Author Topic: Large spenders. Best startegy  (Read 5880 times)

Offline dandu16

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Large spenders. Best startegy
« on: January 31, 2019, 10:35:57 AM »
Please excuse if this was posted somewhere else. Could not find the correct forum.

If i'm a very large spender - spending 6m+ a year on amex. Mostly purchases under 5k. What's the best strategy?

Platinum card only? How do I mix in AMEX Everyday Preferred card?

Thanks!
"It is only in adventure that some people succeed in knowing themselves - in finding themselves"

Offline 12HRS

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Re: Large spenders. Best startegy
« Reply #1 on: January 31, 2019, 03:30:44 PM »
Please excuse if this was posted somewhere else. Could not find the correct forum.

If i'm a very large spender - spending 6m+ a year on amex. Mostly purchases under 5k. What's the best strategy?

Platinum card only? How do I mix in AMEX Everyday Preferred card?

Thanks!

why not put most on the EDP?

Offline dandu16

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Re: Large spenders. Best startegy
« Reply #2 on: January 31, 2019, 04:18:47 PM »
And then transfer over?
"It is only in adventure that some people succeed in knowing themselves - in finding themselves"

Offline gozalim

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Re: Large spenders. Best startegy
« Reply #3 on: January 31, 2019, 05:28:52 PM »
why not put most on the EDP?
if so, why not BBP (2x) while you're at it?

Offline myi

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Re: Large spenders. Best startegy
« Reply #4 on: January 31, 2019, 05:44:58 PM »
Please excuse if this was posted somewhere else. Could not find the correct forum.

If i'm a very large spender - spending 6m+ a year on amex. Mostly purchases under 5k. What's the best strategy?

Platinum card only? How do I mix in AMEX Everyday Preferred card?

Thanks!
why specifically amex if i may ask?
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Offline 12HRS

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Re: Large spenders. Best startegy
« Reply #5 on: January 31, 2019, 08:54:18 PM »
if so, why not BBP (2x) while you're at it?

he is spending 6mm a year. BBP is 50k... although he will probably need an insane credit limit or make a ton of payments on an EDP

Offline 12HRS

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Re: Large spenders. Best startegy
« Reply #6 on: January 31, 2019, 08:54:44 PM »
And then transfer over?

generally points all connect automatically under same social

Offline ib3

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Re: Large spenders. Best startegy
« Reply #7 on: January 31, 2019, 09:06:47 PM »
why not put most on the EDP?
please enlighten me. Which card is EDP?

Offline ib3

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Re: Large spenders. Best startegy
« Reply #8 on: January 31, 2019, 09:12:28 PM »
please enlighten me. Which card is EDP?
Got it. Amex everyday preferred. Actually makes sense. Should be doing 30 transactions a month.
6mm/12 = 500k per month
Transactions are typically less then 5k. So Should be doing at least 100 transactions per month.

Offline Wizmanison

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Re: Large spenders. Best startegy
« Reply #9 on: January 31, 2019, 09:16:15 PM »
Got it. Amex everyday preferred. Actually makes sense. Should be doing 30 transactions a month.
6mm/12 = 500k per month
Transactions are typically less then 5k. So Should be doing at least 100 transactions per month.
Chances are your not getting a 500k credit limit or anywhere near that on an EDP.  And cycling your credit that much would prob not be so good. With a BP you’re able to raise your limit with your spending pattern and in due time be able to spend that amount. Also, it would keep your balances off your personal credit report. Unfortunately since you said your charges are less then 5k you wouldn’t get the 1.5 bonus. If you don’t care for points perhaps the plum will be worthwhile or what category are you spending in?

Offline 12HRS

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Re: Large spenders. Best startegy
« Reply #10 on: January 31, 2019, 10:59:24 PM »
Chances are your not getting a 500k credit limit or anywhere near that on an EDP.  And cycling your credit that much would prob not be so good. With a BP you’re able to raise your limit with your spending pattern and in due time be able to spend that amount. Also, it would keep your balances off your personal credit report. Unfortunately since you said your charges are less then 5k you wouldn’t get the 1.5 bonus. If you don’t care for points perhaps the plum will be worthwhile or what category are you spending in?

Amex has not cared about cycling CL afaik yet. although this would be an extreme example. would also require some very consistent payments being made.

Offline Joe4007

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Re: Large spenders. Best startegy
« Reply #11 on: January 31, 2019, 11:57:23 PM »
Unless you are redeeming the points yourself, which at 6MM a year is unlikely to be the case, 2% cashback is the way to go. It might need some work getting your desired credit line with a card like the Capital One Spark, but it's doable.

Offline mmgfarb

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Re: Large spenders. Best startegy
« Reply #12 on: February 01, 2019, 12:13:22 AM »
Please excuse if this was posted somewhere else. Could not find the correct forum.

If i'm a very large spender - spending 6m+ a year on amex. Mostly purchases under 5k. What's the best strategy?

Platinum card only? How do I mix in AMEX Everyday Preferred card?

Thanks!
If you can't get a biz centurion spending 6MM a year then Idk what's going on with amex these days.
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Offline efflpetzel

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Re: Large spenders. Best startegy
« Reply #13 on: February 01, 2019, 12:18:38 AM »
Unless you are redeeming the points yourself, which at 6MM a year is unlikely to be the case, 2% cashback is the way to go. It might need some work getting your desired credit line with a card like the Capital One Spark, but it's doable.
+1. That or the plum

Offline YesThatsMe

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Re: Large spenders. Best startegy
« Reply #14 on: February 01, 2019, 12:28:18 AM »
Why would you want a Centurion card? $7,500 initiation and $2,500 AF!

Offline AJK

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Re: Large spenders. Best startegy
« Reply #15 on: February 01, 2019, 12:43:40 AM »
If you can't get a biz centurion spending 6MM a year then Idk what's going on with amex these days.

It's not spend alone that matters; it's spend + what it spent on.
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Offline yelped

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Re: Large spenders. Best startegy
« Reply #16 on: February 01, 2019, 12:51:34 AM »
It's not spend alone that matters; it's spend + what it spent on.
Nuu, spill the beans...

Offline chbochur

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Re: Large spenders. Best startegy
« Reply #17 on: February 01, 2019, 01:21:51 AM »
Unless you are redeeming the points yourself, which at 6MM a year is unlikely to be the case, 2% cashback is the way to go. It might need some work getting your desired credit line with a card like the Capital One Spark, but it's doable.
If you have proper paperwork you can get the capital one Sparks 'charge card' with which you skills be able to get insanely high credit lines at 2 percent cash back

Offline mmgfarb

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Re: Large spenders. Best startegy
« Reply #18 on: February 01, 2019, 01:27:44 AM »
Why would you want a Centurion card? $7,500 initiation and $2,500 AF!
For someone spending 6MM a year it's worth it, trust me.
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Offline mmgfarb

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Re: Large spenders. Best startegy
« Reply #19 on: February 01, 2019, 01:28:28 AM »
It's not spend alone that matters; it's spend + what it spent on.
True but 6MM should get you pretty close.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy