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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 12
    More: Unlikely, credit cards, hellos  
•       •       •

20244 clicks; posted to Main » on 29 Apr 2013 at 4:11 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-04-29 04:29:14 PM  
3 votes:

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
Good thru forever
Credit limit Infinity
Minimum payment 0
2013-04-29 06:48:23 PM  
1 votes:
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 05:06:09 PM  
1 votes:

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 05:00:29 PM  
1 votes:

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 04:59:28 PM  
1 votes:
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 04:51:32 PM  
1 votes:
$605,000?
Jesus, where are they going for coffee? Starbucks?
2013-04-29 04:37:07 PM  
1 votes:

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.


Plus, whoever used the card appears to have known the limit (or at least how low to stay).


My theory is that the guy wanted the lunch, put it on his own damn card,
then reported it stolen to avoid paying the bill.
2013-04-29 04:34:50 PM  
1 votes:
Wanted for questioning:

www.cyberpunkreview.com
2013-04-29 04:33:27 PM  
1 votes:

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.


There was never any charge.  New bid was listed immediately.  An authorization for $605K was attempted later and declined.  Listed high bid was dropped back to $600K.
2013-04-29 04:25:30 PM  
1 votes:
sithon: "Who the fark has a $600,000.00 limit on their CC ?"

The same kind of person who would spend 600k to have coffee with some CEO?
2013-04-29 04:24:04 PM  
1 votes:

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.
2013-04-29 04:16:05 PM  
1 votes:
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.
 
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