What effect can excessive gambling have in credit score?

[Kennysplash]

People who gamble more than they can afford to lose may find themselves unable to pay their bills on time. They may also start to use credit cards to fund their gambling, which can lead to high interest rates and fees.
In some cases, people may even borrow money from family or friends to fund their gambling habit. All of these factors can lead to a poor credit score and make it difficult to get loans, credit cards, and other forms of financial assistance.

 

[magnus2022]

You are absolutely right! Gambling can be a terrible addiction. A gambler who is highly addictive don't pay attention to all this financial stuffs except to get money and use it for gambling. Addicted gamblers don't even pay attention to the rate of interest when borrowing for gambling. They are only thinking of playing and winning.

 

[swift]

i feel Excessive gambling can have a negative effect on credit scores in multiple ways. If gamblers use credit cards to fund their gambling, it can lead to high credit card balances and increased credit utilization, which can lower a credit score. Gambling losses can also affect one's ability to pay their bills on time,

 

[Abigael]

This is very true. Too much gambling can lead to a negative credit score which will affect future attempts to get financial assistance from any loan lending institution. Most gamblers start off with their own income but end up taking loans to keep up their gambling activities. Most of them are unable to pay back this loan and that causes them to get stuck in bad debt and a negative credit score.