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Marker limit application process

Discussion in 'Casino Gaming' started by 1ArmedBandit, Jul 8, 2012.

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  1. 1ArmedBandit

    1ArmedBandit Tourist

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    When applying for a marker at strip casinos, what factors do they consider in approving the application besides credit history, and limit requested? is there a rule of thumb, i.e. 1x or 2x your available checking balance or something to that effect?

    Does the Paychex/Telechex system that the casinos use obtain approvals for your credit application on weekends too? Guessing that they won't be able to call your bank if you arrived there on a sunday, and requested a marker.

    If this has been answered or discussed prior, any pointers to the right thread would be appreciated.

    :cheers:
     
  2. shifter

    shifter Degenerate Gambler

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    credit doesn't really come into play much. It's all about cash in your accounts average over several months.
     
  3. natedog666

    natedog666 17 and 20 Expert

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    And remember, not paying a marker is not like not paying a credit card bill, it is considered check fraud in Nevada and you can do serious jail time...
     
  4. LV_Bound

    LV_Bound VIP Whale

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    We do a Credit Line and not sure if they are one in the same, but from what they have told us they check the balance of the account referenced for the past 4-6 months for an average balance. The amount we can use is based on that figure. So, you can't simply open an account and toss in some cash to make it look good.
     
  5. rittermd

    rittermd Low-Roller

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    Casino Credit Check

    Years ago when I applied for a marker at Belagio, They had some snafu with the paperwork. When I arrived, I went to the cage and went over the application in person. When they brought out the paperwork, they had my casino credit report listing all the places I have had Markers (casino credit) along with payment history for each one. Looked like a TRW report but its a system only used by casinos for lines of credit. Had a listing of outstanding debts (unpaid markers) along with the credit limit at each place. They even had out of country casinos (Atlantis in the Bahamas)

    They also had my all checking accts - Only info was average monthly balance for the past 6 months and number of bounced checks.

    The guy showed me the report - very interesting. I always pay my markers and don't bounce checks - so no problems.

    He also asked If I have every called the gambling hotline "when the fun stops phone number by every ATM and cage." I said no and asked why he asked. He told me that if anyone calls and gives their name and casino they are at, the gambling hotline calls the casino and your credit is cut off. Apparently, many people only call the number when they are out of money and cant get any more $$.

    To quote the guy - "Its similar to having a bankruptcy on your TRW credit report when applying for a home loan."
     
  6. makikiboy

    makikiboy VIP Whale

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    As others have said, your credit limit is based on your average checking account balance over 4-6 months (or more) so it won't matter if you put a large amount in your CHECKING account, they will average it out over a period of time to determine your limit. They usually will only give you a rounded off limit based on your average checking account balance (only 1x, not 2x but usually only what you have in your account). It is possible to get a limit increase after a year or more but it will also depend on your history at that casino (with prior markers).

    When you take out a marker you sign a form that will allow that casino to take money out of your checking account if you fail to pay the marker by a certain date. It's not like a charge card or loan where you pay a penalty or fee if you are late, if you don't pay by a certain time they will go after you to get it, first by going after your checking account and after that probably through a collection agency.

    Too bad as I keep most of my money in my savings account or cd's, they only use your checking account to determine your limit.

    They usually run a credit check at least once a year (or two) to check out your history, while they never cancelled my casino credit I heard that they have retracted credit from others when they found the person to be at risk.
     
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