23.68 percent, according to a 2017 survey by CreditCards.com. That's nearly eight percentage points higher than today's average credit card APR.

It's a pricey way to play because most credit cards charge interest on cash advances immediately after the advance is issued. In addition, you're likely to be charged an ATM fee from your bank plus a surcharge from the company that owns the ATM. With a cash advance, those fees plus the accrued interest charges on the cash advance can quickly add up.

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Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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