Online gambling transactions on bank statements

[Anonymous]

I have excellent credit with only a car loan as my only debt. I also have 4 CCs that carry no balances ever. However I have a bunch of online gambling transactions on my last couple months bank statements will that hurt my credit app and possibly be cause for denial for a mortgage loan?

[Anonymous]

I don't think so, as long as you don't have insufficient funds.. I would think it's looked at as going shopping for clothes. I hope this helps

[compassion101]

Where are these from? Are they from regulated sites? Do you live in Nj, NV, or DE?

Either way I doubt very much it will be a problem unless they are for amounts that would raise your spending significantly

[Anonymous]

Yes, very legal sites here in NJ.  Plenty of funds and no overdraws.  I've read in other places that lenders frown on this type of thing.  I am going to be applying for a loan in June along with my fiancee and this is the only thing that worries me.  I hope your right!

[compassion101]

Potential gambling problems would be a concern for a lender, but a couple of $100 withdrawals for an online poker site isn't something they are likely to assume is a gambling problem.

At worst, they might question you about it. Just tell them you saw an advertisement, there was a bonus for dfepositing, and you tried a couple of times with no luck. If you have money left in there than maybe make a withdrawal. An addicted gambler would never deposit $300 and cash out his last $60 and go home, but someone who decides that online gambling was a bad idea would cut his losses like that and never play again. I would stop depositing (or use a less trackable method like deposit cash at the casino) until after your mortgage is approved.

[Anonymous]

I had several withdrawals on my statement from the casino ATM and was not questioned about it. Should not be a problem.