Gambling and CR

Jambo5

Does opening multiple on-line gambling accounts effect a CR?

If so...how badly will this effect me?

When applying for a mortgage, and bank statements are required how far will they look bacj?
TIA

bamgbost

keen to know the answer to this myself!

g6jns_2

bamgbost wrote: »

keen to know the answer to this myself!

Just don't do it. You know it is a mugs game.

Jambo5

Yeah I know its a mugs game. Just wonder if it can hurt CR.

lulu_92

I don't think it can, unless every single thing you buy with a debit card is on your credit file (if that's so I'm screwed just because of Primark!)

The only thing I know is that you should never deposit using a credit card, although I know many people who use PayPal to get around that.

jadex

Jambo5 wrote: »

Does opening multiple on-line gambling accounts effect a CR?

If so...how badly will this effect me?

When applying for a mortgage, and bank statements are required how far will they look bacj?
TIA

open separate bank account for betting (I assume matched betting as it is the only way to make sure money from gambling) from different banking group;

only some companies record search on your CR (like Bet365) and it is identity check search not a credit one;
and banks do not see who searched your CR but the number and type of searches, don't believe all the hype flying around

Red-Squirrel_2

I've got loads of online gambling account, couldn't even count them, as I opened them all to get free money through Quidco. I've never had any trouble getting credit, and there's no reference to their existence on any of my credit files. I don't deposit to them, but they are still open as every now and then they throw you some free cash to try and draw you in!

boo_star

As others have said, they won't show on your credit file, they're not offering credit so why would they?

I suppose it's possible that some offer a line of credit but I've never heard of one offering this and if they did you'd know it.

jadex's advice on opening a separate account with a different bank is good advice though, some (possibly most) banks view it as risky behaviour and may decline credit as a result.

Not great if you're looking for a mortgage or loan from them and they offer good rates.

[Deleted User]

Spread betting etc will get you credit scored, and will report the line of credit on your file each month. Back when I was student with a 1k limit at SpreadEx I never had any problems getting or maintaining credit from banks, including Natwest and Nationwide who threw it at me.

I wish I did have problems... would've taught me a lesson sooner!

In terms of Mortgage applications some lenders may demand *every* bank account - technically if you hide the gambling account you're lying and they could (in theory) pull the mortgage before completion if they found out - I know I wouldn't sleep well until the day after completion if I was playing that 'undeclared account' game!

Although a separate banking group is all well and good - many banks report even the cash card accounts to the CRAs - so a search of your file will show you have accounts with banks X, Y and Z (although my understanding is lenders can't see the names of fellow lenders, they can see the account type and so add up how many accounts vs. declared accounts). Then lender says "hold on, you never showed us the statement or declared bank Z". Also sight of money out of the account you do declare to mort company (assuming you use online banking) could be questioned - unless you use a name of a relative etc and they don't follow up in any detail whether it did go to a relative.

In you really want to matched bet etc, I'd say use Skrill and a prepaid card of some kind - there are some free ones out there (ffrees for example). Technically that's also not a bank account, but again you could be skating on thin ice with mortgage companies. Depends on the strength of any application you make (job security, income, LTV etc etc) I guess.

From my experience they generally look back 3 months, possibly 6. It has been known for adverse/'nearly prime' mortgages or those at building societies which don't do credit scoring to require up to 12, but that's supposed to be the exception rather than the rule.

Jambo5

Just seen that when I checked my CR with Noddle that the online bookmakers are searched for under
'Money laundering'.
So it does go on your credit file. And it states that 3rd parties may be able to see these searches.

SO if I went for a mortgage and they seen a dozen searches by bookmakers is this going to effect my chances?

Will they think I have a gambling problem, when in reality I was getting the free bet offers??

Also its says they stay on report for 24 months.
How long would any body recommend before I actually applied.
I have read banks check last 6 months of bank statements?

Does any body think this will create another hurdle into getting a mortgage?

I take full responsibility for my actions. I have had PDLs in past to. But lf on line gambling and PDLs can seriously affect your CR and future(well when you grow up and realise that you need a house), should they not come with a MASSIVE WARNING SIGN just like cigarettes??
TIA