How can excessive gambling damage one’s credit score?

[Kennysplash]

When someone has a gambling addiction, they may take out loans or max out their credit cards in order to fund their habit. This can cause their credit score to plummet, making it difficult for them to get approved for loans or other forms of credit in the future.
The damage to their credit score can also have a ripple effect, impacting their ability to rent an apartment, get a job, or even get insurance.

 

[swift]

I feel If a person has a history of unpaid debts or high credit card balances, it can impact their chances of getting approved for loans or credit applications. Lenders may view excessive gambling as a sign that the borrower is not responsible with their finances.

 

[Abigael]

Gambling addiction can truly end up hurting your credit score. There is a high chance that you will take out loans to gamble or max out your credit cards. Of which you won't have enough money to pay it back hence you will get stuck in bad debt and make your credit score negative that you won't secure financial assistance in future.