View Full Version : RED Pre-payments on credit cards?
Greg Voevodsky
04-09-2007, 06:22 PM
I just realized that I would really like the air miles on my Visa when I purchase my RED. However, my credit limit is not $25-$30,000. I do, however, have it saved up. So, would RED consider 2 or 3 pre-payments - so I can spread the bill over 2 or 3 visa statements? I'd be willing to deposit 10,000 or 20,000 a month or 2 before my camera is delivered.
By the way, for RED owners, this is a great way to increase your credit rating if you can pay this off. When I shot my short 35mm film for $20,000+ several years ago, my credit rating went way up along with my charge limits. Something to think about, if you were thinking of writing a check. I wouldn't recommend keeping $10,000+ at 10-20% interest rates on credit.
Some credit cards also come with things like 3 month purchase protection (drop your Red camera off a cliff? no problem...for the first 3 months) and warranty extension (the credit card pays for repairs after the manufacturer's warranty expires). Not sure if the purchase must be made in one lump sum for these perks to apply. Worth looking into.
HD Hildebrand
04-09-2007, 06:55 PM
Pay $20,000 to your visa bill in advance of buying the camera.
Rick Darge
04-09-2007, 07:24 PM
Yes but what if your credit is limited to $3K ?
Michael Schrengohst
04-09-2007, 07:46 PM
Yes but what if your credit is limited to $3K ?
I guess you could buy the EVF and the extension arm.
Alexis Hanawalt
04-09-2007, 07:50 PM
You can pay more than your credit limit towards the card - but I don't think it will have the same positive ramifications for increasing credit limits or accumulating any sort of points - I think those would still be limited to the monthly limit.
donatello b
04-09-2007, 07:59 PM
seeing how RED would have to pay 1-4% in fees to accept CC i doubt if they would accept the whole 17.5 on body ... and if they do i'll go for the milage too
Ken Corben
04-09-2007, 08:32 PM
I love my miles card - first class round trip to Fiji last year. Plan on using it for all RED purchases big time!
TIP: Register your card(s) and verify it now with paypal since that is the established RED payment method.
Jeff Brue
04-09-2007, 08:58 PM
Err I would be really suprised if they took credit cards on 20k purchases. Visa normally charges 1-2%. Thats 100-200 bucks that gets charged to the vendor.
Thom Steinhoff
04-09-2007, 08:59 PM
All of this is great conversation, and I, too, would buy everything on VISA if it is allowed, but we still have yet to hear from anyone at RED.
Jim, can accept credit card or paypal as payment for any and all Red purchases or is there a limit? Can I really spend $30+K through your online store with my visa card or will you only accept wire transfers and do final orders over the phone?
Jay A. Kelley
04-10-2007, 11:09 AM
They will take credit cards. Trust me.. I have bought all my cameras via my credit card
Jay
Joe Aurili
04-10-2007, 11:34 AM
That would not work on any of my cards. Some of my cards, you can not pay more then is owed. Some you can pay no more then %110 of the current balance.
You can pay more than your credit limit towards the card - but I don't think it will have the same positive ramifications for increasing credit limits or accumulating any sort of points - I think those would still be limited to the monthly limit.
Zakaree Sandberg
04-10-2007, 01:22 PM
hell yah,
ill make my initial purchase on my card...
ill apply for one with either airline miles or get a costco AE.. then pay the card off in my first bill with my small business loan
Curran Giddens
04-10-2007, 05:03 PM
I glad I don't really have a credit limit on my Amex. I should probably call them though, right before my card is charged $30k!
Craig Bowman
04-10-2007, 05:53 PM
I have purchased lots of video stuff at more than triple my card's limit. The way it worked was, the supplier billed almost to the card's max. It shows up on the card online the next day. I pay that amount instantly on the card online and it is recorded the following day. Then the supplier bills either the balance or if necessary another almost max amount and you pay it off when it shows up online the next day again etc. Once your at a point where the last billing on your card is for the final balance, the company ships you your goodies. You can then pay off that last bit as you normally would. Suppliers are happy because they don't ship until the last billing has been approved and you are only talking a matter of a few extra days until shipment.
Thom Steinhoff
04-10-2007, 06:16 PM
I glad I don't really have a credit limit on my Amex. I should probably call them though, right before my card is charged $30k!
Don't think you don't have a limit unless you've tested this level of limits before. They say you don't until you try to charge outside of your "normal charging patterns" in which case it will be denied or forced to wire a check immediately. Happened a few times to me with Amex on trips ("...but you always said it was unlimited...":angry01: ) so I eventually dropped them.
Amex, however, may allow you to pay it in advance to build up a cash balance for you to charge against. A friend of mine had to do this a few years back for about $100K worth of stuff and he was able to prewire the money in batches. Just call them in advance.