Is gambling automatic grounds for loan rejection?

Hammer89

I'm looking for a loan off the Credit Union but some gambling transactions will show up on my bank statements - we're talking the occasional €25 deposit here, not obscene amounts on a daily basis.

Anywho, I'll be bringing up these statements next week but I'd like to know whether or not I could be rejected based on these transactions.

I've heard that gambling is a big no-no, but I don't have a clue.

LDN_Irish

I was told my a lad in BOI when I opened my account that even 1 deposit of 10 euro to Paddy Power for the Poker would result in a loan refusal. That was about 5 years ago.

Treepole

Hammer89 wrote: »

I'm looking for a loan off the Credit Union but some gambling transactions will show up on my bank statements - we're talking the occasional €25 deposit here, not obscene amounts on a daily basis.

Anywho, I'll be bringing up these statements next week but I'd like to know whether or not I could be rejected based on these transactions.

I've heard that gambling is a big no-no, but I don't have a clue.

It won't matter a jot to the credit union. If you have funds with them you should get a loan no problem.

The One Doctor

It'll make a difference for a mortgage approval anyway.

Treepole

Hammer89 wrote: »

I'm looking for a loan off the Credit Union but some gambling transactions will show up on my bank statements - we're talking the occasional €25 deposit here, not obscene amounts on a daily basis.

Anywho, I'll be bringing up these statements next week but I'd like to know whether or not I could be rejected based on these transactions.

I've heard that gambling is a big no-no, but I don't have a clue.

Also, just get a paypal account. Transfer the money from your bank to Paypal, then Paypal to Paddy Power.

c_man

Treepole wrote: »

Also, just get a paypal account. Transfer the money from your bank to Paypal, then Paypal to Paddy Power.

Also I think you can top up your online account in store with cash.

Mr. CooL ICE

Mod:

Moved to Banking & Insurance & Pensions. Please read the charter before posting.

coylemj

It can't be said often enough, no two credit unions are the same.

Whether the gambling transactions will affect your chances of getting a loan all depend on the local policy. For all we know, the manager of the OP's CU could be an avid racing fan who takes a week off every March to go to or watch the races in Cheltenham. We just don't know so telling the OP what reaction he will get is total guesswork.

Nonoperational

LDN_Irish wrote: »

I was told my a lad in BOI when I opened my account that even 1 deposit of 10 euro to Paddy Power for the Poker would result in a loan refusal. That was about 5 years ago.

That's obviously not true anyway.