Best online payment cards?

wanderingharbor61 said:Count me in with the American Express loyalists!

Just got back from my trip abroad, and I ran into one massive expense—we're talking nearly $11,000—and honestly, the thought of lugging that much cash around was just too much for me. So, I put it on my American Express. I gave them a heads-up about the big purchase beforehand, and they cleared it instantly. No drama.

I stay far away from Diners Club, and while I carry my Dell and Visa cards and they work fine, it's exactly what the title says: American Express is king.

P.S.
marko, get in touch, seriously, reach out! 😁

Checking in for the report... 😁 😁
So Goliath, what did you drop ten grand on with your American Express? A used car or something?🙂)))
Come on, spill the details—I'm curious.🙂 We can even take it to DMs.
👍

Kate Diaz said:While the official rule for American Express is 12 months, there is some flexibility... if you are a consistent payer and maintain a higher spending volume, you might qualify sooner. For instance, my monthly American Express statements usually hover between $2,000 and $1333; I was approved in my 12th month, but I actually just applied for and received additional credit today.

On a purely mathematical note, Diners Club carries a 12% interest rate while American Express is at 10%, and Diners Club charges a 3% fee compared to American Express's 2%. That's essentially the breakdown.

I paid off an American Express cash advance early about four months ago. I called them just now to request a new one, but they turned me down—they want me to submit a pay stub first.
I have other loans through Bank of America, plus a Mastercard revolving line, so I assume they're looking at the whole picture since everything is tied to my Bank of America card... am I overthinking this?

Kate Diaz said:While the official rule for American Express is 12 months, there is some flexibility... if you are a consistent payer and maintain a higher spending volume, you might qualify sooner. For instance, my monthly American Express statements usually hover between $2,000 and $1333; I was approved in my 12th month, but I actually just applied for and received additional credit today.

On a purely mathematical note, Diners Club carries a 12% interest rate while American Express is at 10%, and Diners Club charges a 3% fee compared to American Express's 2%. That's essentially the breakdown.

But if you want the real deal, you should look at the Chase cards, like the Freedom one.

Why?

Because with the Freedom card, they only start tacking on interest based on whatever balance is left over after the due date, whereas with Amex—and I think it's the same for Diners Club too, though I could be wrong—they seem to charge you from the very moment the expense actually hits the statement.

For instance: let's say you make a purchase on 09/04/2008 - $333

The due date is 10/04/2008.

You make a payment on 10/04/2008 - $67; the remaining balance is $267

With Amex: they calculate interest on $267 starting all the way back from 09/04/2008.

With Freedom: they calculate interest on $267 starting from 10/04/2008.

Oh, right... I'm talking about revolving credit cards here...

Robin Wright27 said:I paid off an American Express cash advance early about four months ago. I called them just now to request a new one, but they turned me down—they want me to submit a pay stub first.
I have other loans through Bank of America, plus a Mastercard revolving line, so I assume they're looking at the whole picture since everything is tied to my Bank of America card... am I overthinking this?

They don't necessarily see everything. Does your pay stub actually show those other loans? Or is it clean? Did you miss any payments in the last 6-9 months—like, being late by a few days while you had the loan or right after paying it off? How much credit are you asking for—is the monthly payment just too high for your income? And how much do you usually run up on that American Express?
Did they give you a reason for the denial?

One time they told me no, so I demanded to speak to a manager or someone who actually knew what they were doing because the rejection made zero sense. Turns out the clerk at the desk just completely misunderstood my number of installments and the total amount😢 Naturally, I got the credit.

Robin Wright27 said:I paid off an American Express cash advance early about four months ago. I called them just now to request a new one, but they turned me down—they want me to submit a pay stub first.
I have other loans through Bank of America, plus a Mastercard revolving line, so I assume they're looking at the whole picture since everything is tied to my Bank of America card... am I overthinking this?

In my view, the approval depends on several factors, such as:
1. the total amount requested
2. the number of installments
3. your previous spending patterns on the card
4. your history of timely payments
5. your overall creditworthiness, specifically your salary level and job stability

I highly doubt they can review all your bank loans in the thirty seconds it takes to process a quick application. Similarly, I doubt they have immediate visibility into your debts or lines of credit held with other card issuers.

Kate Diaz said:In my view, the approval depends on several factors, such as:
1. the total amount requested
2. the number of installments
3. your previous spending patterns on the card
4. your history of timely payments
5. your overall creditworthiness, specifically your salary level and job stability

I highly doubt they can review all your bank loans in the thirty seconds it takes to process a quick application. Similarly, I doubt they have immediate visibility into your debts or lines of credit held with other card issuers.

The loan amount? If it was too high, they likely scaled it back.
I spend about $3,500–$4,000 a month.
My bills are always paid on time.
I make regular cash withdrawals.
I didn't ask for a breakdown—they aren't obligated to provide one, are they?
Again, my bills are paid punctually.
They can easily see my existing debt via my Visa card online.
I'll try calling them again—we shall see.

alright, so here’s what I’m thinking

I'm looking into grabbing a Visa from JPMorgan Chase
mostly because I need to actually be able to buy stuff online, specifically through Venmo
does anyone know if those Visa cards they issue at JPMorgan Chase actually come with a CVV number?

Robin Wright27 said:The loan amount? If it was too high, they likely scaled it back.
I spend about $3,500–$4,000 a month.
My bills are always paid on time.
I make regular cash withdrawals.
I didn't ask for a breakdown—they aren't obligated to provide one, are they?
Again, my bills are paid punctually.
They can easily see my existing debt via my Visa card online.
I'll try calling them again—we shall see.

Based on how they talked to me when I called about a cash withdrawal, it seems like they just don't care for people using their cards at the ATM.

I've never even pulled cash from my American Express—honestly, I don't even know my PINs (but since everything is chip-based now, I'll probably have to actually learn 😁).

wanderingharbor61 said:Based on how they talked to me when I called about a cash withdrawal, it seems like they just don't care for people using their cards at the ATM.

I've never even pulled cash from my American Express—honestly, I don't even know my PINs (but since everything is chip-based now, I'll probably have to actually learn 😁).

Whether they like it or not—why offer the feature at all if it's an issue?
I called them back and mentioned I'd fax over my most recent pay stub so they could review my income history dating back to 2006 and assess my creditworthiness—which seems perfectly reasonable on their part.
🤷

I’ve been using an American Express Green card for eight years now—all my payments go through via automatic transfer from my JP Morgan Chase account. Every credit limit increase or cash advance I've ever requested was approved on the first try... honestly, I'm quite satisfied.👍

Robin Wright27 said:Whether they like it or not—why offer the feature at all if it's an issue?
I called them back and mentioned I'd fax over my most recent pay stub so they could review my income history dating back to 2006 and assess my creditworthiness—which seems perfectly reasonable on their part.
🤷

They asked me for a current pay stub because the one they had on file was several years old. That's just how they update their records, but I wouldn't bet against you getting that new loan approved.
If there was actually a problem, they would've told you straight up!

🙂

wanderingharbor61 said:They asked me for a current pay stub because the one they had on file was several years old. That's just how they update their records, but I wouldn't bet against you getting that new loan approved.
If there was actually a problem, they would've told you straight up!

🙂

I find that hard to doubt—my standing with them has been perfectly fine all these years...
So, why am I being forced to call them again regarding this loan?

thanks...

Robin Wright27 said:I find that hard to doubt—my standing with them has been perfectly fine all these years...
So, why am I being forced to call them again regarding this loan?

Updated and approved....
I knew American Express wouldn't leave me hanging....

Grace Lee3 said:It’s something along those lines...
For someone who—let’s say—has an impeccable credit score, I’m looking for a quick breakdown of the pros and cons. Why go through with it? Or why skip it? If you could share a couple of words about yourselves—nothing more than what’s already publicly available online—I’d love to get a more nuanced perspective on this... Thanks in advance...

I’d suggest a Discover card. You get a set limit, and everything you swipe can be split into 36 monthly installments (or fewer if you feel like it). So, you just pay one installment a month, but you can wipe out the whole debt whenever you want. Like, if your bill from $67 hits, but you have $1,000 sitting there and want to clear the balance—just pay it. It's your call when to settle up.
There are plenty of stores offering interest-free installment plans. You could even book a trip through Expedia on an installment plan with zero interest.
Cash up to $1667 per month, or use the card at any terminal for up to your approved limit.

I need some help here! A friend of mine just set up a PayPal account using her Mastercard from Bank of America. Everything was going smoothly—she’s been using it to pick up stuff on eBay without any issues so far.
Now she wants to go through the verification process so she doesn't run into any spending limits, but PayPal keeps rejecting her CVV.
She insists the CVV is correct—we're actually 😁 right now, so I can't exactly grab the card to double-check it myself—but PayPal just won't accept it. 🤷

Is it even possible for her to finish the registration and keep shopping if she can't get past this number? 😕

Nah. She probably needs to enter a "verification number." Check the first page of the thread to read up on that. 😉

Let me jump into this happy little crowd 🙂

Hey everyone!
I'm looking at opening or extending a foreign currency account, so I'm hitting you guys up with a few questions and hopefully some solid advice..

I basically need a foreign currency account so I can actually buy stuff online, which means I definitely need a card with a CVV on the back, right?
I've already got two VISA Electron cards floating around—one tied to my Z%A foreign currency account and another for my Bank of America checking. Both are a couple of years old and neither one has a CVV code on the back.

I technically already have a foreign currency account over at Z%A, but since my paycheck hits my Bank of America account, I was thinking about just opening a new foreign currency one there. If I’m reading this right, the new Bank of America VISA Electron cards come with a CVV and work for online shopping (set me straight if I'm tripping).

So, here's the dialogue between deprived_soul and darkmaker94:

casualfalcon84 said:Fine, let me add my own foolishness to the mix 😛

So, here’s the deal: I have a standard checking account at Chase, and I just got my Visa debit card. It has the CVV on the back and everything, but looking at the discussions here, everyone seems to be saying you need a foreign currency account. Does that mean I actually need to open a separate account, or can I just deposit $100 into my current one and call it a day? In other words, is it even possible to deposit a foreign currency directly into a domestic checking account? I’m clearly out of my depth with these banking structures, so any clarity would be appreciated 😢

darkmaker94 said:Man, you've got enough in that account. 😁 Just use that one to wire the cash.

casualfalcon84 said:So, 🙂 does that mean PayPal will just pull the dollars from my account and settle everything in euros with the seller?

darkmaker94 said:Yeah.

Does this actually work—like, when you’re paying online, you just punch in your checking account card number and it pulls the cash straight from there even if you don't have a foreign currency account?
Just to be clear, my current debit card doesn't even have a CVV, so I really need to swap it out for something decent..

On the flip side, if I’m following what Neuson here is saying, it’s way safer to just keep a separate foreign currency account where you can pull whatever amount you need without worrying about some hacker cleaning out your entire life savings.

That's all I've got for now.. 😬
Thanks in advance for the help 🙂

With Bank of America Electron, you get the CVV on the back.
Yeah, the foreign currency account is way safer. You just load up whatever amount you actually want to spend, so once it's gone, it's gone. No one can hit you with unexpected fees because you can't go into the negative. 😉

alright..
so how are you even gonna fund that thing? you just gonna swing some cash over from your checking account or hit up a Zelle transfer online?