topic Re: gonna put 45k on a credit card! in Credit Cards

gonna put 45k on a credit card!

swpopham — Mon, 22 Oct 2012 15:57:30 GMT

Ive been working with a dealership to buy another truck for our company and they will take a credit card for a truck in full. No extra fees. I called chase today and told them that its going to hit our palliadum card or ink card, witch ever come out to the best rewards. Got a letter saying take advantage of a 15 month 0% single purchase promo so here it goes! lol, figured id get a rise out of the board with this one. I think its a win win situation

Re: gonna put 45k on a credit card!

armbenderc — Mon, 22 Oct 2012 16:01:57 GMT

Re: gonna put 45k on a credit card!

Jazzzy — Mon, 22 Oct 2012 16:02:08 GMT

Go for it. The most I've ever done was an $11k heating/air conditioning system. Boy the vendor argued with us. I'm sure they were afraid we could dispute or something. We explained that we simply wanted the 11,000 airline miles. It went fine and we paid it off before the statement cycled.

Re: gonna put 45k on a credit card!

webhopper — Mon, 22 Oct 2012 16:11:42 GMT

@Jazzzy wrote:
Go for it. The most I've ever done was an $11k heating/air conditioning system. Boy the vendor argued with us. I'm sure they were afraid we could dispute or something. We explained that we simply wanted the 11,000 airline miles. It went fine and we paid it off before the statement cycled.

Go for it dude... I joked with my dealership about charging my new volvo on the credit card just in case we had issues with the NFCU dealer draft.

Re: gonna put 45k on a credit card!

Epcot — Mon, 22 Oct 2012 16:20:54 GMT

Wow, that can add up to a bit of rewards!

Re: gonna put 45k on a credit card!

Anonymous — Mon, 22 Oct 2012 16:29:48 GMT

Sounds good to me.

A no interest loan and rewards. Sounds like a win win!

As long as the $3+k per month car payment isn't a problem.

Do you need a CLI on the card first?

Re: gonna put 45k on a credit card!

Anonymous — Mon, 22 Oct 2012 16:28:02 GMT

if your palladium is at 25k, doesn't that mean you need to pay off 20k in one month? and then 25k with 0% for 15 months?

Re: gonna put 45k on a credit card!

CS800 — Mon, 22 Oct 2012 16:37:20 GMT

@Anonymous wrote:
if your palladium is at 25k, doesn't that mean you need to pay off 20k in one month? and then 25k with 0% for 15 months?

I havent heard this one before on the Palladium. I thought they worked like a regular card with a minimum payment monthly?

Re: gonna put 45k on a credit card!

Anonymous — Mon, 22 Oct 2012 16:43:03 GMT

hahah good for you

Re: gonna put 45k on a credit card!

navigatethis12 — Mon, 22 Oct 2012 16:48:53 GMT

I have thought of this multiple times with a credit card with zero interest. If you cannot pay it off before the 15 months you could always balance transfer to a new card too.

Re: gonna put 45k on a credit card!

djrez4 — Mon, 22 Oct 2012 17:00:57 GMT

I put the down payment for my car on my Discover. The dealer didn't make a peep and I got cash back. In hindsight, I should have put even more on the card at 0% and taken out a smaller loan.

Re: gonna put 45k on a credit card!

distantarray — Mon, 22 Oct 2012 17:00:16 GMT

@Anonymous wrote:
if your palladium is at 25k, doesn't that mean you need to pay off 20k in one month? and then 25k with 0% for 15 months?

A Palladium card's flexible spending limit is 300% the credit limit, he can charge $75,000

Re: gonna put 45k on a credit card!

swpopham — Mon, 22 Oct 2012 17:04:13 GMT

We are going to use the ink card. Its a business expense and I dont want to take the chance of mixing business and personal together. I talked to our CPA, and chase. They both agree that it would be better to seperate. I was just going to use that purchase to up our PD limit but the CPC banker said dont worry they factor your other chase accounts in to everything. I was joking to the wife to bad car dealerships or service work didnt fall on a 5% category but they are capped anyways

Re: gonna put 45k on a credit card!

jsucool76 — Mon, 22 Oct 2012 17:57:55 GMT

The flexible spend limit is the NPSL option that comes with a visa siggy (or world mc), usually anything over your limit must be PIF by the due date.

Re: gonna put 45k on a credit card!

HiLine — Mon, 22 Oct 2012 18:13:26 GMT

Any idea for the reason the car dealership didn't charge you an extra 2% or so for credit card fees? It's a huge chunk of their profits that's being shaved off. Does their car dealership have a special deal with credit card companies or something? It's OK if you didn't ask, just wondering...

Re: gonna put 45k on a credit card!

swpopham — Mon, 22 Oct 2012 18:21:27 GMT

Didn't ask about special deals they had for processing. I found the 2013 tundra crew max platinum 4x4 non flex fuel. That ive been looking at. When he asked about financing, i said im not worried about that, i can write a check or use a CC. He looked and said it will work for that???? Said yep it better or we will have problems. Just webt back and used ink. No problems signed the paperwork and as i left i get a text from chase saying a large purchase for 45,467 just processed reply with 1 if you did this or authorized it or 2 to decline

Re: gonna put 45k on a credit card!

firesoul453 — Mon, 22 Oct 2012 19:10:37 GMT

Thats awesome! I wish I could do that!

Does the Pallaidum even offer cash back though?

Re: gonna put 45k on a credit card!

shakalaka — Mon, 22 Oct 2012 19:14:08 GMT

@swpopham wrote:
Didn't ask about special deals they had for processing. I found the 2013 tundra crew max platinum 4x4 non flex fuel. That ive been looking at. When he asked about financing, i said im not worried about that, i can write a check or use a CC. He looked and said it will work for that???? Said yep it better or we will have problems. Just webt back and used ink. No problems signed the paperwork and as i left i get a text from chase saying a large purchase for 45,467 just processed reply with 1 if you did this or authorized it or 2 to decline

Really nice. Text 1 and we approve 45k for your car.

Have fun with you new car/truck.

Re: gonna put 45k on a credit card!

swpopham — Mon, 22 Oct 2012 19:18:02 GMT

Yes the pd earns points just like the select. Its a business expense had nothing to do about my credit. We all know my wife kills me score wise

Re: gonna put 45k on a credit card!

Anonymous — Mon, 22 Oct 2012 20:06:19 GMT

I am sure the dealership is making what they consider to be fair enough and still cover the 2 %... In reality you may be shooting your self in the foot for the rewards... By paying more then for the truck to cover the 2%..

I have would consider a good deal, invoice(dealer flooring amount) - rebates( public incentives) - hold back(dealer incentives)- retro bonus (factory bonus kick back to dealer).. And then if you are being allowed to charge the amount to a card at that time WOW.

The way I see this is robbing Pater to pay Paul

What ever the case, you must like the deal and truck to be buying it so MY opinion does not matter

CONGRATS that's a BAD A** truck and I am very jealous