best CC if spending $300K+ a year

[kuhdlie]

saw a post for $20k a year, but i spend over $300k for my business purchases and was wondering what's the credit card with the best value. currently have the rbc avion card. thx

[Drew_W]

Use the search function coupled with your brain. Seriously. I'm sure everyone on this forum is getting SICK of these "best cc" threads. Why is it you can't look at the cards, put in some numbers, see how many points they get you, what you can redeem said points for and then do YOUR OWN comparison based on what rewards YOU want to reap? Sheesh. RFD members do not have all the answers to your life.

[miss_swan]

Drew got pushed over the edge this time lol.

Anyways, if you're spending 300k a year why don't you look into the Mastercard Centurion?

Or maybe do a search like Drew suggested ....

[Drew_W]

Drew got pushed over the edge this time lol.

Anyways, if you're spending 300k a year why don't you look into the Mastercard Centurion?

Or maybe do a search like Drew suggested ....

Seriously, I write long posts on all things credit card...they're all on this forum already. It should be abundantly clear what the front running cards are, then it's just matter of looking at which is best for your OWN situation. If you don't travel, what good is a travel rewards card? We don't KNOW what you want to get out of your card. Some people just want straight cashback. Others are good playing the points game. Because everyone is so DIFFERENT, there is no way for us to give you an answer. Please read the forum....we'll all be happy to answer specific questions about specific cards. But asking a broad question like this without having the appearance of even having read a few pages deep into this forum is rather ignorant.

[Drew_W]

Sorry to be so blunt...but really.

[lofidelity]

I think miss_swan means AMERICAN EXPRESS Centurion. As far as I know you cannot apply for the card directly, but can only get one by invitation. If you can get one, it would certainly impress your clients at business functions.

Otherwise, a Amex Platinum, or a Business Gold card would be appropriate. The Business cards would allow you to track your business expenses more easily.

[f00kie]

I think miss_swan means AMERICAN EXPRESS Centurion. As far as I know you cannot apply for the card directly, but can only get one by invitation. If you can get one, it would certainly impress your clients at business functions.

Otherwise, a Amex Platinum, or a Business Gold card would be appropriate. The Business cards would allow you to track your business expenses more easily.

Quickly looked this up, as I was curious, and it's not by invitation only anymore (http://en.wikipedia.org/wiki/Centurion_Card).

$5,000 USD to join and $2,500/year membership fee. Joining requires meeting very tough guidelines, whatever those are, but the perks seem amazing. I want.

[kuhdlie]

wow, nice rant drew hehe, excuse a newbie for not reading all your posts but i didn't really find a clear answer on here yet. I did ask for the card with the best "value" i.e. cashback or travel or gifts, whichever ends up with the most cash value on the open market.

the perks on the centurian are tempting :-P but a lot of places don't take american express, so probably can't even find enough stores to spend the $250k minimum required.

so basically only visa or mastercard, preferably visa, and was just wondering if anyone have better choices than rbc or cibc right now. thanks.

[miss_swan]

I think miss_swan means AMERICAN EXPRESS Centurion. As far as I know you cannot apply for the card directly, but can only get one by invitation. If you can get one, it would certainly impress your clients at business functions.

Otherwise, a Amex Platinum, or a Business Gold card would be appropriate. The Business cards would allow you to track your business expenses more easily.

Yes, AMEX ... not MC. I stand corrected.

[Drew_W]

wow, nice rant drew hehe, excuse a newbie for not reading all your posts but i didn't really find a clear answer on here yet. I did ask for the card with the best "value" i.e. cashback or travel or gifts, whichever ends up with the most cash value on the open market.

the perks on the centurian are tempting :-P but a lot of places don't take american express, so probably can't even find enough stores to spend the $250k minimum required.

so basically only visa or mastercard, preferably visa, and was just wondering if anyone have better choices than rbc or cibc right now. thanks.

I've posted an example previously showing the Avion getting over 10% return (cash value) on a business flight to Asia. There is no CLEAR answer for reasons I previously mentioned, but in MY OPINION the Avion is the best high spender card in Canada, esp if you can take advantage of the BA transfer bonus.

[kuhdlie]

i'm kinda looking for a card with good cash back instead of air miles, cos i've been piling up these air miles points and reselling them. would be easier to just collect the cash back.

[Drew_W]

i'm kinda looking for a card with good cash back instead of air miles, cos i've been piling up these air miles points and reselling them. would be easier to just collect the cash back.

Then if you want cashback, why do you want us to compare the value of points for you?

All credit cards that give more than 1% cashback are capped.

[max88]

Spending $300k+ should give some negotiating power to demand higher rebate. Call up your bank and say you spend $200k+ (start low) and ask for a deal.

[BadDrafter]

Spending 300K? I had a conversation with a guy in the purchasing dept. at work about this very thing two weeks ago.

I doubt the vendors you deal with (if they even accept it) would like the extra charge that AMEX puts on transactions that large so a VISA or MASTERCARD would be in order.

http://www3.telusnet/CalgaryBen/

From this chart you can see that some of the no fee cash back cards top out. The capital one card does not exist anymore so pay no attention to it.

Edit:

The black card is for people who spend all of that stuff on pleasure anyways and most pleasure is high margin so the AMEX fee is negligible for those types of businesses. Also you would be spending 3000 dollars on serviced based rewards that are questionable at best. It's just a status symbol. A real red flag dealer would never get such a card because you have to waste too much money on it. Pass.


http://en.wikipedia.org/wiki/Black_card

[Drew_W]

Spending $300k+ should give some negotiating power to demand higher rebate. Call up your bank and say you spend $200k+ (start low) and ask for a deal.

What is the rationale for starting LOW in this negotiation?