UrbaneGent

Hey Everyone - I tried to find the answer but couldn't. Hoping maybe someone would know.

I have the Chase UR and want to charge more than my credit limit. It is currently at $23K and I want to make multiple one time charges of $70K over the next year. If I pre-pay it on the card, will Chase accept the charge (if I have a negative $70K on the account, will it approve a charge for the $70K?). I have a Merrill Lynch "super card" that gives me 5 points per dollar with a $100K line, but would rather use the UR card since it doesn't allow me to transfer the points to a loyalty program.

Thanks!

UG

StartinSanDiego

Hmmm, that's an interesting dilemma.

Is it a Bold (charge card with soft guidelines for CL) or a Plus (Credit card with hard CL limit)?

I, personally, would split the charge up to not exceed my CL, and/or ask for a CL increase. I would not go over my credit limit by 50K, even if it shows a negative balance. 70K in monthly charges is quite a bit, compared to the average Joe making 50K a year. I would imagine the fraud alerts and financial overlords might want a peek at your finances if you suddenly start such large charges out of the blue. Have you been making smaller charges? Is the card new?

I have a largish, reoccurring monthly expense. I usually will go to 2/3 of the CL, and I keep high CL's on one card from every bank, even though that has an overall effect on my instant approvals due to maxed out overall credit lines.

VABuckeye

Call Chase but I think the answer will be no.

UrbaneGent

Thanks for the responses - I actually called and was told that if I have a charge that exceeds the credit line (now it's not going to be monthly, maybe quarterly) and there is a credit of whatever - the card has to be cleared out to 0 and then it would have to be a payment of:

The credit line at $0 + payment of the total amount charged = total amount to be charged

I have to call them and tell them and they WILL approve the charge. It can't be the amount charged minus credit line. It is a Chase SP. They also told me they will increase the credit limit after 6 mos review of the account and credit standing, etc.

Now, for example, the Blackhawk games. I charged for last week's game, it hit the credit line, I transfered the payment, zero'd it out and charged for Monday's game....crossing fingers it's for the final win!

Thanks!

UG

Happy

Be careful playing the Sport Betting with your Chase card... Banks in general dont like cards being used for online gambling.

VABuckeye

Sarcasm?

I think he simply bought tickets to the game.

JustAnotherGuy001

for 70K

VABuckeye

Where did he say that he charged $70k for that transaction? I must have missed that part.

Happy

May not be 70K but definitely sounds like above 23K of current credit line. How many tickets you can buy with 23K?

"Hit the credit line" and then transferred the payment to zero it out, and charged again. That is the mechanism Chase told him to do should he want to charge ABOVE the credit line of the card, currently at 23K.

Do you really think buying tickets would need to be "zeroed it out", on a card currently with 23K limit?

It is so obvious especially in the context that follows. I am surprised you miss it

KRSW

Not sure what they were selling for in Chicago, but Game 7 tix for Tampa were running $10k+ for 1st row seats... each. Nosebleeds were running $1k+. Lower bowl was ~$7k.

FindAWay

Tickets for Game 6 in Chicago were similarly priced - i.e., $2k to $10k+ per ticket.

Though, I agree it is unclear whether OP is talking about betting on or tickets to the game.

Happy

Just because the tickets are listed at such prices on the broker outlets, do not mean average joes are buying such. Those tickets face values are in mere hundreds.

I doubt people who sit in the front rows would even need to find out if their credit cards can handle the purchases if they are going to indulge themselves in such expensive entertainment

FindAWay

Of course not...because "average joes" are not the ones filling the stands of Game 6 of the Stanley Cup Finals.