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Can You Deposit On Draftkings with A Credit Card?
July 1, 2025
Quick Answer
While DraftKings accepts major credit cards for deposits, the transaction's approval ultimately hinges on your state's regulations and your bank's specific policies.
Should You Deposit On Draftkings With A Credit Card?
Here’s a look at the pros and cons of depositing with a credit card.
Benefits
- Instant Deposits: Funds are available immediately, allowing you to enter contests without delay.
- Rewards Points: You can earn points, miles, or cashback from your credit card provider on deposits.
- Fraud Protection: Credit cards offer strong consumer protection against unauthorized transactions.
Costs
- Cash Advance Fees: Many banks treat gaming deposits as cash advances, which come with high fees and immediate interest accrual.
- Interest Charges: If you don't pay your balance in full, interest charges will increase the actual cost of your deposit.
- Bank Restrictions: Some financial institutions may decline transactions to fantasy sports and gaming sites.
How to Deposit On Draftkings With A Credit Card
Funding your DraftKings account with a credit card is a straightforward process. This guide outlines the key steps to get you started, from selecting the right card to confirming your deposit.
Access the Deposit Section: After logging into your DraftKings account, navigate to the deposit page. This is typically accessible from the main dashboard and will present you with various funding options.
Choose the Right Card: Not all credit cards are ideal for funding gaming accounts. Consider factors like cash advance fees and rewards programs. To find a suitable option, the Kudos explore cards tool can help you compare different cards.
Enter Transaction Details: Select the credit card option and input the amount you wish to deposit. You will need to provide your card number, expiration date, and CVV code to proceed.
Confirm and Verify: Review the transaction details for accuracy before submitting. Your bank may require an additional verification step, such as a one-time passcode sent to your phone, to authorize the charge.
Impact On Your Credit Score
Using a credit card for DraftKings deposits can affect your credit score in several ways, both directly and indirectly. Here are a few key factors to consider before funding your account.
- Cash Advance Classification. Many card issuers treat gambling deposits as cash advances, which often come with higher fees and interest rates. This can increase your debt and potentially lower your score if not managed carefully.
- Credit Utilization Ratio. Large or frequent deposits can raise your credit utilization ratio, a significant factor in your credit score. Keeping this ratio low is essential for maintaining good credit health and financial stability.
- Payment History. Your ability to pay your credit card bill on time is crucial for a positive credit history. Missed payments on balances that include DraftKings deposits will negatively impact your score like any other debt.
Alternative Ways To Deposit On Draftkings
E-Wallets and Online Payment Services
For users who prefer not to share credit card information, e-wallets like PayPal and Venmo present a secure and efficient alternative. These services function as an intermediary, processing the transaction without exposing your card details directly to the platform. This adds a valuable layer of security and convenience, as deposits are typically processed almost instantly, allowing you to access your funds without delay.
Direct Bank Transfers and Prepaid Cards
Another common method is a direct transfer from your bank account using ACH (eCheck) or online banking. This option electronically debits funds from your checking account and is a highly secure way to fund your account. For those seeking greater control over their spending, prepaid options like the DraftKings Play+ Card allow you to load a specific balance onto a dedicated card for easy depositing.
Choose the Right Card to Deposit On Draftkings
Whether you're looking for top-tier travel rewards, cash back on entertainment, or simply a card with no annual fee, making the right choice is crucial for every transaction. Instead of sifting through endless options, the Kudos Explore Tool can help you compare nearly 3,000 cards to find the perfect match for your spending habits. This personalized matchmaker helps you find the best card based on your preferences, ensuring you maximize every deposit on DraftKings.
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Frequently Asked Questions
What credit cards does DraftKings accept?
DraftKings accepts major credit cards like Visa, Mastercard, and Discover. American Express is generally not supported for gaming transactions.
Are there fees for using a credit card on DraftKings?
While DraftKings doesn't charge deposit fees, your card issuer might treat the transaction as a cash advance, incurring fees.
Why was my credit card deposit declined?
Deposits can be declined if your bank blocks gaming transactions, you have insufficient funds, or you entered incorrect card details.
Supercharge Your Credit Cards
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
