I've always been curious: how difficult it is and what the process is to receive casino credit? is it a line of credit that you pay back in installments, and remains open if some of the line is available? or is it a one shot deal that is only used for a certain time period and is due back within a certain amount of time after departure?
Do they take a voided check to auto-debit your account for the payment? How strict are the credit requirements?
It is usually paid back in full within 30 days after you use it and it is a legally collectable debt.They look at the last 6 months of your average balance in your checking account to issue you a line of credit.You an use all or just part of it as you see fit.They are pretty strict with the requirements
In other words, don't get one. Bad deal! If you can't gamble with money that you have already and it won't hurt losing, then you probably shouldn't be gambling. Just my thoughts.
Thanks for the replies.
I was just curious more than anything else; am not planning on it but I've heard that if you have the money already in a checking account that you can get a line of credit and get more comps that way.
One of the last stumbling blocks into Gamblers Anonomous.
Why would that get you more comps?
Casino credit in modern usage is really just a big check-cashing privilege. Nice to have if you are going to gamble more than ATM-daily-limits.
Line of credit has nothing to do with comps. I have a line of credit with three casinos where I gamble, so I don't have to carry a large amount of cash with me on planes in airports and etc. You can get a credit application online from the casinos website and fill in your information on it, it usually takes less than ten days. I find it very convienent, but you have to be careful not to go overboard. It's easy to gamble money when you just sign for it and not have to go in your pocket for it.
Edited: 12 years agonupekidd, I'm not sure you understand the meaning or usefulness of "casino credit".
Often times, it's not feasible or desirable to carry thousands of dollars worth of cash in your pocket for your entire trip, and ATM limits can be a problem. For example, my bank account has a $1200/day limit on cash at ATMs. If I'd like to play with a larger bankroll, casino credit is a much easier way to deal with it -- I can take my entire trip's bankroll out at once. If I have made a profit for the trip I can pay it off and my bank account has never been touched; if I lose it all, I pay it off out of my bank account at the end of the trip. No hitting the ATM at 12:01 each day.
The only time casino credit can be useful with regards to comps is if you're booking through a host that is unfamiliar with your play. If you're willing (and able) to open a credit line of $10,000 at the host's casino before your trip, I've found that they're more willing to take the risk on comping you up front. (If you cash out the casino credit and use it elsewhere and don't gamble, you may end up paying for more than you think, and you will definitely have burned a bridge.)
Edited: 12 years agoif your just looking for a line of credit in no matter what amount you can apply for your line of credit online from i believe any hotel
Line of Credit and Casino Credit are the same thing.You will be drawing against the amount of money that the Casino is making available to you
