Self-exclusion is when a person voluntarily excludes themselves from gambling activities. This can be done for a variety of reasons, such as to prevent gambling addiction or to limit losses. While self-exclusion can help people control their gambling, it can also have a negative impact on their credit rating.
When a person self-excludes, they are typically prohibited from opening new accounts or using existing accounts to gamble. This can lead to problems if the person has outstanding debts with a gambling company. The gambling company may report the debt to the credit bureaus, which could negatively impact the person’s credit score.
Self-exclusion can also make it difficult to obtain new lines of credit. This is because lenders often use credit scores to determine whether to approve loans. And, if a person has a poor credit score, they may be less likely to qualify for a loan.
Overall, self-exclusion can have both positive and negative impacts on a person’s credit rating. While it can help people control their gambling, it can also lead to problems if the person has outstanding gambling debts.