>a hard pull of your consumer credit
I have obtained casino credit at several places recently, and this evidently has not happened. I have checked and there is no record of any such inquiry at the credit bureaus. I assume a hard check leaves a record, and other such activity by other outfits does show up on record, but not anything initiated by getting cleared to use markers.
The one lady at the first place I applied talked to me about what she would do and said they call your bank. Subsequently I learned they do have this central credit as you call it, basically casinos cooperating on information.
There might be circumstances under which they would check your consumer credit history but I did not encounter this.
Long ago casinos got ripped off by two brothers who took names off some headstones and opened a line of credit for their baccarat play. By having a few confederates at the other end of the table they were pretty much just churning the accounts and getting their credit levels raised by paying all markers within 48 hours of returning home. After the free rooms, free cigars, free brandy lifestyles their marker limits were up to 800,000 and by careful timing at shift changes they took their chips and left town with lots of cash.
Now casinos are often doing separate marker systems but they are linked by faxes and email networks so multiple draw downs will not go unnoticed. They check more carefully about your owning the car dealership rather than just owning part of it.
I had the Venetian call my bank twice even though each check was a cashier's check and I was not seeking a marker account or anything. Its just they worry about home computer color printers turning out cashier's checks even if its below 20k.
The world has changed.
The Seminoles will cash regular government checks such as disability payments but they won't cash anything over a grand even if its from the federal government. Some members of the Immokalee poker breakfast club would spend most or their time at Florida poker rooms but do their banking at other casinos such as Biloxi. The Seminoles were viewed as being too cheap and inefficient.
odiousgambit - almost every casino in Vegas and Tahoe now uses VisuaLimits LLC (NCC Reports) and if you apply for a line they will pull your personal credit and you will see a hard inquiry on there. This hard pull of your personal credit happens instantly and automatically when you apply for the line via VisuaLimits LLC (NCC). Even if you apply for more than one line, even the same day at different properties, NCC will pull your credit separately, with a separate inquiry appearing on your personal credit showing such as:
Ncc/treasure Island LI
Ncc/cosmopolitan Of La
Ncc/wynn Las Vegas
NCC uses Experian. So if you apply for casino credit with any casino associated with VisuaLimits LLC (NCC Reports), you will see a hard inquiry on your Experian personal credit.
I think it is possible that Venetian/Palazzo does not use VisuaLimits LLC (NCC Reports), and therefore might not do a hard pull.
Outstanding info, MDawg. Thanks very much for the report!
Equifax, Experian, and TransUnion are the " major credit-reporting agencies" and outfits such as this NCC, which is either Nationwide Credit Corporation [alexandria va] or Nationwide Credit Clearing [Chicago] , seem to be some sort of specialized similar businesses.
So I am trying to learn something here.
As far as I can glean, these NCCs are collection agencies and as such do generate data that functions as a credit report. Equifax, Experian, and TransUnion do not do collections; NCC types can report to those 3 though and affect your credit. Businesses who use something to get check writing approved would use NCC type services. So it does make sense for the casino credit department to check you out with such as NCC but may not need to, or want to, check with Equifax etc.
I was reluctant to get approved for markers when I was preparing to apply for credit somewhere, I didn't want a record with the majors of casino activity on my credit report. I waited until I knew it was going to be a while before I'd be applying for credit again. After applying for casino credit, though, I found that Equifax and TransUnion at least had no record of any casinos checking in with them.
The distinction I think is important. Note that I may have said something incorrect above and also can't be sure that my experience would be everyone's experience.
PS there is a visual limits dot com website but I'm not sure what to make of it
There are some questions about VisuaLimits LLC (NCC Reports). The one that reports casino credit is the company in San Diego - apparently not the one in Vegas that sells "intelligent table limit signs."
This is the website of the one we want
I am looking right now at my VisuaLimits LLC (NCC Reports) report. It shows each casino where I have applied for a credit line, and each active line that I have. It also gives the bank ratings on each bank account I submitted for verification, and includes info on its average balance (high 5, low 6, etc.), and indicates whether it is a personal or corporate account, and if a business account some notation of whether they were able to verify ownership of the company/account.
Under each active casino credit line, there is even a notation of how much you have pulled out, similar to a consumer credit agency report that indicates "high balance" on a credit card (meaning, what's the most you have ever pulled out). Of course here would also be a notation of any outstanding markers you have, plus any derogatory information if you are past due.
If you go to the VisuaLimits (NCC Reports) website, you will find a "Request Your Free Report" which you are entitled to one free annually, and one anytime you have applied for casino credit and been turned down.
When you apply for casino credit with a casino that is associated with VisuaLimits (NCC Reports), NCC will hard pull your Experian consumer credit, and supply that to the casino for consideration along with their own "NCC Report."
As with all credit bureaus, VisuaLimits LLC (NCC Reports) and Experian do not decide whether or not you get credit, they are merely reports that are used by the casinos in deciding whether to grant your request.
VisuaLimits LLC (NCC reports), is not, as far as I am aware, any kind of collection agency. Rather, it is a credit reporting bureau.
PERSONAL credit: Things may have changed, but I know of people in the past who stiffed casinos and nothing happened to their personal credit. There are a lot of different ways that this may go and the end result of whether or not your personal credit is affected depends on how it goes. For example, if the casino keeps the debt in house and does not give it to an outside collection agency, it might not ever appear on your personal credit, or, even if they do report it, it might depend on the collection agency's practices as far as whether it appears on your personal credit. In some instances the collection might go all the way to court and result in a civil judgment against you, which again, it just depends on whether the personal credit agencies pick up on that judgment as far as whether it will affect your personal credit. If the marker goes to criminal prosecution, I don't think it would affect your personal credit, but then - you'd have bigger problems to worry about anyway than bad personal credit if you did not pay up what was owed to the district attorney, as mentioned in my original blog post.
>If you go to the VisuaLimits (NCC Reports) website, you will find a
>"Request Your Free Report" which you are entitled to one free annually
So I did this! A report came promptly in the mail. Most things about it are clear enough, other things are greek to me . I think I can see why a phone call to the bank is in order as well.