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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.
     
    Give Suncoast another try.
    Our new favorite place to stay, but gamble at MSS
  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.
     
    Give Suncoast another try.
    Our new favorite place to stay, but gamble at MSS
  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.
     
    Give Suncoast another try.
    Our new favorite place to stay, but gamble at MSS
  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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