British Expats
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British Expats (https://britishexpats.com/forum/)
-   The Maple Leaf (https://britishexpats.com/forum/maple-leaf-98/)
-   -   Things that would make Canada better for you ... (https://britishexpats.com/forum/maple-leaf-98/things-would-make-canada-better-you-642150/)

Alan2005 Nov 26th 2009 4:59 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127250)
Amex cards, proper Amex charge cards, have no limit.
Never had an amex card, so I didn't know that. Wonder how banks treat infinite credit lines on their balance sheets.

iaink Nov 26th 2009 5:09 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Alan2005 (Post 8127380)
Never had an amex card, so I didn't know that. Wonder how banks treat infinite credit lines on their balance sheets.
Its not a credit card, its charge card;)

dbd33 Nov 26th 2009 5:17 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Alan2005 (Post 8127380)
Never had an amex card, so I didn't know that. Wonder how banks treat infinite credit lines on their balance sheets.
I don't suppose they worry, Amex doesn't allow the user to carry a balance, the bill has to be paid at month end, so it's not long term debt.

Alan2005 Nov 26th 2009 5:30 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127412)
I don't suppose they worry, Amex doesn't allow the user to carry a balance, the bill has to be paid at month end, so it's not long term debt.
They also check each purchase based on your credit rating apparently; so if you try and blow the lot on bulgatti veyron on a $50k salary they are probably going to tell you to get lost.

The $300k guy must have a fairly high net worth as they say here.

dbd33 Nov 26th 2009 5:34 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Alan2005 (Post 8127438)
They also check each purchase based on your credit rating apparently
I very much doubt that. I believe they validate against your history with them rather than primarily against external sources. I know that I was able to charge $20,000 in a month at a time when my credit rating was at the low end of "fair".

bodgerx Nov 26th 2009 5:38 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Oink (Post 8127268)
Who takes Amex anymore?
Now Diners Club, that was top 1970s class.
Which planet do you come from?

JonboyE Nov 26th 2009 5:38 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127444)
I very much doubt that. I believe they validate against your history with them rather than primarily against external sources. I know that I was able to charge $20,000 in a month at a time when my credit rating was at the low end of "fair".
That is what I understand as well. The guy in question was an antique dealer and made 6 figure charges to his card several times a year.

Alan2005 Nov 26th 2009 5:38 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127444)
I very much doubt that. I believe they validate against your history with them rather than primarily against external sources. I know that I was able to charge $20,000 in a month at a time when my credit rating was at the low end of "fair".
No idea, but this is what they claim

Originally Posted by amex website
With a charge card, you are granted more purchasing power with no pre-set spending limit. While your spending is not unlimited, your purchases are approved based on a variety of factors, including your credit record, account history and personal resources. Proof of resources and security may be required.
(link)

dbd33 Nov 26th 2009 5:41 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Alan2005 (Post 8127453)
I think it's account history that's critical. They never question my billing travel related items but did call me when I bought a car with the card.

Souvy Nov 26th 2009 5:47 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127372)
Not a problem for me. I don't suppose there's been a day in the past fifteen years when I didn't use the Amex.
That was the problem for me. It's a corporate card. I only use it for trips. I hadn't used it in quite a while because I hadn't been tripping. Then I made several largish transactions in the space of a few hours. Bells went off.

Easily sorted but I'll remember for next time to warn them.

dbd33 Nov 26th 2009 5:56 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Souvy (Post 8127464)
That was the problem for me. It's a corporate card. I only use it for trips. I hadn't used it in quite a while because I hadn't been tripping. Then I made several largish transactions in the space of a few hours. Bells went off.

Easily sorted but I'll remember for next time to warn them.
When there's been a card issue they've called me on the cell and it's been resolved there and then, I've never had a transaction refused.

Not having a corporate card has served me well, I charge all manner of corporate stuff to my personal card and then get reimbursed; conveniently forgotting the taxable benefit of the points. Points which got me, and an American who seemed not to like you, to Australia and points which redecorated the bathroom.

Alan2005 Nov 26th 2009 5:57 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127456)
I think it's account history that's critical. They never question my billing travel related items but did call me when I bought a car with the card.
Yeah. Though I guess the fundamental thing is that there are checks and it's not 'unlimited'

dbd33 Nov 26th 2009 6:04 am
Re: Things that would make Canada better for you ...
 
Originally Posted by Alan2005 (Post 8127477)
Yeah. Though I guess the fundamental thing is that there are checks and it's not 'unlimited'
I think it is unlimited. In fact that's the whole reason for having it; I know that if I have to spend a lot in one month I don't have to make arrangements for that. It may be that unusual purchases, for me, get questioned but that's not a matter of concern; I just want to be able to rent more rooms and run up a bigger bar bill than usual if I feel the need.

Souvy Nov 26th 2009 6:11 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127475)
When there's been a card issue they've called me on the cell and it's been resolved there and then, I've never had a transaction refused.

Not having a corporate card has served me well, I charge all manner of corporate stuff to my personal card and then get reimbursed; conveniently forgotting the taxable benefit of the points. Points which got me, and an American who seemed not to like you, to Australia and points which redecorated the bathroom.
The corporate card does have the benefit of my not having to deal with the bill. One does have to be crafty, however. Some things never go on the Amex. I never charge bar bills to the hotel room. I do spend a fair bit on taxis. I provide receipts, though, natch.

Alan2005 Nov 26th 2009 6:11 am
Re: Things that would make Canada better for you ...
 
Originally Posted by dbd33 (Post 8127483)
I think it is unlimited. In fact that's the whole reason for having it; I know that if I have to spend a lot in one month I don't have to make arrangements for that. It may be that unusual purchases, for me, get questioned but that's not a matter of concern; I just want to be able to rent more rooms and run up a bigger bar bill than usual if I feel the need.
Well, given that amex can choose to limit what you spend if they wish I'll stick by my definition (though this may be an irrelevance to you)


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