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Credit cards are certainly one of the most common forms of payment, whether online or in retail stores. MasterCard is among three of the most well-known and also widely available credit card brands. Learn more about them here. Read more
MasterCard is a multi-national financial services cooperation. They primarily process payments between merchants and the banks and credit unions that issue credit cards. MasterCard is the brand that is licensed to the banks and credit card issuers and thus displayed on their credit and debit cards.
In its first iteration MasterCard was known as “Master Charge: The Interbank Card”, which was first issued in 1966 by the United California Bank. In 1979 the Master Charge card was renamed to MasterCard.
Generally speaking customers apply for a credit card with their personal bank, though there are credit card unions that deal in nothing but credit cards that are not specifically attached to personal bank accounts. Here you’ll only have a credit card account.
MasterCard is best known for their classic credit cards and in recent years more and more their prepaid cards.
Credit card accounts don’t require any of your own funds. A credit card is attached to them that you can use at retail store or for online purchases and the credit card issuer will then pay the bill for you.
Eventually, usually once a month, you’ll receive a bill from your credit card company or bank that will list all transaction you have recently made and list a certain amount that you are required to pay as soon as possible. Credit cards usually have a limit you can spend with them and regular repayments are required in order to keep a good credit score.
Also, when repaying the money you owe the credit company, an interest fee is usually charge. That amount may vary quite a bit between different credit card issuers or banks, depending on the perks you get along with the credit card.
This is a prepaid card that you can purchase online or in stores and use in a similar way to a credit card, because it has a 16-digit code that is required for online purchases. The prepaid card displays the MasterCard logo, because the company stands behind the use of such cards.
You’re able to load more money onto such a card, especially if you use it regularly but don’t want to have a credit card and the interest usually associated with paying it off. A prepaid MasterCard is charged with money that you already put on there, meaning you only use available funds.
Credit cards are a widely accepted method for deposits and withdrawals at most online casinos. MasterCard is often available for deposits. Here you simply need to go to the cashier, select MasterCard as your payment option and then choose the amount you wish to deposit. You’re generally able to use a MasterCard prepaid card here as well, but obviously you can’t exceed the amount that is on the prepaid card.
Either way, you’ll enter your 16-digit number and the security code and away you go.
Withdrawals with MasterCard are a different manner. For some reason MasterCard is rarely available as a withdrawal method. In such cases you’re almost always going to have to default to a bank transfer.
To be quite honest, we’re not entirely certain what the reason is behind the inability to withdraw via MasterCard. We have seen it offered here and there, but only on rare occasions.
Considering that most online casinos want you to choose the same method for withdrawals and deposits, you may be delayed when requesting a withdrawal after having deposited using MasterCard.
Using MasterCard as a payment option most often means that you can avail yourself of just about any bonus offer that a casino may have available.
MasterCard users are rarely, if ever, restricted from claiming bonuses and we’ve not seen restrictions for MasterCard prepaid card users either.
Additionally MasterCard is widely accepted as a payment method, not just at online casinos. And transactions are secure and listed on monthly bills, meaning you’ll always know what you spent.
Applicable transaction fees may not be too high with credit cards, but it is important to pay attention to the interest rates a credit union may impose. They can be very different between banks and credit card issuers and whilst some offer attractive benefits, they may not outweigh the interest charged.
Finding an online casino that offers MasterCard as a deposit option is not at all difficult as most do just that. It’s actually a lot more difficult to find one, where MasterCard is also available for withdrawals. That’s very rare and if we find one, we will make sure to include that information in our review.
Beside that you’ll be looking for other criteria to check out when choosing an online casino. Our comprehensive guides will inform you what you should be looking out for when choosing an online casino and we make sure to thoroughly review our preferred casinos as well.
Just check out the review for the online casino you are interested in and learn more about it.
If you have questions or suggestions, be sure to let us know.