Here we are going to discuss how online gambling and therefore online casinos affect your credit rating. It is an important topic for many UK players who are looking for credit card casinos via NonGamStopBets.com and here we will provide all the information for them. There are three separate cases that we would like to discuss and reveal. At the moment we can only add that online gambling doesn’t have to be a bad thing and this will not change your credit rating dramatically or cause all kinds of problems.
Gambling and Credit File
The credit rating is there to access how well you can give the money back to a bank. It doesn’t have anything to do with how you spend that money. It is your money so you can use it for gambling, shopping or anything you like. In reality, many people have been gambling and they still have an excellent credit rating.
The only exception is if you are using this method to fund your gambling. The situation is even worse if you have a gambling addiction which can make things more complicated. As you can assume gamblers who have problems with gambling should work on those problems as soon as possible. These can be complicated to solve but this is something you can do.
Online Gambling and Personal Loan Links
Here things are more complicated than you may believe. First of all, there is no direct bad or negative link between getting a personal loan and online gambling. Theoretically, you can get a personal loan easily and there won’t be any issues. But, this will affect your credit rating. As such you will want to do it only when you really have to and decrease the number of times as much as possible. It is designed and it can be useful if you really need the money and a personal loan is the only way you can get it. In that case scenario, there won’t be issues and you can do it.
There are two situations when making credit card deposits in online gambling that can have a huge negative impact. The first one is if you are doing this to fund your online gambling. The bank will see that and they may refuse the loan because they know for what you are taking it.
The second issue is if you had personal loans before but were unable to pay them back at the end of the month. This is a huge deal as you can assume and it can be complicated and problematic for a long period of time. But, this is the case regardless of how and why you are taking the personal loan. If you can’t pay back it due to something else, not online gambling the issues are the same. On the other hand, if you are talking personal loan but you like to gamble and you will always pay back the loan as you should the situation is much better and more beneficial.
We must add that if you don’t pay the loan back the credit rating will get worse and worse over time. Each time when you fail to pay a part of that money the rating will become worse. This can last for a long period of time and it can significantly affect your credit rating.
Once again we can see that irresponsible gambling has a huge side effect. If you play responsibly and you don’t have any gambling issues the situation is much better.
Online Gambling and Mortgage
Here the situation is simple. The lender will have an interview with you and check your bank statements. Usually, 3-6 months of previous bank statements are mandatory to shoe and share. What is interesting here is that the lender will consider how you are planning to use that money. If they see that you want a mortgage to fund your online gambling, it will be declined. Even if you have been gambling responsibly the mortgage can be declined easily. They believe that you will still use that money for gambling online rather for something else. Despite the fact, the real situation is different there is no simple fix.
One problem here is that even if you are paying back the money as you should but you like to gamble a lender can refuse the mortgage. To them, the risk is too high and they can’t be certain enough that you won’t use that money for online gambling, lose it and fail to pay back the money you have to pay back.
One or two transactions to the gambling site won’t be a problem. This is perfectly normal and there are no complications we need to reveal. They are actually looking for regular payments to a gambling provider.
The Final Word
Responsible online gambling will have no effect on your credit report or personal loan. Many players use different alternatives, for example, a good percentage of GamStop users want to know how to use Pay By Phone option for many reasons. If you gamble all the time if you have a gambling addiction this will affect your ability to take a loan. The situation is even worse if you want or need a mortgage. Lenders will usually decline these transactions if you are a gambler which is not fair.
