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Line of Credit Question

Discussion in 'Casino Gaming' started by thecarve, Oct 2, 2015.

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  1. thecarve

    thecarve Misanthrope

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    I'll be staying at Aria later this month. I had a LOC there a few years ago but due to inactivity, it is no more, unfortunately. I'd rather open a new line than bring the cash or wire the front money...

    But I'm currently unemployed. Is that an issue? Or do I just need to have enough funds in the account I give them to justify the amount I'm asking for?

    I know that none of my other lines of credit have ever shown up on a credit report so I assume that my employment status isn't all that important either so long as they have access to enough funds to cover it...or am I all wet?

    Thanks. :beer:
     
    Number 50!
  2. Chuck2009x

    Chuck2009x VIP Whale

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    They don't have any way to tell you're unemployed, but it doesn't matter anyway. Mostly they care how much liquidity you have, because markers can be converted to bank drafts if necessary.

    If you ever had a LOC at Aria, it probably still exists, it's just inactive. If you still use the same bank account, all they need to do is re-verify your balance. Just call the cage a couple weeks before you go and tell them what you want to do. It's possible you won't actually be able to activate it until you get there.

    The only time I ever ran into this was at V/P, I hadn't used my LOC in just over 12 months, went to a table and tried to take a marker, they sent me to the credit desk. I'm pretty sure it was outside business hours, whatever they did, it only took about 10 mins and I was good to go. I think I had to sign something to authorize them to pull my info again, I don't remember if it was a complete application like the original, but I don't think so.
     
  3. shifter

    shifter Degenerate Gambler

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    they don't care where you work.

    all casinos use an industry specific credit service, Central Credit.

    they track your lines, activity, losses and payment history at all casinos.

    depending on your central credit report, (re)opening a CL they may not even check your bank accounts.

    if you have similar lines elsewhere with good payment history, that's all they care about.

    there's people that show up to pay their markers with a backpack full of 20s.
     
  4. thecarve

    thecarve Misanthrope

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    Thanks guys. I figured that was the case but wasn't sure.
     
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  5. JeJas

    JeJas VIP Whale

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    On the application form they do ask for your employer, company etc.
    You can of course say "self employed".
     
  6. paperposter

    paperposter VIP Whale

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    dont put self employed ever then they do a dba check and a busiines check on yor company that u dont have , put retired
     
  7. JeJas

    JeJas VIP Whale

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    That's good advice! good to know.
     
  8. mrem3200

    mrem3200 High-Roller

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    I have a line of credit question that is not worthy of its own thread. I used a line my last trip for the first time. Before I checked out I paid of part of one of my markers. When they took the money out of my bank account to pay off the marker they took out the full amount, instead of what was left after I paid off part of it. I called casino credit and they said they knew about the mistake and reversed it but it has been over a week and my bank is still showing the incorrect amount being taken out. Should it take that long for what they do to show up on my banks side?
     
  9. paperposter

    paperposter VIP Whale

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    7 to 10 days

    in fact if you let them deposite your markers ,mlife wont let u play on them with out permission , they want atleast 7 days for them to go thru there system i think it might be up to 2 weeks.i just went thru this.i had to get a host to do a tto because of this.

    also is your bank a major bank becuase the smaller ones take longer
     
  10. shifter

    shifter Degenerate Gambler

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    when you paid off part of the marker, you should have received the old marker back and they printed a new lower amount marker for you to sign.

    never leave the cage without getting your marker and tearing it up.

    lesson learned.
     
  11. shifter

    shifter Degenerate Gambler

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    correct and same if you send them a personal check. it takes them over 2 weeks to let the check clear before they actually clear your account and restore your available credit.
     
  12. JeJas

    JeJas VIP Whale

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    I had experience once the marker deposited into the bank, it took 4 long weeks to clear at the casino.
    typically 2-3 weeks.
     
  13. chess

    chess VIP Whale

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    This question is for shifter or paper or anyone that knows it...

    How do LoC work at different places....when I say that I mean Bellagio vs Cosmo vs PH....

    The reason I ask is I have LoC at 3 CET places....what's the chances of me getting one at Bellagio and Cosmo ? Do they MGM and Cosmo look to see I have LoC at CET casinos ?

    Thanks guys
     
  14. paperposter

    paperposter VIP Whale

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    at palms they look at hardrock and vise a versa plus the usualy banking info i guess becuase there local independent, at cet and mlife they didnt it was the usulay baning info. cosmo cant asnwer , i belive the answer for mlife is no , in fact 99.99 % just the banking info and a job if you have one .thats all, if u have one at there other properties then its very easy to the next

    hope that helps

    rember things could have changed with the new owners at cosmo, so notsure anyone with an old line can give a correct answer how its done now im sure things have changed
     
  15. chess

    chess VIP Whale

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    Yeah...I have LoC at Paris, PH, and Ballys...

    Mainly does MGm and Cosmo look to see if I have lines open or do they not care LOL?
     
  16. mrem3200

    mrem3200 High-Roller

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    I did get all of that (original marker, receipt showing partial payback, etc.) and it is correct in their system. When I got back from the trip I talked to my host and he looked up my outstanding balance and it was correct. And when I talked to casino credit, the woman I talked to acknowledged the amount of the original marker and the net amount I owed and said it was their mistake. So the cage/I didn't fuck up the paperwork. It will all be fine, I am just surprised that it is taking so long.
     
  17. paperposter

    paperposter VIP Whale

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    i cant asnswer that but my guess would be no about cosmo but my guess they would just look at the usual .

    mgm didnt or didnt care . i found mlife to be the eaisiest , cet the hardest for large lines meaning any thing over like a few grand
     
  18. shifter

    shifter Degenerate Gambler

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    Yes that's what central credit tracks.

    They can pull your report and see all your lines at every property with payment history, max loss and other notes.

    That's how they can know who you are before you come.

    If you have several lines it's interesting to request a copy of your report (which they have to provide for free due to the FCRA) and look at it.
     
  19. Imperial_Palace_King

    Imperial_Palace_King High-Roller

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    I don't usually keep a lot of money in my checking account. Is it necessary to have a large sum in there in order to get a higher amount of credit?
     
  20. pleepleus

    pleepleus 2016 - The monkey is back

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    Yes. They typically look at your average balance.
     
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