From 1 December 2020, you'll no longer be able to use your credit card to make transactions related to gambling or lotteries. We will be doing this by blocking transactions from merchants that are classified under the gambling merchant category code. More information.
What are the changes from 1 December 2020 to gambling on Credit Cards?
Can I use my Credit Card for gambling?
We want to protect our customers from harm by ensuring you don’t use credit – which is a loan, so a form of debt – to gamble. This means that any gambling purchases using a Bank Australia Visa Credit Card will be blocked. This includes, but is not limited to, pokies, online gambling, casinos, government lotteries, and horse and dog racing.Not authorising gambling on credit cards is an extension of our Responsible Banking Policy, which outlines that we don’t lend money to the gambling industry or organisations that generate direct revenue from gambling.
Customers can still use a Visa Debit Card linked to a transaction account for these transactions. The difference is this is your money, rather than loaned money as with a credit card.
If you’re worried about your gambling, or someone else’s, and you’d like to speak to an independent person, please call the Gambling Help Line on 1800 858 858 or visit https://www.gamblinghelponline.org.au for information and support.
What are the Credit Card changes from 1 Jan 2019 to interest free periods?
The Australian Government is introducing new rules from 1 January 2019, designed to help credit card holders better manage their credit card.
The changes described in the following FAQs will be automatically applied to credit cards from 1 January 2019.
Simplifying how we calculate interest free days
Under the terms of the credit card contract, cardholders are eligible for interest free days provided they:
- pay the closing balance stated on that statement of account in full by the due date; and
- paid the closing balance stated on their previous statement of account in full by its due date.
If they do not meet these conditions, you will not be eligible for any interest free days and are charged interest on any outstanding balance from the transaction date.
From 1 January 2019, although interest will still be charged on the outstanding balance if you are not eligible for interest free days, interest will apply from the day after the statement of account due date. This means you may pay less interest than now.
- What are the fees and interest rate that applies to my credit card?
- What are the online options to lower my credit card limit?