FlyerTalkUserName

I have a few large equipment purchases ($200k+) coming up for work that I'll be able to put on a credit card and it looks like Chase is the right option for me. Will use the points for a mix of Southwest Companion trave, random hotel bookings, and travel abroad. Does anyone have experience trying to get one-time authorizations for expenses like this that will put me WAY over my limit? I can get the money deposited to my account prior to the transaction and prove to Chase I have the funds to cover. Could I deposit this money to Chase ahead of time and make my account positive? I'll probably have to run it as 4 or 5 separate $50k transactions so I'm looking to split it up across multiple Chase cards as well.

P.S.-I'm doing this with Chase because Delta appears to be the only airline that gives you status through pure spend. Delta's route options out of TPA aren't good since most everything is through Atlanta and upgrades seem to be non-existent there. Feel free to chime in if any of the above is incorrect. I know I can count on FTers to do that, haha. Thank you!!!

FlyerTalkUserName

Update on this. I called the credit card company and talked to three different people at Chase. The response I got was the same:

Person at Chase: "We won't stop you at your credit limit, and we'll let you go above it, but we can't say exactly when we will stop you. But we could do a hard pull and request a credit limit increase."

Me: "My current credit limit is $20k and I want to put a $250k transaction through."

Person at Chase: "Oh, yeah we can't help with that."

Me: "Do you offer any additional products that might be able to accommodate this?"

Chase: "No"

Me: So I should just get an AmEx even though I'm trying to funnel a bunch of expenses through your company?

Chase: "Yes"

Often1

If Chase permits you to run a $250K credit balance, you won't need a CL increase because you will have $270K you can spend ($250 credit balance + $20K credit). The issue for you is the $250K credit balance. That is an entirely different issue from a CL increase.

You will likely need to talk to at least a 2nd tier supervisor and it is more than likely that Chase simply won't be interested because those points cost money and you are essentially using the card as a pass through. Put simply, there is nothing in the transaction but risk and no revenue.

If you do call, outline the transaction rather than asking for the CL. E.g., "I want to deposit $250K and then make roughly that amount in purchases so that I can earn points on it. Will you permit that."

exoticfusion

Not sure if you are aware or not, but transferring UR points to Southwest does not count for the Companion Pass, but you can do it from Hyatt, it's just not a 1:1 transfer. If you are aware, then ignore.

mikex163

The OP can use the Southwest credit card, no need to use an UR-earning one.

mia

I realize this may just have been a negotiating ploy, but you may not receive a different answer from American Express. Their charge cards have no preset spending limit, but that is entirely different than having no limit.

FlyerTalkUserName

Yes, negotiating ploy. I did call AmEx and ask "What happens when I swipe for $250k?" The individual on the other end said, "We might call you to verify it if you don't have a history of such transactions, but it will be approved." I'm still not sure I believe them, haha.

United747

On the AmEx website you can log in and it will say something like "check spending power" if you have a charge card. If you're serious about putting it on the AmEx, plug in $250k and see what it says.

FlyerTalkUserName

Thank you!

silver-tls

I have done this with my JPM Palladium card. I have a limit of $100,000 but recently needed to charge $125k on the card. I spoke with a supervisor and they essentially moved $25k from my chase checking account so i had a credit on my Palladium card. The charge didn't go through the first time but I kept the supervisor on the line while the vendor tried again and it worked.

I have a long standing relationship with Chase and a decent amount of assets householded with them.

At the end of the call the agent also said 'congratulations, you will earn a UR bonus for spending over $100k in the year' Oh really?

FlyerTalkUserName

Nice! Thank you for the input! I have a mortgage (con?) and a checking (pro?) account with them. So it's possible that if I really worked at it I could pull this off.

xSTRIKEx6864

The banks really need to stop advertising these cards with "no preset spending limit" because there actually is a limit, just sometimes they let you exceed the limit, but not always.

patrick.barnes

Banks generally don't like credit balances since they're a big source of money laundering issues.

Tim O'Brien

i had a similar issue with Chase a few years ago, wanting the points for a large acquisition, and i banked cash into the CC account, they accepted the deposit, then contacted me, and issued a check. Told me i couldn't carry a positive balance on the CC. not sure if things have changed since then?

takeshi74

Right -- that means there is no preset spending limit. The credit limit and spending limit are two entirely different things.