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Does Online Poker affect my credit rating?

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  • 14-10-2010 9:38pm
    #1
    Sandwich1989
    Closed Accounts Posts: 38 ✭


    Hey guys,

    I heard a rumour that making alot of deposits/withdrawels to poker sites can affect your credit rating negatively. can anyone confirm or give me any information on this?


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    #2
    Asha
    Registered Users Posts: 30 ✭Asha


    Hi

    It doesn't affect your official credit rating as they are just transactions on your account, unless they are causing you to go overdrawn without permission on a regular basis.

    However if you are applying for credit (overdraft, loan, CC etc) the underwriters do look at your account to see if you can maintain repayments. It can reflect negatively as it can appear that you may have a gambling problem if they are happening on a regular basis.
    They will look at the whole picture though & it won't be the deciding factor.

    HTH


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    #3
    eagle_i
    Closed Accounts Posts: 89 ✭✭eagle_i


    I heard some discussion on this on Newstalk some time back, and the conclusion from the discussion and the finance expert (can't remember who it was now) was that the banks senses are hightened when they see a regular pattern of transactions with an online gambling service. They tend to watch these accounts a bit more closely, and should any problems arise they are ready to jump. While it does not affect your credit rating until such time as you are a serious defaulter on the repayments, you are flying within radar range, if there is a regular pattern of online gambling.


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    #4
    Sandwich1989
    Closed Accounts Posts: 38 ✭Sandwich1989


    eagle_i wrote: »
    I heard some discussion on this on Newstalk some time back, and the conclusion from the discussion and the finance expert (can't remember who it was now) was that the banks senses are hightened when they see a regular pattern of transactions with an online gambling service. They tend to watch these accounts a bit more closely, and should any problems arise they are ready to jump. While it does not affect your credit rating until such time as you are a serious defaulter on the repayments, you are flying within radar range, if there is a regular pattern of online gambling.


    ok but lets just assume I am not a Degenerate and am just playing with money i have - Lets assume at no point does my bank balance dip below €1000 - and im merely depositing and withdrawing €100 amounts every few days ?


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    #5
    ball ox
    Registered Users Posts: 699 ✭✭✭ball ox


    As previously mentioned it will not affect your credit rating but lenders do look out for these kinds of debits/credits on your account before approving loans.

    A friend of mine was recently refused a loan for various reasons, one of which was "a regular pattern of unfavorable transactions" or something like that. There were debits on his account from Paddy Power. It was not the sole reason his loan application was rejected but it was a contributing factor.


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