Originally Posted by
Milesbuilder
Welcome to FT
Thank you!
Originally Posted by
Milesbuilder
I think you will find that as you start to charge and pay off items your credit limits will start to move up very quickly.
I actually have no debt of any kind and never leave a balance on a CC. My weak credit rating is due to problems in the past, and also not having a mortgage. I understand that the top-tier CCs are mainly only available to people with mortgage history.
Originally Posted by
Milesbuilder
It is not uncommon to have credit cards with limits of up to $100,000 and some cards have no limits at all.
Wow, that would be fantastic! I could easily charge $100k a month in biz expenses, and pay it in full.
Originally Posted by
Milesbuilder
I own a business too and run a lot of my expenses through my corporate reward cards. You will be flooded with points and the banks will LOVE you if you pay off early.
That's what I want to do!
Originally Posted by
Milesbuilder
I often maker interim payments on line to free up credit so I can charge more.
Right, I just confirmed that I'll be able to do that. In fact my current CC gives me 1% cash back, so what I'll do is send over a huge deposit ($1mil) and charge it right away and pocket the resulting $10k.
Originally Posted by
Milesbuilder
One item to consider is once interest rates start to go up again, you may be better off holding on to your money and paying on the due date so you can earn interest on the float while the funds sit in your bank account.
I'll never leave a balance on it.