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Line of credit & repaying it

Discussion in 'Misc. Vegas Chat' started by Joe, Nov 7, 2013.

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  1. Joe

    Joe VIP Whale

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    I know each corporation and perhaps each individual casino might have it's own policies on a line of credit repayment.

    Here is how it works at MSS. I took out a marker on 10/12 and didn't repay it. About 10 days later I received a notice for payment in the mail with a postage paid envelope. I sent in a check and that cleared today on 11/7. A nice float time even though MM rates suck.

    I know some here have said that if you don't repay it after X # of days, they just forward the marker (check) to the bank for payment.
     
    Christmas
  2. airball1996

    airball1996 High-Roller

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    Thanks.....?
     
  3. BLNT

    BLNT High-Roller

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    That was my understanding as well. Have to get off my wallet and send them (MGM) several grand within the next couple of weeks... :(
     
  4. 2VegasNuts

    2VegasNuts High-Roller

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    I usually get an invoice in the mail about 10 days after I leave and pay that. I have CL's at many casino's and they all seemed to work that way until......Bally's. I started a new line there a couple months ago, drew on it, lost, and waited for the invoice. About 20 days after I left, my new host called and asked if I wanted them to deposit the marker or whether I was going to pay it. Seems as though they don't send an invoice like everyone else (including Paris, PH, and Caesars)
     
  5. gambler

    gambler VIP Whale

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    That is a pretty nice float time (I thought it would be faster) but what do you mean by "MM rates"?
     
  6. Joe

    Joe VIP Whale

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    Money Market rates.
     
    Christmas
  7. jdvegas

    jdvegas VIP Whale

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    I have a standing instruction at MGM and Mandalay - they automatically deposit any markers I leave open after 30 days. Even if I win, I often leave the markers open just to take advantage of the 30 day float.

    This is a standard/easy request - you do not need to be a high roller to set up your marker repayments like this.
     
  8. hanoscf

    hanoscf High-Roller

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    Even though I've been going to Vegas since 1985, this is something I've never done. Is there a fee or interest charged?
     
  9. Joe

    Joe VIP Whale

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    No fees or interest, at least at the casinos I frequent. I bring a couple of grand in cash and if I run out, :cry: very easy to get more at the cage using my line of credit.
     
    Christmas
  10. jdvegas

    jdvegas VIP Whale

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    No fees or interest. Free money!! :thumbsup: :wink2:
     
  11. Jordan

    Jordan Caveman

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    Interesting.....I wonder what the process would be like to set up a CL if you are canadian?
     
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