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Q: Down payment on Truck using American Express. ( No Answer,   1 Comment )
Question  
Subject: Down payment on Truck using American Express.
Category: Business and Money > Finance
Asked by: mylordchief-ga
List Price: $10.00
Posted: 10 Sep 2005 13:44 PDT
Expires: 10 Oct 2005 13:44 PDT
Question ID: 566537
Can you make a down payment on a truck using an american express? Are
you limited to the cash adavance amount on a card or the credit limit?
I want to put 10K down on a truck. I have 3400 in cash adavance and
17,100 of credit limit. I also wanted to do this because my American
express has 0% APR for the first year of purchases.

Request for Question Clarification by sublime1-ga on 10 Sep 2005 14:12 PDT
mylordchief...

One of the latest tricks is to use a credit card to pay
for the down payment of a vehicle, in order to earn 
flyer miles, as noted in this article at Kiplinger.com:

"One favorite mile collection strategy is to charge the
 down payment on a car. However, some car dealers now
 impose a surcharge of between $75 and $100 for using
 a credit card."
http://www.kiplinger.com/personalfinance/features/archives/2001/July/spending/frequentflier.html?

So you'd need to beware of that surcharge.

But, unless things have changed:

"All purchases on your AMEX card must be paid at the end
 of the month. No exceptions!"
From CreditCardNation.com:
http://www.creditcardnation.com/member/fullmodule2_part1.html

Are you sure that's what you want to do?
Does this answer your question, or is there more you need
to know?

sublime1-ga
Answer  
There is no answer at this time.

Comments  
Subject: Re: Down payment on Truck using American Express.
From: philnj-ga on 12 Sep 2005 14:07 PDT
 
Ask the dealer.  I put a $2k down on a car with my AMEX four years
ago.  I remember a discussion about people wanting to charge cars on
their cards, but I don't remember the details.

The dealer has a very specific agreement with American Express that
covers fees and other rules.  They will certainly let you know what
they are willing to do.

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