Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Sep 22, 2009, 10:37 am
#4562
Join Date: Aug 2009
Location: Washington DC
Programs: Hilton Diamond, Amex MR
Posts: 23
AMEX
I had gotten a request for a financial review from amex....
They were wondering why I was purchasing so much all of a sudden. They blocked one of my orders because it would have brought my balance over 25k. Their reasoning was that I had never spent more than 3k on it in a month and averaged about 2k a month annually. They put this limit at 25k then told me that after I demonstrated an ability to pay the 25k off, that limit would increase each month.
Overall, I have mixed feelings about it, I understand that they don't want to be liable for such a huge sum of money, but when they tell me "no pre set spending limit," I would like to think that theres no limit.
I hope they keep increasing it, as it is, I will lose out on my 9/24 shipment most likely due to my payment posting today.
They were wondering why I was purchasing so much all of a sudden. They blocked one of my orders because it would have brought my balance over 25k. Their reasoning was that I had never spent more than 3k on it in a month and averaged about 2k a month annually. They put this limit at 25k then told me that after I demonstrated an ability to pay the 25k off, that limit would increase each month.
Overall, I have mixed feelings about it, I understand that they don't want to be liable for such a huge sum of money, but when they tell me "no pre set spending limit," I would like to think that theres no limit.
I hope they keep increasing it, as it is, I will lose out on my 9/24 shipment most likely due to my payment posting today.
Sep 22, 2009, 10:58 am
#4563
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,047
Umm - don't credit card companies WANT you to buy things? The more the better - that's how they make their fees.
Sep 22, 2009, 11:27 am
#4564
Join Date: Aug 2009
Posts: 123
And then the more you buy, the bigger the risk you are, because the chance is greater that you could go into default, declare bankruptcy and they will never get their money.
Sep 22, 2009, 12:03 pm
#4565
Join Date: May 2002
Location: St Louis, MO
Programs: AA L.T. PLT
Posts: 3,298
Why would they cancel on a pre pay? I've been doing that for years and have never had a problem. Coins or no coins.
Sep 22, 2009, 12:41 pm
#4566
Join Date: Nov 1999
Programs: UA, DL, AA, Sutherlands Lumber
Posts: 7,359
Sep 22, 2009, 3:09 pm
#4568
Join Date: Feb 2007
Location: SEA
Programs: Delta TDK(or care)WIA, Hilton Diamond
Posts: 1,869
Once the coin deal gets deep into your blood, you lose all discretion. There needs to be a 12-step program.
Let's see:
1. We admitted we were powerless over our desire for coins—that our lives had become unmanageable.
2. Came to believe that a Power greater than ourselves (the United States Mint) could restore us to sanity.
3. Made a decision to turn our will and our lives over to the care of the Mint as we understood It.
4. Made a searching and fearless inventory of our Presidents, NAs, balances, credit limits, and miles.
And so on.
Sep 22, 2009, 3:10 pm
#4569
Join Date: Nov 1999
Programs: UA, DL, AA, Sutherlands Lumber
Posts: 7,359
BoA (bless their hearts 
)
)
Sep 22, 2009, 3:19 pm
#4570
Join Date: Nov 1999
Programs: UA, DL, AA, Sutherlands Lumber
Posts: 7,359
1. We admitted we were powerless over our desire for coins—that our lives had become unmanageable.
2. Came to believe that a Power greater than ourselves (the United States Mint) could restore us to sanity.
3. Made a decision to turn our will and our lives over to the care of the Mint as we understood It.
4. Made a searching and fearless inventory of our Presidents, NAs, balances, credit limits, and miles.
2. Came to believe that a Power greater than ourselves (the United States Mint) could restore us to sanity.
3. Made a decision to turn our will and our lives over to the care of the Mint as we understood It.
4. Made a searching and fearless inventory of our Presidents, NAs, balances, credit limits, and miles.
Sep 22, 2009, 3:43 pm
#4571
Join Date: Feb 2007
Location: SEA
Programs: Delta TDK(or care)WIA, Hilton Diamond
Posts: 1,869
Sep 22, 2009, 4:22 pm
#4572
Join Date: Feb 2009
Location: SEA
Programs: Alaska MVPG 100K, IHG Ambassador, Hilton Diamond, Hyatt Globalist, Marriott Titanium
Posts: 1,704
Same for me - my 9/15 order shows a ship date of 10/7. My 9/12 order just shipped today though, so that should keep me occupied this week and give myself a little break + time to open a Chase checking account for the CO miles.
Sep 22, 2009, 4:29 pm
#4573
Join Date: Dec 2005
Location: Hopefully on a plane...
Posts: 6,580
I did have an on hold order go to in process today (and the authorization hit my AMEX). This was an older order (9/8) but I had a hiccup where when they charged, the CL wasn't available....
On Friday some 9/14 orders also went to process from on hold. Authorization also was done.
On Friday some 9/14 orders also went to process from on hold. Authorization also was done.
Sep 22, 2009, 5:35 pm
#4574
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,049
What do you mean by "pre-pay"? Paying off a balance before the closing date is OK. But what some people have been doing has been to make MASSIVE payments to a card so that they had a huge credit balance, which they then spent on coins. I mean, something like making a $50,000 payment to a card with a $10,000 CL, thereby creating a $50,000 credit balance, and then buying $55,000 worth of coins. Any bank is going to be scared of something like that.
Sep 22, 2009, 5:35 pm
#4575
Join Date: Aug 2008
Posts: 101
Is there anything like this in Canada?
Thanks
Thanks