A man’s online gambling habit may cause him to default on his debts, but not necessarily the money that he owes.
If you have an online gambling account, you’re more likely to get defaulted on your gambling debts than if you have no such account.
The biggest factor in defaulting on your online gambling bill is that you’re using an incorrect credit card.
According to a study conducted by financial services firm Equifax, more than one in five Americans use an incorrect card and spend more than $2,000 on online gambling each year.
Equifax estimates that this is the equivalent of $4,000 per person each year in fees and interest on those accounts.
If you’re struggling to make ends meet online, here’s how to reduce your online gaming debts to an acceptable level.
How much does a default online gambling payment cost?
While the default payment on your gaming account will vary depending on the amount you’re making, a basic default payment of $1,000 is generally the amount that you can’t afford to pay back.
If your gaming debt is $1 million, you’ll have to pay $5,000 to $10,000 in debt.
And if your gambling debt is more than the amount of your current credit card debt, you may have to deal with a default charge of $3,000.
Payment of the defaulted amount on an online gaming account requires that you contact Equifax and request a refund of your initial payment.
You may also have to make other payments on your credit card to pay the outstanding amount.
The total amount of the debt can vary, depending on what type of credit card you have.
To make the most of your online gambling experience, you should plan ahead.
Check your credit reports, make sure that your credit cards are in good standing, and don’t forget to keep up-to-date on any potential defaulted accounts.