Who has the biggest credit limit? (it's a boy thing!)

[drron]

I really dont care what my limit is as long as its high enough for me to enjoy travel yet low enough not to cause ulcers.

 

[Duffa]

From reading flyertalk the other thing Amex are paranoid about are transactions which have the effect of a cash advance or transactions with related entities so you have to be particularly aware of these.

Paranoid is an understatement!!
I have an acquaintance who paid 20k bill from one related business to another to get the Amex points.
Result. Cancelled merchant facility and all personal AMEX cards!! Took him 8 months to get a new amex card!

 

[cove]

They demanded that my dentist reverse the charge he put on his business. Fair enough too as he was doing it as a bogus entry.

 

[medhead]

I really dont care what my limit is as long as its high enough for me to enjoy travel yet low enough not to cause ulcers.

Exactly. That's why I quickly reduced the stupid limits they were giving me.

 

[straitman]

Thanks for your posts, straitman and kpc.
It was done, tongue-in-cheek by way of "who's got the biggest!"
It was posted at 1.00 am on a Friday night in the playground section! (think red wine).
And I had no illusions that mine would be anywhere near the biggest, a fact borne out within 15 minutes, by the next poster.

Sorry if you thought this was a serious inquiry.

No worries from me :!:

Maybe I should have included more smilies also :shock:

 

[yohy?!]

Paranoid is an understatement!!
I have an acquaintance who paid 20k bill from one related business to another to get the Amex points.
Result. Cancelled merchant facility and all personal AMEX cards!! Took him 8 months to get a new amex card!

Yes they tend to frown on this considering that it is effectively defrauding them of the points value and using the merchant facility for a 20k unsecured loan.

If it had been a smaller amount in the past usually just a warning was issued with the merchant number blacklisted against the card account.

 

[samiam]

Exactly. That's why I quickly reduced the stupid limits they were giving me.

Ditto- I don't need the limits on offer when it's paid off each month- the credit card saves me from carrying cash and earns points- I don't really want the credit, just the convenience.

 

[russ]

I don't see many biting on this one. perhaps you could have asked who is the wealthiest AFF member?

I'm happy to wade into that one if anyone's game .

In the words of Kerry Packer: I'll toss you for it!

 

[arraitch]

I don't see many biting on this one. perhaps you could have asked who is the wealthiest AFF member?

Sent from my GT-I9000 using AustFreqFly

In the words of Kerry Packer: I'll toss you for it!

Question for russ: does the word "toss", when preceded so closely by the word "member", constitute some sort of Freudian slip?

 

[QF WP]

+1 samiam. I have a number of credit cards and whilst I have high limits on the cards, they were accessed at a time when my income was much higher.

I know a number of wealthy members, but won't divulge...what happens on tour stays there.

 

[cove]

This month I am attempting to pay about 10 times a credit limit through one particular generous points earning card. I have two key dates of 21st and 28th to avoid penalties and a BPay limit of 50,000 a day.
This is quite fiddly compared with cashing a cheque at Westpac but the saving is too big to ignore.
If it proves too hard I can drop it and go Plan B.

 

[NYCguy]

In the words of Kerry Packer: I'll toss you for it!

Double or nothing?

 

[Globetrotter]

My CBA Diamond card has a $34k limit on it but I never carry over any debt from one month to the next. My dilemma is that I've already reached my one million points cap in the six months since getting the card. This means no points earning until January next year when the cap is reset.

When I complained to CBA and questioned why is there a points cap on such a prestigious card especially given ANZ, Westpac, NAB and the likes offer uncapped card options, they responded with "we did not anticipate anyone reaching the one million points cap in a qualifying 12 month period". My response, "well if that's the case, why set a cap limit at all?". What a crock of cough.

Is anyone else in the same boat as me with the CBA Diamond card? If so, were you able to get the cap lifted? I use this card so frequently it would be pain to change all my direct debits etc over to another card.

I'd appreciate any advice or suggestions on how to approach CBA about this situation.

Thanks

 

[trippin_the_rift]

Globetrotter: the 4 big banks have fairly poor rewards offerings. You will need to venture into hsbc/Citibank/Amex world to make the most of your spend.


Sent from my iPhone using Aust Freq Fly app

 

[cove]

Globetrotter capped cards are of no value to you once you reach your cap limit. If you have a partner then you could get them one so your true limits become 2 million.
American Express Ultimate and CitiSelect would be where I would take you to depending on the types of expenses you have to charge for the rest of the year.
Citi back room can be a bit ugly getting your account set up properly but a Visa earning 1.33 points to SQ Kris is a blast for $700 a year.
Amex Ultimate is the workhorse card that is a smart choice for 1.5 points a dollar to Qantas if that is where you want your points to land. Strangely the Amex Centurion card is capped at 500,000 points with a fee of about $4,300.

 

[Globetrotter]

Thanks cove and trippin_the_rift for your advice.

 

[Blackadder]

St George 24,000
ANZ Visa/Amex 19000
BOQ Visa 9000
HSBC Visa 8000