topic Re: One Time Large Charge 25K AMEX or CSP? in Credit Cards

One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 22:38:57 GMT

I have a one time large expenditure for my business in the neighborhood of 25k. Its not a car or anything like that. I was wondering if I should use the business AMEX TE card with a 25k limit (problem is that I haven't run a single charge on the card since I got it two weeks ago) or should I use my CSP card? I want to build a good relationship with AMEX and I was worried since its a new account they may not like such a big one time charge. Any advice is much apprecaited.

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 22:40:14 GMT

Call and ask.

Re: One Time Large Charge 25K AMEX or CSP?

DavidZeng — Tue, 18 Feb 2014 22:40:36 GMT

@Anonymous wrote:
Call and ask.

Re: One Time Large Charge 25K AMEX or CSP?

DavidZeng — Tue, 18 Feb 2014 22:42:39 GMT

Some member reported got fraud alert with first AMEX purcahse at &500ish, amex called him immediately.

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 22:45:53 GMT

@Anonymous wrote:
I have a one time large expenditure for my business in the neighborhood of 25k. Its not a car or anything like that. I was wondering if I should use the business AMEX TE card with a 25k limit (problem is that I haven't run a single charge on the card since I got it two weeks ago) or should I use my CSP card? I want to build a good relationship with AMEX and I was worried since its a new account they may not like such a big one time charge. Any advice is much apprecaited.

Do you have a business CC?

Re: One Time Large Charge 25K AMEX or CSP?

NonSufficientFunds — Tue, 18 Feb 2014 22:46:51 GMT

I think the idea of putting a $25,000 charge on a newly issued card, will probably trigger a Financial Review.

If you are willing and able to explain this large expenditure to the satifaction of AmEx, then... that's what the large credit line is for.

Please let us know how it plays out.

Re: One Time Large Charge 25K AMEX or CSP?

09Lexie — Tue, 18 Feb 2014 22:50:56 GMT

@DavidZeng wrote:
Some member reported got fraud alert with first AMEX purcahse at &500ish, amex called him immediately.

Must have been an anomaly- they never call me

Re: One Time Large Charge 25K AMEX or CSP?

grinlikechelsea — Tue, 18 Feb 2014 22:53:44 GMT

@09Lexie wrote:
@DavidZeng wrote:
Some member reported got fraud alert with first AMEX purcahse at &500ish, amex called him immediately.

Must have been an anomaly- they never call me

Same here, and I have made some fairly substantial charges given my reported income (reimbursable expenses).

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 22:53:48 GMT

I have lines of credit for the business but this is my first true business card, I have been using my personal AMEX platinum or CSP simply becasue it was easeir and I racekd up MR points.

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 22:56:36 GMT

@Anonymous wrote:
I have lines of credit for the business but this is my first true business card, I have been using my personal AMEX platinum or CSP simply becasue it was easeir and I racekd up MR points.

As long as it is a business CC, just call them up and let them know your intent. They would probably appreciate the heads up. (since this is a large purchase bringing you close to the max limit, and your first one so large on a new account)

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Tue, 18 Feb 2014 23:10:00 GMT

If it's a business expense, put it on your business card. As others have said, call AmEx first. I did something similar with my AmEx Platinum (5 figure charge within weeks of getting approved) and the charge went through just fine, no FR.

Re: One Time Large Charge 25K AMEX or CSP?

clocktick — Tue, 18 Feb 2014 23:13:10 GMT

I'd go for the one that gives the most rewards that benefit me. With either card, I would call ahead of time though. If you want, maybe you can split it 50/50 or some other way.

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Wed, 19 Feb 2014 00:21:00 GMT

Thank you all for the fantastic and quick responss. I guess splitting it never crossed my mind that's a great idea! I will call both let them know, split the charage and report back here how if goes. Thanks again.

Re: One Time Large Charge 25K AMEX or CSP?

newUser0 — Wed, 19 Feb 2014 01:44:08 GMT

@09Lexie wrote:
@DavidZeng wrote:
Some member reported got fraud alert with first AMEX purcahse at &500ish, amex called him immediately.

Must have been an anomaly- they never call me

+1 to Lexie

I got a new PRG card, activated, with in few minutes I charged 2.5K No call ..

Re: One Time Large Charge 25K AMEX or CSP?

Anonymous — Wed, 19 Feb 2014 01:47:41 GMT

It honestly depends on whether you have established a spending pattern with that lender.

If you have not, then chances are they will be calling you for large purchases. If spending xxxx amount is within your normal spending pattern, then they won't bother you.

Same logic for locations where purchases are made.

Re: One Time Large Charge 25K AMEX or CSP?

youngandcreditwrthy — Wed, 19 Feb 2014 03:28:56 GMT

Amex always calls me when I travel, even when I call them in advance. One time my BCE got denied while shopping in NYC, and my Delta Gold worked... but they had me answer all kinds of questions and were BLOWING up my phone with Fraud Alert Texts and phone calls! They were on that s****!

Anyhow, you aren't supposed to really put business expenses on a personal card or vice versa... at least I don't think you are.. I'd say just charge on Amex and PIF, I'm certain Amex will like it's merch fees HAHA I'd just pay it like within a few days if possible.

Re: One Time Large Charge 25K AMEX or CSP?

Omnipotent — Wed, 19 Feb 2014 04:38:59 GMT

You can push the payment first and then make the purchase with your Amex.

Re: One Time Large Charge 25K AMEX or CSP?

Networth — Wed, 19 Feb 2014 06:27:40 GMT

@Omnipotent wrote:
You can push the payment first and then make the purchase with your Amex.

Be careful doing this, they do not like it.

Re: One Time Large Charge 25K AMEX or CSP?

Creditaddict — Wed, 19 Feb 2014 06:34:09 GMT

Just put it on Amex, if you got an opening $25k line and want to build that relationship then putting that charge on it and then paying next month puts you in FAB position for your 3x cli at 61 days!!!

Re: One Time Large Charge 25K AMEX or CSP?

Creditaddict — Wed, 19 Feb 2014 06:35:47 GMT

But since it is 1 purchase and you know the vendor call and they will notate it so it will be gravy for you to do it