Buying Bitcoin with Credit Card, no cash advance

[UCSFmed]

So I've been exploring the Bitcoin option.

First thing I noticed is that you essentially can't buy the damn things with a credit card, unless you are willing to pay far more for a Bitcoin than what the going rate is, or suffer other absurdities.

Circle lets you attach a credit card, it's true, but it seems that the purchase out of that card is charged as a cash advance, so you have to have a card that allows cash advance, plus you have to have high enough cash advance limits to allow you to load enough funds into Circle to buy your goods.

Coinbase allows you to attach a card as a backup to your bank account; they claim that if you don't have enough funds in your bank account to cover the Bitcoin, they will first attempt to get their Bitcoin back, then if they can't, they will charge the credit card. But this charge, too, seems to be done as a cash advance.

Indacoin lets you buy with a credit card, but at a rate that's far above the standard USD/BTC exchange rate ($444 at this time). Plus, they charge a 4% fee on top of that.

There are PayPal options, thru LocalBitcoin.com, for example, but there, one Bitcoin seems to be going for about $900.

So does anyone know of any good way to purchase Bitcoin with a (legit) credit card? Are there any?

 

[Burrr]

I use a debit card, no problems

 

[UCSFmed]

I mean an actual credit card, not a debit card. A credit card with no cash options.

 

[BULKTIME]

I'm interested in bitcoin as well...so after all your research, what's the cheapest way to get it?

 

[UCSFmed]

I'm interested in bitcoin as well...so after all your research, what's the cheapest way to get it?

Well definitely not with a credit card. Here's an excerpt from an article on coindesk.com: "Surprisingly, it's still not easy to buy bitcoins with your credit card or PayPal, depending on your jurisdiction. This is because such transactions can easily be reversed with a phone call to the card company (ie 'chargebacks'). Since it's hard to prove any goods changed hands in a transfer of bitcoins, exchanges avoid this payment method and so do most private sellers."

For this reason, and for other reasons I'm sure, the markup for credit card purchases of Bitcoin is excessive.

I started this thread hoping that people would contribute if they've found viable credit card options for Bitcoin. So far i haven't found any.

 

[Leprechaun]

You can use debit cards but your bank or credit union might block the transaction. You can use PayPal or gift cards. I've used my credit card without issue in the past.

Call your bank and ask them if there is a cash advance for buying Bitcoin. You can also try a Bitcoin ATM, if any are in your area.

Also, for cheaper rates on purchasing coins check out Bitcoin.org they have a section with exchange rates.

https://howtobuybitcoins.info/#!/

You can also try selling some items and accept Bitcoin as payment.

 

[Prairie Boy]

Scotiabit my friend,u can buy btc with vanilla visa cards etc