CreditGuyInDixie wrote:I realize that eventually you can have billionaires who might drop 20k on a bottle of wine or charter a plane for 50k or buy a 2 million dollar ring (or whatever), but I excluded those from consideration in my first post. I am imagining a person who is really well off (200k income maybe?) -- what situation might he gain a real benefit from having the card with the big CL?
I don't think someone grossing 200k needs a 50k CL. If they spend within their means, they simply don't need a limit that big. The only way it could come in handy is via a MS trick. You mentioned opening a bank account earlier. Another MS "trick" is to buy stuff cheaply using a rewards credit card. Then reselling it via Amazon/Ebay/etc. Some go so far as having stuff manufactured (e.g. selfie stick) in China to resell. I read about it on a MS site, but it sounds to me like they crossed the line into running an import business.
The only other way I can think of using a massive credit line is using a 0% BT offer. In the old days, you could deposit the money in a savings account earning 5%+ interest. Over the course of the BT, you would make a little bit of money. Now you would need to invest the cash in the stock market, probably with some kind of option trading. Perhaps cheaper than margin trading, but still gambling.
It is a stretch, but in theory, you could have an opportunity where you need to purchase something very quickly. For example, using a BT offer to buy a cheap house. Again it would be very risky if you couldn't flip it quickly.
