Spending a lot of money on cc

[emak]

I have a opportunity to spend a lot of money on a Chase cc over the next few years. Besides for the actual points being earned, how beneficial is it to my overall credit score/ relationship with Chase to spend tens of thousands of dollars on a credit card? I am planning on paying in full before the statement closes. Anyone have experience in getting more cc offers or credit limit increases because of spending a lot on a cc? Thanx

[AsherO]

I have a opportunity to spend a lot of money on a Chase cc over the next few years. Besides for the actual points being earned, how beneficial is it to my overall credit score/ relationship with Chase to spend tens of thousands of dollars on a credit card? I am planning on paying in full before the statement closes. Anyone have experience in getting more cc offers or credit limit increases because of spending a lot on a cc? Thanx

1. It doesn't improve your score, it should lower your score until a month or so after you pay it all off.
2. It could adversely affect your relationships with issuers if they see the spending as irregular/risky.
3. It's not worth doing just for the points, if the person you're spending for doesn't pay you then you'll be out all that money. Don't risk more than you can afford to lose.
4. If there's any chance interest will have to be paid, speak to your LOR about putting a heter iska into place.

[CountValentine]

Anyone have experience in getting more cc offers or credit limit increases because of spending a lot on a cc?

It will not help.

[notanonymous]

It will not help.

I don't know about offers, but IME around 10 years ago I had around 7500 CL with Amex DL business.  I spent around 100k spread over a year. Without being asked, I was raised a few times until CL was 21k.

[Centro]

I am planning on paying in full before the statement closes.

You would get a better score by paying off most of you bill before the statement closes and have every month a bill for a few dollars.

[Centro]

I have a opportunity to spend a lot of money on a Chase cc over the next few years. Besides for the actual points being earned, how beneficial is it to my overall credit score/ relationship with Chase to spend tens of thousands of dollars on a credit card? I am planning on paying in full before the statement closes. Anyone have experience in getting more cc offers or credit limit increases because of spending a lot on a cc? Thanx

BTW is it gonna be a business card or a personal card?
On a business card I'm not sure about relations with the bank but it'll have no affect on your score.

[Ephraimh]

I recently charged a total of $400k in just 3 months (June July August) my total cl (all banks/cards combined) was 150k, I charged approx 130k per month... I was basically maxed out for 3 months in a row... my score dropped sharply south from 740 to 650 in no time... after repaying everything in full (no late/minimum payment ever!) my score shot back up and is now sitting somewhere in the 770's + I earned a whooping half a million miles (between amex mr, Chase ur, and citi aa)!

Sounds good! Huh? Yeah... except amex FR'ed me... couldn't provide business evidence ... ran with the rewards... closed the accounts... before they had a chance to...

but that was basically the only down side for doing it.

[CountValentine]

I don't know about offers, but IME around 10 years ago I had around 7500 CL with Amex DL business.  I spent around 100k spread over a year. Without being asked, I was raised a few times until CL was 21k.

You are correct. I was thinking CL when you apply for the card, sorry.

[CountValentine]

Sounds good! Huh? Yeah... except amex FR'ed me... couldn't provide business evidence ... ran with the rewards... closed the accounts... before they had a chance to...

To bad you did not have a real business. Once you pass the FR you could have slammed them 2-4x higher.

[Ephraimh]

To bad you did not have a real business. Once you pass the FR you could have slammed them 2-4x higher.

That entire amex fiasco as a whole was a 'too bad' scenario...
But on the other hand, no money buys experience....

[notanonymous]

I recently charged a total of $400k in just 3 months (June July August) my total cl (all banks/cards combined) was 150k, I charged approx 130k per month... I was basically maxed out for 3 months in a row... my score dropped sharply south from 740 to 650 in no time... after repaying everything in full (no late/minimum payment ever!) my score shot back up and is now sitting somewhere in the 770's + I earned a whooping half a million miles (between amex mr, Chase ur, and citi aa)!

Sounds good! Huh? Yeah... except amex FR'ed me... couldn't provide business evidence ... ran with the rewards... closed the accounts... before they had a chance to...

but that was basically the only down side for doing it.

MS?

[Ephraimh]

MS?

care to explain?

[CountValentine]

care to explain?

Manufacture Spend

[Ephraimh]

Manufacture Spend

borrowed for a mosed, call it as you wish...

[notanonymous]

borrowed for a mosed, call it as you wish...

How hard did you try to come out of the FR on top?  'I'm sorry, I didn't know.  I was just helping out a non-profit.  I didn't realize it would hurt me...I'll never do it again, etc.'

[AJK]

I recently charged a total of $400k in just 3 months (June July August) my total cl (all banks/cards combined) was 150k, I charged approx 130k per month... I was basically maxed out for 3 months in a row... my score dropped sharply south from 740 to 650 in no time... after repaying everything in full (no late/minimum payment ever!) my score shot back up and is now sitting somewhere in the 770's + I earned a whooping half a million miles (between amex mr, Chase ur, and citi aa)!

Sounds good! Huh? Yeah... except amex FR'ed me... couldn't provide business evidence ... ran with the rewards... closed the accounts... before they had a chance to...

but that was basically the only down side for doing it.

Heh. Not worth being booted from AmEx for a measly ~150K MR.

[notanonymous]

Heh. Not worth being booted from AmEx for a measly ~150K MR.

400, no?

[Ephraimh]

How hard did you try to come out of the FR on top?  'I'm sorry, I didn't know.  I was just helping out a non-profit.  I didn't realize it would hurt me...I'll never do it again, etc.'

their is no way getting out of an FR once you're there, you're there...
You can have the best excuses and reasons on why you did what you did... once you're trapped the only way out, is thru that IRS thing (or bank statements in the best scenario).

[notanonymous]

their is no way getting out of an FR once you're there, you're there...
You can have the best excuses and reasons on why you did what you did... once you're trapped the only way out, is thru that IRS thing (or bank statements in the best scenario).

I've seen reports here of coming out with a CL decrease.

[AJK]

400, no?

I recently charged a total of $400k in just 3 months (June July August) my total cl (all banks/cards combined) was 150k, I charged approx 130k per month... I was basically maxed out for 3 months in a row... my score dropped sharply south from 740 to 650 in no time... after repaying everything in full (no late/minimum payment ever!) my score shot back up and is now sitting somewhere in the 770's + I earned a whooping half a million miles (between amex mr, Chase ur, and citi aa)!

Sounds good! Huh? Yeah... except amex FR'ed me... couldn't provide business evidence ... ran with the rewards... closed the accounts... before they had a chance to...

but that was basically the only down side for doing it.

Just split the "half a million miles."