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The average APR on such a transaction is 23.68 percent, according to a 2017 survey by Credit
That’s nearly eight percentage points higher than today’s average credit card APR.
“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.
This rule has been in place since 2000, even though it’s federally legal to use a credit card to purchase most online adult entertainment.
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Visa declined to comment, while Mastercard and Discover did not respond to inquiries about their online pornography purchase policies. that permit customers to gamble directly with credit cards,” says Steve Doty, a spokesman for the American Gaming Association.
Adam Gault/Getty Images If you need chips for that high-stakes poker game, better bring cash. However, credit cards do allow cash advances from ATMs, he says.