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(CNN)   "Hi, we're your credit card company. We'd like to verify a few charges. Shell Station, $24.36." "Yep." "Ok, good. OK, this next one is the Robert F. Kennedy Center for Justice & Human Rights, for $605,000." "Um, what?"   (tech.fortune.cnn.com) divider line 104
    More: Unlikely, credit cards, hellos  
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20231 clicks; posted to Main » on 29 Apr 2013 at 4:11 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-04-29 04:56:10 PM

Tom_Slick: Rwa2play: So IOW if you're not worth at least $50 Million, you're not getting AmEx Black.

Pretty much they look at your portfolios and you have to charge $250,000 a year.


And presumably travel and spend money at luxury retailers. It's a card that allows you to more easily spend money! You don't even have to go to the store yourself, you get a personal shopper!
 
2013-04-29 04:56:41 PM

mr_a: $24,63 at a Shell station?

A candy bar and a quart of oil?


Case of Old Style
 
2013-04-29 04:59:28 PM
Unless the CEO of Apple is bringing a supermodel to perform oral sex on me for next year, I am not paying $600,000 for coffee
 
2013-04-29 05:00:06 PM

UsikFark: Tom_Slick: Rwa2play: So IOW if you're not worth at least $50 Million, you're not getting AmEx Black.

Pretty much they look at your portfolios and you have to charge $250,000 a year.

And presumably travel and spend money at luxury retailers. It's a card that allows you to more easily spend money! You don't even have to go to the store yourself, you get a personal shopper!


Don't forget the partial ownership of a private jet.
 
2013-04-29 05:00:29 PM

SpectroBoy: sithon: Who the fark has a $600,000.00 limit on their CC ?

I do. You never know what life will throw at you and raising the limit is free.

Also, your credit score includes (among many things) what percentage of your available credit you actually use. A higher limit means a lower % utilization. I know, it seems ass backwards as a person with a crazy high limit could hurt themselves pretty badly, but credit scoring doesn't always make sense.


I'm not going to call bullsh*t here because I'm always willing to admit I may be wrong but I am going to express a healthy amount of skepticism. I've managed money for people that put millions of dollars on credit cards every year and not one of their cards ever had a limit that high. Not even close, in fact, the highest limit on a single card I've ever seen was $96,000 and that card was pre-paid every month in advance of expected spending. The only reason I knew that card had a limit at all was because he tried to charge a $110,000 maintenance bill for his Gulfstream and the approval failure seemed to become my fault.

Tom_Slick: Rwa2play: So IOW if you're not worth at least $50 Million, you're not getting AmEx Black.

Pretty much they look at your portfolios and you have to charge $250,000 a year.


They don't look at your portfolios. You just have to have great credit and spend a minimum of 250k a year with Amex. Practically anyone (that spends 250k a year on an Amex card) can get a Centurion card, but it might take a little effort. There are other ways to get them as well that don't involve you spending that much personally, but SOMEONE has to burn some credit before Amex will offer one.

ArkPanda: Tom_Slick: I'm trying to figure out whose card was stolen, there can't be that many people with a limit high enough to process a $605,000 charge.

Maybe an AMEX?  Those work a little differently but it seems like you would still run into problems.


To my knowledge every Amex card has a limit. There are exceptions I'm sure, but I know the Centurion cards are not automatically one of them. The big difference is that many people who spend enough money to even justify a black card pre-pay each month. You are then limited by only what you've paid in advance.
 
2013-04-29 05:02:59 PM
A true troll would've stolen Tim Cook's card to use for this.
 
2013-04-29 05:04:48 PM

Tom_Slick: UsikFark: Tom_Slick: Rwa2play: So IOW if you're not worth at least $50 Million, you're not getting AmEx Black.

Pretty much they look at your portfolios and you have to charge $250,000 a year.

And presumably travel and spend money at luxury retailers. It's a card that allows you to more easily spend money! You don't even have to go to the store yourself, you get a personal shopper!

Don't forget the partial ownership of a private jet.


Presumably so you can fly to a global warming conference in when your wife isn't using it.
 
2013-04-29 05:06:09 PM

A Shambling Mound: To my knowledge every Amex card has a limit. There are exceptions I'm sure, but I know the Centurion cards are not automatically one of them. The big difference is that many people who spend enough money to even justify a black card pre-pay each month. You are then limited by only what you've paid in advance.


So the most prestigious cards are prepaid; that is hilarious!
 
2013-04-29 05:10:12 PM

Tom_Slick: Katolu: Tom_Slick: I'm trying to figure out whose card was stolen, there can't be that many people with a limit high enough to process a $605,000 charge.

American Express Black card?

The requirements to have one of those are so exclusive if it was it had to be a person of note.


Nah, I hang out with dirt bags and I know a few people with the AMEX black.
 
2013-04-29 05:12:52 PM
Anytime  meow said the dogposts, I always read it in this character's voice.

i149.photobucket.com


/definitely in my top 5 fave farkers
 
2013-04-29 05:12:58 PM

BarkingUnicorn: A Shambling Mound: To my knowledge every Amex card has a limit. There are exceptions I'm sure, but I know the Centurion cards are not automatically one of them. The big difference is that many people who spend enough money to even justify a black card pre-pay each month. You are then limited by only what you've paid in advance.

So the most prestigious cards are prepaid; that is hilarious!


You don't get rick by writing a bunch of checks.

/that you can't cash.
 
2013-04-29 05:14:58 PM

UsikFark: Old Man Winter: Isn't the author of the article one of the kids from "Leave it to Beaver"?

You wish.


Are you sure, 'cause that looks like Wally.
i2.cdn.turner.com
 
2013-04-29 05:16:29 PM
I had my CC fraud dept contact me a few years ago about some charges. One was for 20 some dollars for groceries - yep. The next was gas - yep. finally they asked me about the $10 K at Harvard university. That got a big no and a new card.
 
2013-04-29 05:19:19 PM

SpectroBoy: sithon: Who the fark has a $600,000.00 limit on their CC ?

I do. You never know what life will throw at you and raising the limit is free.

Also, your credit score includes (among many things) what percentage of your available credit you actually use. A higher limit means a lower % utilization. I know, it seems ass backwards as a person with a crazy high limit could hurt themselves pretty badly, but credit scoring doesn't always make sense.


Um... a higher utilization typically  increases your credit score, though, unless you're running it like 1% under the wire every month.  Only using a few percent of your limit will tend to knock points off as it's an indicator that... well, what you're actually doing, apparently, that you take on potential debt well in excess of your actual capacity to pay it back.
 
2013-04-29 05:20:01 PM

Tom_Slick: Katolu: Tom_Slick: I'm trying to figure out whose card was stolen, there can't be that many people with a limit high enough to process a $605,000 charge.

American Express Black card?

The requirements to have one of those are so exclusive if it was it had to be a person of note.


Hope it's a Kardashian....
 
2013-04-29 05:22:42 PM

Tom_Slick: Katolu: Tom_Slick: I'm trying to figure out whose card was stolen, there can't be that many people with a limit high enough to process a $605,000 charge.

American Express Black card?

The requirements to have one of those are so exclusive if it was it had to be a person of note.


So in order to qualify, you not only need a Wikipedia entry, you need an edit war of your Wikipedia entry. Talk about exclusive!
 
2013-04-29 05:28:44 PM
What I am still trying to puzzle out is how Apple's CEO is trying to pimp out his company influence... as if having a 600k breakfast with him is going to grant you 3 wishes... biatch please.  What exactly is he peddling here? Its really disgusting
 
2013-04-29 05:30:22 PM

Snarfangel: The requirements to have one of those are so exclusive if it was it had to be a person of note.


Or just have rich parents.

/only one I've seen
 
2013-04-29 05:37:02 PM
meow said the dog: [Snip: Pure Brilliance]

I missed you, Meow. Hug?
 
2013-04-29 05:41:09 PM

Polartank13: Anytime  meow said the dogposts, I always read it in this character's voice.

[i149.photobucket.com image 752x552]


/definitely in my top 5 fave farkers


Meow wears many hats, even drops the meowspeak when posting on TFD.
 
2013-04-29 05:42:53 PM
FTA: "That must have been a rude surprise for the card holder."

I'm sure it was, but isn't the credit card company on the hook for it? IIRC, the credit card *holder* is only liable for $50 of fraudulent charges (and most CC companies waive that).

/ recently had my card used fraudulently
// bit of a hassle but didn't have to pay a dime for the fraudulent charges, just identify them
/// kinda wondering if the CC companies purposely put fake stuff in there from time to time
 
2013-04-29 05:42:54 PM

you are a puppet: The $24.36 Shell charge seems strange too. Pumped just a half gallon?


beer and cigs..
 
2013-04-29 05:49:03 PM

Worst Name I Ever Heard: FTA: "That must have been a rude surprise for the card holder."

I'm sure it was, but isn't the credit card company on the hook for it? IIRC, the credit card *holder* is only liable for $50 of fraudulent charges (and most CC companies waive that).

/ recently had my card used fraudulently
// bit of a hassle but didn't have to pay a dime for the fraudulent charges, just identify them
/// kinda wondering if the CC companies purposely put fake stuff in there from time to time


I bet those farkers are buying powerchairs on your card right now.
 
2013-04-29 05:49:12 PM

UsikFark: Polartank13: Anytime  meow said the dogposts, I always read it in this character's voice.

[i149.photobucket.com image 752x552]


/definitely in my top 5 fave farkers

Meow wears many hats, even drops the meowspeak when posting on TFD.


Was in TF-land for a long time, just havent bothered renewing yet.
 
2013-04-29 05:50:27 PM
Meow: The absence of the you has made the hearts of the me grow fondling
 
2013-04-29 05:55:33 PM

UsikFark: I bet those farkers are buying powerchairs on your card right now.


Those monsters!

/ I think they will have a tough time with that, considering that the card was cancelled...
 
2013-04-29 05:55:55 PM

berylman: Prolly testing the waters for a larger scam....but on a side note you can now have breakfast with Tim Cook for 600k ...how nice.
/jezus save us


I can have breakfast with myself for about $600k less than that. And it's my favorite company!
 
2013-04-29 06:04:25 PM

you are a puppet: Fano: Tom_Slick: I'm trying to figure out whose card was stolen, there can't be that many people with a limit high enough to process a $605,000 charge.

Batman.

[images4.wikia.nocookie.net image 402x226]
Good thru forever
Credit limit Infinity
Minimum payment 0


I have been so tempted to use the "custom card" option to take that ridiculous card and make it my credit card's background. Unfortunately, doing so might validate that terrible movie.
 
2013-04-29 06:04:47 PM

you are a puppet: The $24.36 Shell charge seems strange too. Pumped just a half gallon?


You've never been in a gas station in recent years.  I'm there because Mountain Dew Throwback isn't available elsewhere and there are plenty of people paying 20 bucks, 10 bucks, even FIVE bucks cash for gasoline.  If you're really scraping by money wise, you may not be able to go empty to full every time.  And there are plenty of reason to want to top it off before a long trip or an extended period of time where getting to the station isn't easy.  And there's something to be said for getting gas when it's cheap and not when you absolutely need it.
 
2013-04-29 06:09:13 PM
There used to be a problem with cards like AMEX with "no set credit limit" because the issuer would report to the agencies the highest balance seen as the "limit", which could give the appearance of a very high utilization ratio, like the case of a small business owner who routinely puts all the monthly business expenses on AMEX and pays it off each month.

Jim_Callahan: Um... a higher utilization typically  increases your credit score, though, unless you're running it like 1% under the wire every month.  Only using a few percent of your limit will tend to knock points off as it's an indicator that... well, what you're actually doing, apparently, that you take on potential debt well in excess of your actual capacity to pay it back.


In my experience higher utilization lowers FICO.

  The scores take into account both your total "available credit" (too little is bad, but too much is also bad) and your "credit utilization ratio".    Only using a few percent of your limit is always a good thing, will not "knock points off" directly.    However, the most likely reason someone shows as only using a few percent is accounts with very high limits, and excessive available credit does reduce the score, for more or less the reason you state.
 
2013-04-29 06:10:21 PM

meow said the dog: What is the most surprising thing for me is why this was the surprise to the credit card company as yes it does seem to be quite the expensive thing at $605,000 but it was also the meeting with Timothy O'Cook and as is known by we everything that is the Apple product is overpriced and the thing upon which causes the sad face of the disappointment.

Now let me say this about the protection of the credit cards.  I have these under seventeen different names but only one of these is the actual card of me.  This is the reason for this and that is that if the individual did the stealing of the card for me to pay for the overpricing meeting with the overrated individual such as Timothy O'Cookingham of the United Kingdom branch of the Apple IIe Computer Company then it would be the 1 in 17 chance that the card they are actually using really was taken out in the name of one of the ten most wanted of the FBI.  Then when the individual is caught for this what will be said by me is PWNED ENJOY THE CELLMATE OF BUBBA JOHNSON OF YOU BIATCHO!

The moral of this is that you should not do the stealing of the credit card because until you use this it is the Throwdingers kitten and is simultaneously the card that will get you the product and the card that will get you the prison and you do not know which this is until you run this through the scanning software.  Will you take the chance with this?  I do not think you should do this of course!


great stuff! Thanks!
 
2013-04-29 06:10:21 PM
What if the 600k bid was artificially inflated in a duel with the fake 605k guy?
 
2013-04-29 06:15:43 PM
For anybody interested, Credit Karma is an excellent app to keep track of your credit score and history.  It's also totally free.
 
2013-04-29 06:16:38 PM

dletter: meow said the dog: What is the most surprising thing for me is why this was the surprise to the credit card company as yes it does seem to be quite the expensive thing at $605,000 but it was also the meeting with Timothy O'Cook and as is known by we everything that is the Apple product is overpriced and the thing upon which causes the sad face of the disappointment.

Now let me say this about the protection of the credit cards.  I have these under seventeen different names but only one of these is the actual card of me.  This is the reason for this and that is that if the individual did the stealing of the card for me to pay for the overpricing meeting with the overrated individual such as Timothy O'Cookingham of the United Kingdom branch of the Apple IIe Computer Company then it would be the 1 in 17 chance that the card they are actually using really was taken out in the name of one of the ten most wanted of the FBI.  Then when the individual is caught for this what will be said by me is PWNED ENJOY THE CELLMATE OF BUBBA JOHNSON OF YOU BIATCHO!

The moral of this is that you should not do the stealing of the credit card because until you use this it is the Throwdingers kitten and is simultaneously the card that will get you the product and the card that will get you the prison and you do not know which this is until you run this through the scanning software.  Will you take the chance with this?  I do not think you should do this of course!

Do you also have a time cube you want to show me?


One trick pony looking for people unfamiliar with the trick.
 
2013-04-29 06:18:40 PM

berylman: What I am still trying to puzzle out is how Apple's CEO is trying to pimp out his company influence... as if having a 600k breakfast with him is going to grant you 3 wishes... biatch please.  What exactly is he peddling here? Its really disgusting


The prize doesn't matter.  Charity auctions are about charity and PR for being charitable.
 
2013-04-29 06:24:51 PM

ZeroPly: dletter: meow said the dog: What is the most surprising thing for me is why this was the surprise to the credit card company as yes it does seem to be quite the expensive thing at $605,000 but it was also the meeting with Timothy O'Cook and as is known by we everything that is the Apple product is overpriced and the thing upon which causes the sad face of the disappointment.

Now let me say this about the protection of the credit cards.  I have these under seventeen different names but only one of these is the actual card of me.  This is the reason for this and that is that if the individual did the stealing of the card for me to pay for the overpricing meeting with the overrated individual such as Timothy O'Cookingham of the United Kingdom branch of the Apple IIe Computer Company then it would be the 1 in 17 chance that the card they are actually using really was taken out in the name of one of the ten most wanted of the FBI.  Then when the individual is caught for this what will be said by me is PWNED ENJOY THE CELLMATE OF BUBBA JOHNSON OF YOU BIATCHO!

The moral of this is that you should not do the stealing of the credit card because until you use this it is the Throwdingers kitten and is simultaneously the card that will get you the product and the card that will get you the prison and you do not know which this is until you run this through the scanning software.  Will you take the chance with this?  I do not think you should do this of course!

Do you also have a time cube you want to show me?

One trick pony looking for people unfamiliar with the trick.


meow
 
2013-04-29 06:25:06 PM
It would be nice if I were loaded enough to have a card that didn't reject that kind of charge outright.
 
2013-04-29 06:34:15 PM
PSA: BLOCK MEOW SAID THE DOG. STOP ENCOURAGING HIM. THANK YOU.
 
2013-04-29 06:44:03 PM

Gone In 26 Minutes: PSA: BLOCK MEOW SAID THE DOG. STOP ENCOURAGING HIM HER. THANK YOU.


FTFY
 
2013-04-29 06:48:23 PM
Amex is AWESOME!  Two months ago caught $673 of bogus charges on my card and called me within 24 hours of the charges. 
Member since 1992.
 
2013-04-29 06:53:24 PM

Gone In 26 Minutes: PSA: BLOCK MEOW SAID THE DOG. STOP ENCOURAGING HIM. THANK YOU.


i149.photobucket.com
 
2013-04-29 06:57:21 PM

Gone In 26 Minutes: PSA: BLOCK MEOW SAID THE DOG. STOP ENCOURAGING HIM. THANK YOU.


The butthurt is you.  Perhaps you are the individual who did the theft of the card of this?  Is this the reason for being so defensive of the individual?
 
2013-04-29 07:19:57 PM

meow said the dog: Gone In 26 Minutes: PSA: BLOCK MEOW SAID THE DOG. STOP ENCOURAGING HIM. THANK YOU.

The butthurt is you.  Perhaps you are the individual who did the theft of the card of this?  Is this the reason for being so defensive of the individual?


I love you MSTD. I think you're a stroke victim, but I love you.
 
2013-04-29 07:26:52 PM
A week or two back, I learned that my bank's fraud department isn't particularly accurate with their fraud detection.  I got an email asking me to verify a denied ATM withdrawal, three gas purchases, and some other transaction that escapes me at the moment.  The ATM withdrawal had  not been denied.  I had the cash in my wallet.  There were only two gas purchases. The other transaction from that set was a purchase at the counter of a gas station despite being labeled as a self-service pump.  And the two gas purchases were listed for the initial hold amounts rather than the exact transaction amounts despite having the exact amounts on my "pending charges" list.

The automated system gave me no option to provide corrections to the information so I called the 800 number.  That also gave me no option to provide corrections or speak to a CSR at any time.  I then called the regular 800 number and tried to get a CSR.  Immediately got shunted to the fraud department where I had to enter my account information 2.5 times and only got forwarded to a CSR because the automated system was "unable to access [my] information".  The rep seemed annoyed that I was being so picky about minor details like whether or not I got $500 from the ATM and whether I'd paid $75 and $126 for gas or $30.something each time.  (Yes, one of the holds was for $126.  Not $125, not $130.  $126.)  Just sloppy all around.  Really makes me wonder if I want to stick with them for the long term.
 
2013-04-29 07:54:13 PM

Victoly: Wanted for questioning:

[www.cyberpunkreview.com image 650x352]


Came for this.  Leaving satisfied.
 
2013-04-29 08:29:33 PM

Victoly: Wanted for questioning:

[www.cyberpunkreview.com image 650x352]


MARTY!
 
2013-04-29 08:37:40 PM
The "bidder" using the stolen card was apparently povely.com, run by https://twitter.com/nicholassheriff

Who make.... wait for it.... Bible apps. Isn't there something in the Bible about not stealing stuff??
 
2013-04-29 08:56:02 PM
Certain large credit card ex-associations maintain an 'always honor' file of cards that should never be declined. These cars are owned by The President of the United States, The Sultan of Brunei and other folks who are always going to be good for the charge no matter what (the embarrassment and hassle of a decline far outstrip any potential for fraud).  The assertion is done right in the network.

/this probably wasn't one of those
 
2013-04-29 09:11:45 PM
My Visa Signature card has no predefined limit, charges over $25k are evaluated on an individual basis. So if I had a history of large purchases that were paid off on time I'm sure Visa would gladly take 2.5% of a 600k purchase. Hell, as a small business owner I had a $100k limit Amex at 18, never used more than about $40k of that limit but it was nice to know if I got a large order I could purchase materials without some credit check PO delay.
 
2013-04-29 09:38:33 PM

schnee: Certain large credit card ex-associations maintain an 'always honor' file of cards that should never be declined. These cars are owned by The President of the United States, ...


Forget minting that trillion dollar coin.... I think I see a way out of the current financial crisis.
 
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