Casino Credit Explained
Navigating Casino Credit
There are many types of loans out there -- student loans, personal loans, boat loans, and home loans. And just when you thought you’d heard about every loan imaginable, there’s one more to consider... Casino loans, otherwise known as casino credit. If you’ve never heard of casino credit, we've got the scoop.
What is Casino Credit?
Casinos want to encourage gambling and do all they can to make things easier for their customers. Having casino credit is very convenient for casino visitors.
How Do You Get Casino Credit?
Getting casino credit is actually quite easy .However, in order to get casino credit, you first have to apply. You can apply over the phone or at the credit office at the casino. From there, the process is almost instantaneous.
Why Have Casino Credit?
If you plan to visit a casino and the casino is in a bad neighborhood, having casino credit can help you avoid carrying around a lot of cash. Casinos do have ATMs, but the ATM fees are usually high, and you might have to wait in line. If you plan on playing a variety of table games, especially at higher limits, you might want to consider applying for casino credit.
Each casino has different rules for paying back casino credit. In most cases, if you use $1,000 in casino credit, you’ll have to pay it back within 7 days. If you apply for and use over $1,000 in casino credit, you’ll usually have up to 30 days to pay back your casino credit. Most casinos will do an automatic withdrawal from your checking account on the last day your bill is due unless you mail in a payment prior to that date.
Who Shouldn’t Get Casino Credit?
If you’re planning a casino visit in the near future and you’ve already set aside money for your trip, you might want to consider casino credit so that you don’t have to carry around a large sum of cash with you. Don’t apply for casino credit if you don’t have the cash available now because it’s unlikely that you’ll have the money available to pay it back in seven short days.
While casino credit is a tool of convenience, it's definitely not something you should use if you have the tendency to gamble more than you can afford.