Open123 wrote:
LS2982 wrote:
Open123 wrote:Just recently, Chase CSP started me out with 22.5K.
Like most, all I need is about $5k per card, which is more than enough on a given month. Most cards with too high a limit, I'll request a CLD just to keep from hitting the declined for "too much open credit" reason.
Thats still an awesome CL and Chase feels so comfortable giving it to you!
I don't think it's me. I think Chase is under some pressure to hit some quotas for Q1.
I've noticed they've become much more lenient with recent approvals and generous with initial CLs. There were several who were applying with me at the same time, and the lowest CL offered was $18.5K.
So, I'm not sure what's going on. I'll wager that if anyone has an AmEx revolver, Chase will approve with at least 20% over the AmEx CL. They did that with out business accounts too.
Trying to steal business from AMEX.................hmm.....
Wallet: FNBO DISC 7.5k, , Chase Freedom 3.3k & Slate 3.3k, AMEX BCP 7.5k & AMEX Hilton Surpass 5.5k & AMEX Zync NPSL, Walmart 3.3k, CapOne AU 1.5k
anybodii wrote:I guess I couldn't really speak for every car dealer. I wonder if they would have offered a special deal either, why not just pass the savings off to you directly? I've seen a few used dealers put ads for allowing you to use your credit card, but most are shady dealers. I wonder what a chargeback would be like on that...
If they take credit cards they can take for the full purchase price, they just have to be motivated to do so.
No don't expect any special treatment Car Dealerships HATE CASH, and they probably hate credit cards even more, sure they will do it to make the downpayment that gets them a better APR from lenders (but that only pads there bottom line), and safer than checks they don't want to let the mark (purchaser) off the lot without a car. They make a lot of money off financing of cars, they get 1-2% of the purchase price they don't even work very hard to get more. If they up your APR in the process they can make 2-3% more without a problem. If you use a credit card you are stealing there lunch, by cutting out the loan kickbacks and then making the dealership pay for the transaction fee of up to 3%.
My dad bought a car earlier this year, all cash purchase, you would think that this would make a smooth transaction, nope. Had to walk away 3 different times to get anywhere near decent deal seemed like the dealership didn't even care we were paying cash they did everything possible to not make the sell, Went to 2 other dealers and was treated the same or worse.
American Express Blue Cash Everyday - 10,000. I wanted to see if I could get to 25,000 but the increase button seems to be broken 
Open123 wrote:I've noticed they've become much more lenient with recent approvals and generous with initial CLs. There were several who were applying with me at the same time, and the lowest CL offered was $18.5K.
So, I'm not sure what's going on. I'll wager that if anyone has an AmEx revolver, Chase will approve with at least 20% over the AmEx CL. They did that with our business accounts too.
They had no problem telling me they wanted me to move some credit from the Chase Freedom (3000) I have to be approved. Even then I would only get 5000 for the Sapphire Preferred. My history is young though so that could be it
jamesdwi wrote:
If they take credit cards they can take for the full purchase price, they just have to be motivated to do so.
No don't expect any special treatment Car Dealerships HATE CASH,
My dad bought a car earlier this year, all cash purchase, you would think that this would make a smooth transaction, nope. Had to walk away 3 different times to get anywhere near decent deal seemed like the dealership didn't even care we were paying cash they did everything possible to not make the sell, Went to 2 other dealers and was treated the same or worse.
I do not know how much the vehicle cost, but if a transaction involves more than 10,000 of cash then a business (or individual?) must submit a form 8300 to the Internal Revenue Service. It is a minor annoyance so that is probably another reason, besides the financing, that they did not want to take it.
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