Casino Line of Credit

[amypintx]

Could someone who has used a casino line of credit provide some insight? I’ve read their info page online and know that you have to apply ahead of time and the min to pre approve is $5K. My questions are 1) Is there a fee for this? 2) How does it actually work once you’re on the ship?  3) Could both my husband and I access the same line of credit or would we each have to do our own? 4) Do you have to use the whole $5K?  5) Any pros/cons you’ve experienced?

We normally sail Carnival and haven’t cruises NCL in over 10 years so I’m trying to figure out all the differences. On Carnival you can just charge to the room for free so it’s easy. I know that NCL charges 3% or the ATM charges $6 in addition to whatever your bank charges. We’re sailing out of Rome this summer and spending the week before in Venice/Rome so I don’t want to take a bunch of cash with us. Wondering if the line of credit is a better option. 

 

Thanks for any info!

[UKstages]

i don't have a line of credit with NCL, so i can't answer those specific questions. but i can focus on the "charge to the room" part of your query.

 

yes, it's true, there is a 3% fee. elite players get that convenience fee waived and if you have strong play, you can ask for the fees to be waived even without elite status. but there is no guarantee.

 

many people have credit cards with loyalty and reward programs, including NCL's card. and when you calculate the benefits associated with those cards, the 3% fee is either a wash or the value of the benefits actually outweigh the convenience fees.

 

also important to note: when charged to your cabin folio, the charge goes through as a purchase, and not a cash advance, so there are no extra charges unless you are carrying a balance and paying interest.

[Big_G_111]

I have used a line of credit on NCL in the past, so I guess I can chime in.

 

1) There is no fee for using markers.

 

2) The nuts and bolts of using your line of credit:

 

Hand your cruise card to the dealer and ask for $X of credit. The pit boss will pull your info, then authorize the dealer to give you chips. A few minutes later, the pit boss will present you with a marker to sign. This is, in effect, a check you are writing to NCL, which they agree to sit on for the duration of the cruise.
 

At the end of the cruise, you are expected to “settle up” your outstanding markers at the cage, buying them back with your extensive cash winnings, or, more likely, by writing them a standard check in exchange for the physical markers. If you fail to or forget to settle up, NCL will deposit the markers against the checking account used to establish the line of credit. 

3) You’d likely each need your own line. If you typically gamble together, you could have just one of you with a line to buy chips, and then you all could divide them however you choose.

 

4) You certainly do not need to use your entire line. I do suspect they would get very irate if you were taking out markers for $20 or even $100, due to the paperwork involved. I would suggest $500 or $1000 would be appropriate increments. 
 

5) One con that I experienced was that I lost track of how many markers I had taken out, so I was short $1000 when I went to settle up. Now, the markers do clearly indicate the table and time of issue, so they were able to jar my memory that I did, in fact, take out a marker at 130 AM at the blackjack table. “Oh! I’m the idiot!”
 

I now always take a photo of each marker immediately after signing it, to avoid future embarrassment. Your mileage may vary on that point, depending on your drink package usage. 🙂

 

 

[amypintx]

Thanks @UKstages and @Big_G_111 for the info! This is very helpful.