Back in Feb, my sister bought a new Honda on her platinum Amex card. I negotiated the car price (6.5% off the full out the door price) and the (1.75%/60m) CU loan, and, about 6 months before she bought the car, the Amex credit limit increase from 10k$ to 25k$.
Day at before the sale, I called Amex to see if their system would choke on the 22k$ price. They checked and said it would go, and would have gone without checking, with no problem.
So she bought it using her Apple Watch as my 83yo mom (who was likely the Apple Pay launch day user ever) made a video of the event. (Finance manager at dealer said "I've never seen such a large charge before, and was amazed it went through).
Sis got 32k Delta Skymiles (22 for the car, plus a bonus for spending over 25k$ on the card that year). I got 10k Delta Skymiles too (because at the time I raised the limit, I told them we would use another card if they didn't toss 10k miles my way for the trouble I would go through to get the dealer to accept the card and they would lose their 300$ net if they tried to negotiate me down. When I asked for my miles 6 months after negotiating the deal, AMEX tried to say they couldn't find a record of my side deal and offer me 3k, then 5k. I didn't give up and rode that bronco to the promised 10k reward).
Next day we paid the card balance with the bank loan.
Sorry i can't post the video as the type was rejected by the site. Here's a still if her going in for the payment kill.
That's one heck of a high limit on his credit card!
Almost certainly an AmEx or similar charge card. Cards used for high-value purchases like this have no preset limit, but carry no revolving balance. You have to pay them in full. The idea is to give you the convenience of paying up front like a credit card, instead of having to wait a week while investments are sold and funds shuffle around. I have accounts at a few investment banks, and they typically take two or three business days to complete transfers. Some make the funds available ahead of their actual clearing, but that's a little like a check. It can fail very badly if the stock you're trying to sell tanks overnight.
The AmEx black card for sure. No limit, but I think you are required to spend at least $200,000 a year on it to have it. First person to get one was Jerry Seinfeld.
The largest purchase with a Centurion card is $170M to purchase this NSFW painting.
For those not living in the U.K., you can have a debit card on ApplePay. Debit cards take money from your bank account. I used my debit card pre ApplePayto buy a new car. I guess the limit on purchase relates to how much is in your account.
And debit cards rarely have any rewards but merchants like them because the fees are much smaller than a cc.
Use of ApplePay perhaps indicates purchaser is a tech gazillionaire who is very comfortable using Apple products and is a car enthusiast with a particular affinity for Brit autos. Jony Ive?
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Day at before the sale, I called Amex to see if their system would choke on the 22k$ price. They checked and said it would go, and would have gone without checking, with no problem.
So she bought it using her Apple Watch as my 83yo mom (who was likely the Apple Pay launch day user ever) made a video of the event. (Finance manager at dealer said "I've never seen such a large charge before, and was amazed it went through).
Sis got 32k Delta Skymiles (22 for the car, plus a bonus for spending over 25k$ on the card that year). I got 10k Delta Skymiles too (because at the time I raised the limit, I told them we would use another card if they didn't toss 10k miles my way for the trouble I would go through to get the dealer to accept the card and they would lose their 300$ net if they tried to negotiate me down. When I asked for my miles 6 months after negotiating the deal, AMEX tried to say they couldn't find a record of my side deal and offer me 3k, then 5k. I didn't give up and rode that bronco to the promised 10k reward).
Next day we paid the card balance with the bank loan.
Sorry i can't post the video as the type was rejected by the site. Here's a still if her going in for the payment kill.