Gambling News by Gambling Headquarters

HSBC has joined the ranks of banks charging customers higher rates for gambling transactions processed on its credit cards. The bank will charge customers the cash advance rate of interest (up to 27.8 per cent) instead of the normal purchase rate (up to 22.9 per cent). A spokeswoman told BBC News: "This is one of a number of changes we have made to our credit card offering recently to bring us in line with the competition." While MBNA and Natwest now charge customers using their credit cards to make gambling transactions at higher cash advance rates, Barclaycard and Lloyds continue to charge at lower rates. Credit card use is illegal for both casino and bookmaker gambling. But HSBC denies that the move is designed to punish online gamblers for stacking up debts and defaulting on credit card payments: "We have not seen that as part of our customers' behaviour," insisted its spokeswoman. Spending on online gambling accounted for only 0.8 per cent of all credit card spending in the year to June 2006, according to (Apacs).