large purchase coming up, best way to capitalize?
 

Hi all,

I'm hurting my brain trying to figure out the best way to do this.

I have a large cash purchase coming up (vicinity of $47,000), and I'm trying to gain as much out of this as I can...if it's possible.

I'm open to getting a new card, but it has to be pretty soon as I'm making the purchase on 10/1. I currently fly only Delta (platinum medallion), and stay at Marriott family hotels.

Current credit cards: US Bank Altitude Reserve, Delta Reserve Amex (my main card, so I can hit the 30/60K boosts and I've already hit the 60K one this year), Marriott Bonvoy Brilliant and a random Amex card I never use (blue?)

I've been looking at services like Plastiq or something as simple as Paypal since Venmo has a cap on purchases.

What are you best recommendations for making something like this worth it, rather than just writing a check.

Thanks!

If the recipient only accepts cash and you’re looking to services like Plastiq to pay with a card anyway, there’s almost no way to get it to make sense given the fees involved. The sole exception is if you hit a bonus threshold.

Best Credit Card For Large Yearly Spends
 

I started a small business last year and had terrible credit at the time. It has, over the course of the last year, grown into a mid-size business. I paid for everything up front this year using debit cards and spent almost 1 million on advertising, 100-150k on travel expenses (all flights on delta), and another 500k on other items that could have been paid for on credit cards. In total I spent just under 2 mil this year that could have been put on credit cards. My business is in the black and we have no loans or debt of any kind. My credit score has improved drastically, but I am only at 690 with Experian. I expect my business spend to increase by about 20% next year and we will continue to run in the black the entire year. I'd like to actually put the spend to use somehow, but I have no idea how best to do that.

Welcome to FT, shummer79! And, congratulations on your successful business! The first step in your credit card decision is to articulate your goals. Would you like to save money in order to reinvest back into your young business (that would definately be my recommendation at this point in your business lifecycle)? If so, finding a 2% cash back card would help with that objective.

Here is one option: https://www.fidelity.com/cash-manage...signature-card

Good luck to you.

I spend about 1 million a year on credit cards for business. Does anyone know of any domestic airline card that gives "top tier" status for spend alone on their branded cards? DL waives the spend requirement after one spends 250k/year on their card but I believe they still require a certain amount of flights. United caps spend only at either Gold or Platinum and not 1K. I was hoping by spending so much on one airline card I could get top elite status with that airline. Many thanks.

Well if you split the $1m between Delta cards that earn MQM, you may be able to. I guess 60K MQM from the Reserve, then another 20K MQM from the Delta Platinum, which brings you to Diamond MQD waived + 80K MQM, so you'd reach Platinum. Diamond would still be a bit away though...

Don't forget about Jetblue Mosaic after $50K on their card, also Silver on Virgin Atlantic is attainable after via their card.

The only card gives you outright status is JetBlue. But it has a smaller footprint.

DL is a possibility. If you fly it often.

Best Card for a large purchase - Plat Amex or Chase Sapphire Reserve
 

Hi. Making a large purchase ($25k) and not sure which card will net me the best mileage option, Amex Platinum or Chase Sapphire Reserve. All advice welcome.

I would say all things being equal pick the one that you find is harder to earn points on. I find it alot harder to earn UR so I would probably pick Chase.

Whichever one you go with, suggest that you call the applicable card issuer and alert them to your planned large purchase.

If you typically transfer your points, keep in mind that Amex offers transfer bonuses whereas Chase does not.

Back looking at my next option(s)
Recent Cards-
CSR(opened 9/22/19)
CIP(opened 12/30/19)
minimum spend meet on those(HVAC and Appliances )

Up next is windows and siding- enough to meet one, if not two minimum spends(likely with just Down payment(s)
other cards held- all opened well over 5 years ago
Amex Gold- Business
AAdvantage Aviator-personal
Chase Mileage Plus-Personal
Chase Presidential Plus-Personal

Wife has Amex Delta Plat

Was thinking of using her referral link and applying for Delta Plat Amex as well
New job has me covering more of the southeast US, so UA and I are more just friends now
looks like a 75K bonus is about the best I can do- with 3k spend
Not sure the reserve would work that well for me with it's AF and overlap

other options/suggestions welcome

Thanks
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ETA: Shoulda waited to apply(got approved)- offer is now 100K miles, granted fee is higher-now $250
say AMEX notice about offer I got was expiring 1/29. Figured they's drop back to standard 30K stuff for a while- guess it's time to call and see if maybe bump me up

Need Advice for Extremely High Credit Card Spender
 

Looking for advice:

My friend is a ticket broker. He spends upwards of 250K per month on credit cards. He has about 150K in credit. 770 Fico. and is over 5/24. His utilization is extremely high and he pays down cards multiple x per week because he maxes out on his total credit limit.

He wants to expand his business and needs more credit.

Looking for your help on a strategy for him.
He's been rejected from all CapOne. Rejected for limit increases on current cards.

He also has a day job where his comp is 100K+

He currently has: AX Plat Citi AA Citi Premier Chase Freedom Chase Sapphire Chase IHG - all of these are personal cards BofA Premium Rewards Alliant Signature WF Biz Plat and a few others.... He does have an LLC but no business cards.

If the lower FICO is due to the high closing balances on his personal cards he should try opening business cards issued by American Express or Citi and shift spending away from personal to business cards because the balances are not reported. However, he needs to understand that Business cards are opened in the name of the individual, not the company, and when he applies for a business card his personal credit report will be the major consideration. American Express charge cards do not have formal credit limits, but it practice there will be a cap on the transactions American Express will approve, based on what they know about his financial resources. A Platinum card will not have any higher spending capacity than a Green card.

Best credit card for high spend
 

What is the current best credit card for high (unbonused) spend?
Running ~200k/year through. Maxed out on new signups for bonuses.