Does Gambling effect credit rating?

weeloudawg

HI,

I have noticed a few of the sites I use for poker and sports book have been running an identity check on my credit file. Ofcourse I have no issues with this as its law but do lenders see it was an identity check for a gambling site?

jonesMUFCforever

To answer your header - yes gambling can effect your credit rating especially these days if you apply for a mortgage - where more scrutiny is done of your finances than say a personal loan or credit card application.

john1002

to answer your specific question, then no identity checks have no bearing on your credit file or rating and no companies do not see who is undertaking the check, they also do not enter into any credit scoring algorithm that a company may use.

What might effect your mortgage application is affordability and them wanting to know the ins and outs of your bank statements which I assume show gambling transactions.

John

GingerBob_3

john1002 wrote: »

to answer your specific question, then no identity checks have no bearing on your credit file or rating and no companies do not see who is undertaking the check, they also do not enter into any credit scoring algorithm that a company may use.

What might effect your mortgage application is affordability and them wanting to know the ins and outs of your bank statements which I assume show gambling transactions.

John

The thing to do here is to have a separate account for your gambling and keep it in credit. Then when the mortgage provider snoops on your detailed finances they won't see it. At the moment, credit checks don't reveal gambling activity, but maybe the CRAs are working on that one?

meer53

GingerBob wrote: »

The thing to do here is to have a separate account for your gambling and keep it in credit. Then when the mortgage provider snoops on your detailed finances they won't see it. At the moment, credit checks don't reveal gambling activity, but maybe the CRAs are working on that one?

The separate account will still show on the credit file. A mortgage lender may ask for statements for that account too.

tabletop2

I like to pay bingo on several sites, I use my bank account at the moment, but want to stop doing this as I want to be able to get a bigger mortgage in a year or so, I don't have any dept & pay all my bills on time, I would just like to keep my gambling private now

Can anyone advise me please

twhitehousescat

yes , pay cash at local bookies

scaredofdebt

Unless you have a gambling problem and are a heavy user, it won't have a material affect on your credit rating. However, if I was going to be applying for a mortgage I would stop the gambling (or use other accounts ie Paypal to fund) as you want to absolutely reduce the risks of anything affecting your application.

Willing2Learn

tabletop2 wrote: »

I like to pay bingo on several sites, I use my bank account at the moment, but want to stop doing this as I want to be able to get a bigger mortgage in a year or so, I don't have any dept & pay all my bills on time, I would just like to keep my gambling private now

If it were me, and I were to gamble, I'd use a prepaid card which I'd top up as per my budget...