step further and ask
to know your net worth.
You’ll then sign
a release form which will allow the casino’s
credit checkers to make sure you have enough money
in the specified account to pay back the amount
of the credit you’re requesting. This is an
important item. When you apply make sure you have
more than enough in one account to fully cover the
entire line of credit you want!
The casinos will then
do a credit check to make sure you’re a good
risk. The whole process takes about a week. What
are your chances of being turned down?
Stated one casino credit
manager who wished to remain nameless: “I’d
say that approximately three-fourths of the people
who ask for credit get it. The only area where there
might be some difference of opinion between us and
the patron is on how much credit we should give.
First time credit applications are often for sums
that we feel might be a little too high. If someone
asks for $10,000, we might say ‘Let us give
you $5,000 and we can readjust that figure in the
future.’ The people we turn down are usually
people who just have a history of not paying their
bills. Remember we’re giving a loan for up
to six weeks with no interest and we want to make
sure we’re going to get that money back.”
What percentage of
the money borrowed by players is not returned? The
figure varies from casino to casino and state to
state, and is a closely guarded secret, but I estimate
that less than three percent of the total money
borrowed by credit players is not paid back in a
timely fashion.
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Credit Line Benefits
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Credit Line Benefits Part 2
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