How to Get Casino Credit
Casino credit is a great way to get more playing time without carrying a lot of cash with you. However, like any credit, if you don’t treat it with care, you can run into serious problems. Getting casino credit requires a high level of financial savvy and discipline, which many players lack. Many problem gamblers have used casino credit to fund their gambling habit and ended up in deep debt.
Most trusted online casino use a company called Central Credit to track the credit histories of their customers. This system allows them to see where other patrons play and their credit history, reducing the chances that a player will overextend themselves at more than one property. The companies that operate casinos also pool this information with competitors in Las Vegas (unless you’re a big whale that they want to keep secret).
Before you can use a casino credit line, you must provide the credit department with a copy of your driver’s license and two other forms of identification. In addition, you must fill out a credit application and agree to abide by the casino’s Credit Terms & Conditions and Guest Agreement.
Once a player is approved for a casino credit line, he or she can request chips at the table games and slot machines by asking the dealer or cashier. The casino will then issue a marker, which is similar to a check. A due date is assigned to each marker and if the casino doesn’t receive payment by the given date, it will attempt to collect the debt directly from your bank account using a special process known as an “account receivable transfer.”
Unlike a personal loan or credit card, casino markers are not reported to a consumer credit reporting agency such as Experian, TransUnion or Equifax. This is because federal law requires that casinos report only large currency transactions and multiple, simultaneous casino transactions totaling more than $10,000.
It is possible to get casino credit even if you have no prior casino credit, but the amount you can obtain will be limited by your annual income and your credit score. Most applicants with a good credit rating and substantial income will be able to obtain up to a few grand in credits. If you have a very poor credit score, you will be unable to obtain any credit. However, if you pay off your marker debt quickly, it will not appear on your credit report. If you are unable to repay your marker, the casino will send you a letter threatening legal action and may file a complaint with the Clark County district attorney. This is why it’s important to always have enough funds in your bank account to cover a marker if you use one.