It’s not uncommon for gamblers to use credit to finance their casino play. In fact , some casinos offer a credit card just for their customers—but it can be a risky proposition if you don’t manage it properly .
And yet for some people , the temptation to take out a line of credit at the casino is too great to resist, and they end up overspending or running up debt as a result .
For those people , the tips below will help to make sure their casino spending doesn’t spiral out of control and end up ruining their credit scores .
1 . Set Up a Regular Payments Schedule
This should be the first tip be because it shows you are committed to not letting your borrowing get out of hand. If you don’t follow through on this , it only serves to demonstrate that you don’t value your payments and that you will most likely run into more trouble in the future .
You want to make sure your payments are set up so that you can be disciplined enough to make them regularly and on time .
2 . Use a Casino Credit Card
If you have a casino credit card that you use regularly for casino play , it is a good idea to try to keep that particular card separate from your other credit cards that you use for other things . This can help keep you from making impulse purchases with your credit card and gambling with the debt.
But if you do have a casino credit card and you want to keep it separate from your other cards , you may want to avoid using it at the casino to pay for all of your purchases . This is because it can cause your credit score to be lowered when you have too many open credit card accounts.
For best results , try to only use the casino credit card to fund your bets at the casino and never use it elsewhere .
3 . Cash-Back Rewards Programs
Some casinos offer cash-back rewards programs to their members. These rewards programs usually take the form of bonuses that you earn based on your gambling activities. If you are especially good at using your casino credit card to your advantage , these cash-back rewards can be a great way to build up the money that you have to spend on gambling again .
One way to make sure you get the most out of these cash-back rewards is to make sure that you use your credit card to make as much of your casino payments as possible . This way , you can get the most amount of money back from your cash-back rewards program.
4 . Don’t Overload Your Credit
Another way to make sure you get the most out of a cash-back rewards program is to make sure that you don’t end up overusing your credit card and building up a high balance that you need to pay down later . You can do this by only using your credit card for small increments of cash at the casino and regularly paying off the balance on your credit card after you get home.
5 . Monitor Your Credit Score
Finally , it is important to monitor your credit score on a regular basis so you know what is going on with your borrowing and how it may affect your ability to borrow money in the future .
A good idea is to check your credit score at least a couple of times a year to make sure you are on track to maintaining a good credit score . This way , you can identify any potential issues with your borrowing early and avoid getting yourself into more trouble.
6 . Keep Your Debt in Check
Finally , it is important to make sure that you don’t end up overextending yourself when it comes to your casino play. If you have a debt that is getting too big to handle, you can always work to pay it off or renegotiate your payment terms with your lender .
For certain debt situations , it may even be a good idea to file for bankruptcy and get rid of your debt altogether. But you should never go into debt at the casino—and if you do, it is important to be disciplined enough to pay off that debt as soon as possible .
7 . Pay Down Your Debt
Finally , it is important to make sure that you don’t get too carried away with your casino spending and find yourself buried in debt. You should watch your spending closely and make sure you pay off your casino debt as soon as you can .
8 . Don’t Forget About Your Free Credit
Finally, it is important to make sure you don’t completely neglect your free credit score. While your credit score is very important when it comes to borrowing money and keeping your borrowing under control, your credit score isn’t the only thing that matters when it comes to borrowing money at the casino. If you don’t care about your FICO score , you can end up borrowing more than you can afford at the casino.
My name is Kenneth E. Brock. I am the author of this blog. I love to write blog posts around casinos and I love to provide reviews of new and old casinos to my readers. I’m an ardent casino player and love to stay updated with all the new casinos that are opened. I also love to write about all the casino bonuses and promotions that are launched by various casinos.