If you keep your money in a national bank with lots of branches then you can just withdraw the cash from one of the Vegas branches when you get there. I specifically bank with Chase in large part for this reason. But Vegas has branches for lots of big name banks,,,,,BOA, Wells, PNC, 5th3rd ...many others.
This is a weird thread.
The original poster is weird about money management. And weirdly fearful.
Just ask to establish a line of credit. And answer the casino's questions.
Originally posted by: Dan Svatass
This is a weird thread.
The original poster is weird about money management. And weirdly fearful.
Just ask to establish a line of credit. And answer the casino's questions.
I have a simple strategy for the OP. Bring just $5 to Vegas. Select the proper slot machine. Win. Then stuff the TITO into your wallet. Cash it when you're leaving town. Problem solved
You may wish to bring two $5 bills just in case you don't pick the right machine at first.
I guess I should probably clarify why I just wanna get cash at the casino without getting a line of credit.
first of all, I have had my credit history blocked at all three credit reporting agencies. This means that unless I have an existing business relationship with someone, they can't access my credit report. This greatly reduces the chance of having somebody steal my identity. It also eliminates about 90% of the credit card offers that I used to receive in the mail. I still get some through my company, but they are "blind" meaning they haven't been able to access my credit history, and if I was silly enough to apply for one, they then have to check my credit.
If I were to apply for a line of credit at a casino, I am sure I would have to "unblock" my credit, which is a somewhat time-consuming task. I have a about a 14 digit access code, then answer some personal questions, to verify my identity. that I need to put in in order to have it unblocked, then I need to set the time for how long I want it unblocked. I can do that anywhere from 24 hours to six months.Plain and simple I just don't wanna go through that. also, when you apply for credit, it shows up and affects your FICO score.
In my opinion, it just would've been easier for me to send the casino a check a couple of weeks in advance and get the money when I was there.
At one point about 20 years ago, I did have a $5000 line of credit at Harris and used it only occasionally. Bottom line, it's not worth the effort to me.
You should verify with the casino that they would run a credit check. No inquiry showed on my credit report when I opened my line of credit at Southpoint. They used my checking account info and basically allow me to write checks. I do use Chase bank, which helps a lot, especially in those fun times when you get to put more in than you took out!
Susan, I'd be surprised if the casino didn't run a credit check; they always have when I've applied for a line of credit. Usually goes to Central Credit, which has appeared on my credit report.
Originally posted by: jstewa22
Susan, I'd be surprised if the casino didn't run a credit check; they always have when I've applied for a line of credit. Usually goes to Central Credit, which has appeared on my credit report.
I would be un-thrilled with that if it was counted as a "soft" inquiry, which dings your credit score by 3 points.
They have no reason to check your credit; they aren't extending you any.
Originally posted by: Kevin Lewis
I would be un-thrilled with that if it was counted as a "soft" inquiry, which dings your credit score by 3 points.
They have no reason to check your credit; they aren't extending you any.
Interesting, I didn't know that inquiries negatively affected your credit score. Are you pretty sure about that? Doesn't make a lot of sense; I know that one of the factors is use of available credit (I've lost a few points for carrying a low balance on my credit cards in relation to available credit), that makes me think that use of credit (including inquiries in anticipation of use of credit) would be a positive, not a negative.
Also, the casinos are extending credit, albeit for a short time (days) and at zero interest.
Originally posted by: jstewa22
Interesting, I didn't know that inquiries negatively affected your credit score. Are you pretty sure about that? Doesn't make a lot of sense; I know that one of the factors is use of available credit (I've lost a few points for carrying a low balance on my credit cards in relation to available credit), that makes me think that use of credit (including inquiries in anticipation of use of credit) would be a positive, not a negative.
Also, the casinos are extending credit, albeit for a short time (days) and at zero interest.
I misstated the policies. Soft credit hits are simple inquiries and don't affect your credit score. Hard inquiries are applications for credit and do affect your credit score.
I don't know how those casino inquiries are rated, but again, you're not actually applying for credit, so...
Too many hard pulls in a short period of time are a risk indicator. It indicates higher risks of acruing debt that never will be paid.
Soft pulls are inconsequential.
Freezing your credit is always the best option when not using your credit.
A marker is a possibility but I do not like being locked in to one property personally.
Is there risk carrying thousands in cash? Absolutely. Is it a risk likely to manifest? No. There are tens of thousands of visitors in Vegas daily/weekly with big stacks and incidents are rarely reported. That does not mean there are none. Gambling is about risk. This is just another risk.
