Customers betting on the Grand National this weekend are set to spend some 16m on credit card fees alone, according to research revealing that bad bets made on plastic could cost gamblers dearly.
Punters are set to bet 250m over Aintree weekend, according to bookmaker Ladbrokes. Up to one-fifth of that amount is likely to be paid on credit cards, which incur far higher fees for bets than other transactions.
Data from credit company TotallyMoney suggests UK customers are set to pay some 15.7m in charges over the weekend, on bets that are counted as cash advances by issuers and attract high interest rates and withdrawal fees.
Data from Defaqto puts the average cash transaction fee at 3.19 per cent and claims the average interest r…
Read the full article at: https://www.ft.com/content/f86b9024-56e6-11e9-91f9-b6515a54c5b1