topic Re: Down payment towards CSP spend? in Credit Cards

Down payment towards CSP spend?

Anonymous — Thu, 09 Apr 2015 02:51:53 GMT

Not sure if this has been discussed here or not before. I am looking to apply for a CSP but it will be a bit of a stretch to hit the $4k spend. I have read before that certain payments and cash-like transactions don't count towards the total spend.

I am looking to purchase a new Ford Fusion. If I put some portion of that on the CSP, would that count towards my bonus spend?

Re: Down payment towards CSP spend?

Anonymous — Thu, 09 Apr 2015 02:54:04 GMT

Yes. No problem if the transaction is made at a non-financial institution.

You are not even making a cash like transaction, you are buying a physical good (car)

Re: Down payment towards CSP spend?

Anonymous — Thu, 09 Apr 2015 02:55:55 GMT

I appreciate you letting me know. I must be mis-remembering something I read a while back. Thanks!

Re: Down payment towards CSP spend?

Anonymous — Thu, 09 Apr 2015 03:17:05 GMT

@Anonymous wrote:
Not sure if this has been discussed here or not before. I am looking to apply for a CSP but it will be a bit of a stretch to hit the $4k spend. I have read before that certain payments and cash-like transactions don't count towards the total spend.
I am looking to purchase a new Ford Fusion. If I put some portion of that on the CSP, would that count towards my bonus spend?

That actually counts and if you can put all on it and meet the spend one time, that is even better..

Re: Down payment towards CSP spend?

Anonymous — Thu, 09 Apr 2015 03:16:43 GMT

@Anonymous wrote:
Yes. No problem if the transaction is made at a non-financial institution.

You are not even making a cash like transaction, you are buying a physical good (car)

This! It's just a purchase. Relatively few things won't count: a real cash advance or a balance transfer for example. Some things like buying travelers checks (with an MCC of a financial instituation) may not generate rewards, but might still count towards meeting spend.

Re: Down payment towards CSP spend?

noobody — Thu, 09 Apr 2015 03:21:50 GMT

the question here is how much is dealer willing to take credit card as payment, as he is likely to loose 1~2% of the amount he charge

Re: Down payment towards CSP spend?

drjones — Thu, 09 Apr 2015 05:13:20 GMT

Just a couple weeks ago, I had to replace my motorcycle after my old one got run over in a parking lot, and I put $2500 towards the down payment on my card no problem. It counts towards the bonus spend and as a regular 1% points purchase.

I would call the dealer ahead of time and just ask how much they'll accept on a credit card, they should tell you up front. I wouldn't make that question part of the negotiation the day you plan to purchase, they may try to get more out of you if you're paying by card.