Help a Reader: What's the Best Credit Card for a Very High Charger

Here's a question I had on my post titled How You Can Earn Over 2.6% Cash Back by Using a Combination of the American Express Blue Cash and Chase Freedom Cash Visa Credit Cards:

Well I have a challenge for all of you experts: I will be spending $420,000/month until Dec 31, 2007 (after that $5000/month) on plastic goods for distribution (non-everyday spend). I can have any American Express personal card. (I don't have an SSN, and the only card that was willing to take me was Amex- trust me I've tried.) Which Amex personal card will offer me the best bang for the buck? My total spend until Dec. will be $840,000. I can use the blue cash and get 1.5%, or the SPG and get 840,000 Starwood points, or Delta etc? I don't mind whether it is cash or miles -- as long as the value is the highest.

I know that the Blue Cash from American Express card has been named the best credit card for high chargers, but this guy is over the top of what most people consider a high spender. Anyone have a suggestion for him?

Comments

[rocketc]

How do you not have a ss number? You must not be a citizen? I wonder if even Amex is going to go for $400K + in spending a month.

[segfault]

Ask if the suppliers will give a discount for paying cash since they won't have to pay the fees for accepting a credit card on such large purchases.

[MelMoitzen]

I can only speak for cash rebate cards--you need to make your own determination as to what miles/points are worth to you on other cards.

You'll easily blow away the annual maximum rebate on any other cash rebate card that pays greater than Blue's 1.5%. So unless you want to apply for and spread your purchase over a dozen different cards, you'll want to stick with the Blue.

But the big question--how do you guarantee that Amex will accept a $400K charge on your personal card? True, the card has no formal set limit, but "purchases are approved based on credit record, account history, and personal resources." So be aware they can diplomatically say "no." Typically, a business accepting $400K Amex payments is taking them on Amex's non-rebate business purchasing cards, not personal cards.

I'm with segfault. Ask for a cash discount, see what they come up. If they come up with none, then charge the maximum you can on an Amex Blue.

[guniadi]

how about amex with membership rewards? that card have no pre-set spending limit.

[James]

@segfault: Unlike the majority of Amex's cards, Blue (Regular, Cash and Sky versions) does have a fixed credit line. Good luck for the guy without an SSN for Amex to grant him a card with that high of a credit limit!

[thomas]

I would go with the starwood if you do a lot of traveling. You can get a ton of points for that, of which can be converted to miles. You can convert 20k starwood points to 20k miles +5k bonus. The more points you have, the higher the bonuses.

of course, how are you going to get a credit limit that big?

[tax settlement]

At that level, he will qualify for an AmEx Black card. They don't exactly advertise those kinds to the general public but the benefits far exceed the rewards he'd receive from any other card out there. Do a quick google search for amex black card and you'll see.