Gambling Money

Taking a cash advance on your credit card isn't going to get any bonus/benefit out of any loyalty program your card has. IE: if they give you 1 reward point for every $5 spent on your card, if you cash advance $500 of it they aren't going to give you 100 points (or airmiles or cash back or whatever your loyalty program is).

However, you can get money off your credit card where it is treated like a purchase: most TITO machines in the casino can do a cash advance off your credit card and if you select the "NO PIN" option the money comes off the card as a purchase and not as a cash advance...

However this is where we say: WARNING! WARNING!

What some people don't realize is that when you use your credit card at a store to make a purchase the retailed has to pay a fee to the credit card company to accept their card, usually around 3.5% - so if you buy $200 worth of groceries and pay with your Visa card the grocery store has to pay Visa $7 in fees for the ability to accept their card.

This is where the warning comes in: the casinos and/or the TITO machine providers aren't going to eat that fee.

So if you use the "NO PIN" option to take an advance off your card you have to pay the TITO fee (usually $1.50 to $5.00) and you would have to pay the 3.5% fee to the credit card company... so if you advanced $1000 off your card as a "NO PIN" transaction you would end up paying about $40 in fees at the ATM/TITO machine.


I bring that up just to say that it can be done (get money off your card so it looks like a purchase, which is what you were asking about) and also to point out whey its not so easy to just do this option at the casino (the casino isn't going to be absorbing those fees to give you a cash advance off your credit card).

 

For $2k I tend to use my pockets.

Once in the room, break it down into daily allotments and put the rest in the safe.

 

I've never considered not carrying my DL, but that's probably a good idea. Has it ever come up that you needed it & didn't have it?

 

he said he stashed all BUT a single CC and his DL into the safe. of course you need to have your DL with you at all times.

 

I stayed at the Cosmo before and would get money from my ING now Capital One 360 account. There is a free ATM for withdrawals at the CVS down the street next to Monte Carlo. I could withdraw up to $1,000 per day. I also used the ATM in the Cosmo once and paid a $5 fee but it saved me the time from walking to CVS.

 

I do the same, except I usually keep my debit card along with a credit card. And my passport card instead of a drivers license (which has an annoying tendency to confuse people, I've found).

 

I opened up a few lines just a couple months ago and there was no credit report inquiry. I would know because I get an alert anytime there is one and can see them online. While I don't think it's worth opening one for 2.5k a credit inquiry shouldn't be your concern. It's not technically "credit".

The process to open them was surprisingly fast and simple. All they did was call my bank with me on the line as well and ask them two questions about my checking account: 1) current balance 2) average balance over previous 3 months. A couple hours later I got an email that the line was set.

 

Oops

 

Yes--a "credit line" in Vegas is no such thing and they do not run a traditional credit check on you--they only want to know if you have any money in the bank.

 

Do they contact your employer? I am considering opening a LOC but don't want my employer made aware. Thanks....

 

No and I would have known for sure if they tried. Besides I probably put my own office number as the business phone on the application.

 

They do not contact your employer but ask for your contact info at work. My supposition is that if you DON'T pay, they will contact you there aggressively.

 

Whenever I plan a trip to Vegas, I use my seldom used Wells Fargo checking account. I usually load up that account with all my gambling money, then I set my daily maximum withdrawal to my desired amount (usually $800). When in Vegas (I normally stay in the center strip hotels), I go to the Wells Fargo ATM at Harrahs (in the Carnival Court) and withdraw my daily allowance. No fees and no hassels. I've been doing this routine for the past six trips without a hitch. Only disadvantage is this ATM is for withdrawals only, no deposits can be done here. Heck, if I hit it that big that forced me to make a deposit, I think I could live with that problem ... wink, wink!