Is it legal to use casino to gain bonus points or rewards on credit cards?
I'd like to know if this scenario is legal:
Walk in a casino and buy chips with a credit card for the maximum limit on that credit card.
Change back all those chips in cash money.
Deposit the cash into the bank account.
Pay back the credit card bill at the end of the month.
This would allow to use the cash as an interest free loan for the whole month and to gain the bonus points/reward given by that credit card.
(4)4 Comments
Sorted by latest first Latest Oldest Best
When I was young, stupid, and drunk, I bought chips on a credit card and I recall when the bill came in there was a cash advance fee, and interest.
I don't know personally, but a few minutes spent on Google seem to indicate that such transactions are considered cash advances.
I found a thread at fatwallet which states that buying chips on a credit card is considered a cash advance.
If you want to research it yourself, I used the following search terms: casino chips credit card cash advance. You could probably narrow down the search results by using casino chips "credit card" "cash advance" as the query.
If you want to farm credit card benefits, there are a few low-cost ways to do so:
Buy wrapped US dollar coins from the US Mint
Buy and resell giftcards from places with high giftcard liquidity (Home Depot is good for this)
If you have time on your hands and like sitting and waiting around, Find a bulletin board where airline mileage nuts hang out and learn how to do mileage runs. You basically take advantage of fare rules to fly in circles and generate frequent flyer miles. I had a friend who did this to pay for a vacation after getting laid off -- he analyzed flight delay stats and picked routes with high cancellation rates and bad weather to get free flights, credits, etc.
After digging around a bit on sites like Foxwood's and Harrahs, it looks like you can't purchase casino chips with a credit card. You must use cash, an ATM, or an in-house credit mechanism such as a pre-purchased card with a line-of-credit (featuring hefty fees per transaction).
Terms of Use Privacy policy Contact About Cancellation policy © freshhoot.com2025 All Rights reserved.