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Visa and Mastercard declined to comment on their policies toward purchases of lottery tickets.If you do defy the odds, make sure you put your windfall to work so it continues to grow.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 Credit rubberball/Getty Images People who want to leave the past behind may find a previous arrest isn’t so easy to shake.Once you’ve had your mug shot taken by the authorities — even if the charges are dropped or you’re acquitted, the photo will remain as a matter of public record.For everything else there’s Mastercard.” Well, it’s not exactly true.It turns out there are some things credit cards won’t buy.
Some state regulations specify that lottery products in that state can only be purchased with cash.
Credit card companies don’t make the distinction between those who want to buy marijuana for medical reasons and those who buy it for recreational purposes.
“Most merchant services companies do not want to accept credit card transactions from cannabis businesses,” says Kristi Kelly, executive director of the Marijuana Industry Group, a non-profit trade organization for licensed cannabis businesses. Discover and American Express confirmed they don’t allow cardholders to buy medical or recreational marijuana. Mastercard pleads the Fifth, acknowledging the legality isn’t clear-cut.
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.
So you leave home without them, to riff off of American Express’ old catchphrase.