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Frequent Contributor
BigDaddy18
Posts: 673
Registered: ‎04-23-2009

Re: What's your highest Credit Card limit?

I can't wait for the 800 only 6 lil points away from 800 on the EQ...


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LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: What's your highest Credit Card limit?

NPSL................................(whatever I want it to be lol j/k) :smileyvery-happy:




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Jimmy9224
Posts: 162
Registered: ‎04-15-2011

Re: What's your highest Credit Card limit?


LS2982 wrote:

NPSL................................(whatever I want it to be lol j/k) :smileyvery-happy:


Haha +1 :smileyvery-happy:
My wallet : Amex Zync NPSL , Discover More $3500, BankAmericard Cash Rewards $1000, Walmart Discover $1400, Chase Freedom $1000, Capital one Platinum $1000, Macy's Store card $100, Amazon Store card $1400, Southwest rapid rewards $5000, Marriot Visa $5000. Barclay Apple $1200
Established Contributor
cashnocredit
Posts: 957
Registered: ‎07-18-2009

Re: What's your highest Credit Card limit?


jamesdwi wrote:

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. 

 

 


The last three cars I've bought were for cash (check).  It's true they don't like currency. Probably too often associated with some sort of money laundering. Try buying a house with currency. Not that you can't but you have to expect close scrutiny by associated LE, IRS.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Established Contributor
cashnocredit
Posts: 957
Registered: ‎07-18-2009

Re: What's your highest Credit Card limit?

[ Edited ]

anybodii wrote:

I couldn't possibly see a bank wanting to give more than $25,000 ( nor have I heard of too many people with higher than this ), what could you possibly buy with that much on a credit card? Car dealers won't let you charge a car on it, they don't want to pay that fee! If I were a bank, I would be willing to give a generous limit, but what if you lose your job. Sure you might make $100,000 now, but what if you have to accept a job for only $60,000, first thing you stop paying is the credit card.. its unsecured.

 

**EDIT** I forgot Banks don't think when they lend LOL, retract that comment about if I were a bank... that's like saying If I was a Senator I would...


There aren't many times one needs a high limit card but there are a few. I had to charter a small air ambulence jet for my mom. It was literally a last minute thing and the charter service only took credit cards. As it was I fortunately had just opened a 25k secured Citi card and was able to negotiate a partial payment on the card and be billed for the rest. It would have been a lot easier if I had a 50k card. Apparently most all the charter services want to be paid with CCs unless you have some sort of longer standing arrangement with them or a prepaid jet card like net jets has.

 


 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Valued Contributor
jamesdwi
Posts: 1,424
Registered: ‎09-16-2011

Re: What's your highest Credit Card limit?

[ Edited ]

buying a house with currency is no problem and will usually net you a discount. I bought a house a year and a half ago, just brought a cashier check to closing no issues, they liked my offer because it wasn't contigent on financing and no last minute broken deals because financing fail though. 

 

Car dealers love loans because they get kick backs nothing as noble as afraid of money laundering just just like the extra money they make off the deal. 

 

 

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Established Contributor
cashnocredit
Posts: 957
Registered: ‎07-18-2009

Re: What's your highest Credit Card limit?


jamesdwi wrote:

buying a house with currency is no problem and will usually net you a discount. I bought a house a year and a half ago, just brought a cashier check to closing no issues, they liked my offer because it wasn't contigent on financing and no last minute broken deals because financing fail though. 

 

Car dealers love loans because they get kick backs nothing as noble as afraid of money laundering just just like the extra money they make off the deal. 

 

 



I've bought houses with cashier's checks as well but they are not currency. A transaction in currency that is over $10,000 requires them to file an IRS transaction report. Many escrow offices will not take currency (they are not legally required to). Checks do not require IRS reporting.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: What's your highest Credit Card limit?


jamesdwi wrote:

buying a house with currency is no problem and will usually net you a discount. I bought a house a year and a half ago, just brought a cashier check to closing no issues, they liked my offer because it wasn't contigent on financing and no last minute broken deals because financing fail though. 

 

Car dealers love loans because they get kick backs nothing as noble as afraid of money laundering just just like the extra money they make off the deal. 

 

 


+1




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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Established Contributor
logan_720
Posts: 608
Registered: ‎02-02-2012

Re: What's your highest Credit Card limit?


LS2982 wrote:

NPSL................................(whatever I want it to be lol j/k) :smileyvery-happy:


Sure :smileywink: Until you get a big fat DENIAL! :smileytongue:

Contributor
BlueHusky
Posts: 193
Registered: ‎04-01-2012

Re: What's your highest Credit Card limit?

I remember my Neiman Marcus card originally had no preset spending limit...but a few months later (my credit score nosedived during college when my utilization hit like 90%) they scaled it down and actually gave me a limit.

 

Currently my highest is Amex BCE with $12,500. Very new, still haven't received the card in the mail, but called and the lady told me the CL. I thought I misheard her so I asked 3 times lol




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