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      11-29-2012, 01:50 PM   #23
Optherion
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Quote:
Originally Posted by Cyclone Chris View Post
You could charge the whole car on an Amex card; however, I'm sure they'll be calling you as the card gets declined initially. Once you verify the transaction they should let the charge through. Just be ready to pay it in full within 30 days.
Most dealers will not do this. Most will not even take a $5,000 deposit on CC because of the fee's they are charged. If they have 3% CC fee's and Amex is usually higher than that, they could be looking at $1,500 lost on the deal. My dealer doesn't take more than $2,000 on a credit card.

However, my Wells Fargo Platinum actually sent me a check book and allows me to write a check and use the credit card account as if it was a checking account. There is 14% interest if you don't pay it off in 30 days and each check gets a one time fee of $25. However I made a down payment of $25,000 and then paid it off right away. Netted me a nice set of airline tickets first class to Hawaii. Not bad for $25
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      11-29-2012, 07:00 PM   #24
kscarrol
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While I agree that based on my credit line w/ Amex I could technically charge the entire price of the car, no BMW dealer here in the states will allow you to do it. Optherion is spot on that the fees cut into the profit and that dealers will limit the amount they will allow you to charge.
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      11-29-2012, 09:11 PM   #25
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Quote:
Originally Posted by Cyclone Chris View Post
Doesn't the black cost about 20k per year? And I think you need to make half a million bucks a year just to get it.

If I had time to travel more, I would definetly get the platnium, however, I can't justify the $600+ annual fee. I'll just stick with my green card for now, and keep raking up those reward points. I should have a free 7 day cruise for 2 in about a years time.

Black cost roughly 2.5k a year. I believe the initial fee is now 10k (including first year fee due upfront). Platinum is really nice for the price. I think that's $450 a year. I use to travel really frequently but not so much now and I still find use for these cards. You're definitely right, it's much more so for travel use though.
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      11-29-2012, 09:14 PM   #26
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Quote:
Originally Posted by kscarrol View Post
While I agree that based on my credit line w/ Amex I could technically charge the entire price of the car, no BMW dealer here in the states will allow you to do it. Optherion is spot on that the fees cut into the profit and that dealers will limit the amount they will allow you to charge.
Yep, it works when you pay MSRP or when there is a markup due to demand. They usually might let you slide at that point. Most dealers wouldn't accept more than 5k especially from AMEX since they charge the most.
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      11-29-2012, 09:15 PM   #27
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I <3 my amex cards ! corporate and blue cash right now
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      12-07-2012, 10:52 PM   #28
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As many others have said, our center allows up to 5k on CC.
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