Poker Poker Poker!: Re: [vpFREE] Re: Bob Dancer's LVA

I don't believe that the credit rating agencies would be making moral judgments on how you use your credit.

Think of yourself as a credit rating agency.

What are your concerns about a person on your database.

1. how heavy is their debt load ( mortgages credit cards, loans ).

2. what is their credit history (missed payments etc.).

3. what is their cash flow.

4. what are their assets.

5. what is their work history.

6. do they own their dwelling or do they rent.

7. how long have they been at their current address.

If a person scores well on all of the above, no one will care if they have credit lines in a casino, they will already have proved that they are responsible persons who can handle credit judiciously.

What you do with the debt is not a concern.

In fact I'd be surprised if the algorithms that they use even look at the who, they care about the what.

Regards

A.P.

From: "jaycee5353@aol.com [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE <vpFREE@yahoogroups.com>
Sent: Wednesday, August 6, 2014 11:22:17 AM
Subject: Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

I was more concerned that rating agency might view casino credit in a different light and more negatively than regular credit cards.

Any thoughts on that issue?

On Aug 6, 2014, at 9:31 AM, Albert Pearson ehpee@rogers.com [vpFREE] <vpFREE@yahoogroups.com> wrote:

I suppose it could if
1. You owed a lot of money on a number of credit lines.
or
2. If you applied for a bunch of credit lines within a short period of time.

Simply having a number of credit lines that are active should not cause a problem.
It's like credit cards, if you have a number of them, but don't have big balances on all of them, or don't go out and apply for 5 new credit cards in a week, you will not have a problem.

Regards

A.P.

From: "jaycee5353@aol.com [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE <vpFREE@yahoogroups.com>
Sent: Wednesday, August 6, 2014 10:16:42 AM
Subject: Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

Does having several casino credit lines open have any effect on your credit ratings?

On Aug 6, 2014, at 7:15 AM, harry.porter@verizon.net [vpFREE] <vpFREE@yahoogroups.com> wrote:

Just to add, cash/ATM works well in most cases for most places (particularly if you have a bank account that will reimburse the more exorbitant of casino ATM fees).

However, having credit lines available can be handy when you're taking an extended casino trip (say, a week in LV) and don't feel comfortable carrying cash against the risk of a particularly sour run, or risk running up against restrictive ATM limits.

I've also found one useful when I come upon a promotion that induces me to risk more than I had planned, or simply when I happen upon an unexpected play.

I have around a dozen open casino credit lines. I seldom tap them, in aggregate, more than 2 or 3 times a year. (I am, by and large, a "cash player".) That inactivity sometimes means that I need to wait for an advance while they refresh their records. However, aside from that, there have been no adverse consequences.

---In vpFREE@yahoogroups.com, <Nordo123@...> wrote :

Thank you Albert, Bruce and roaches. I might be slowly changing my mind about casino credit. Call me old school however, I still feel uncomfortable with having a line of credit at casinos. I will remain a cash player.

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