Hi, I'm trying to get a website in Flippa costing like 56k. I have over 70k balance in my credit card but they don't let me use more than 5k in escrow. Does anyone know if i'm missing something? or I just can't get it with credit card?
I don't know much about flippa but I do know that if you are transferring money using your visa - as opposed to buying something - you start paying interest right away.
Most credit card companies go by your credit score. The higher your credit score the higher the credit limit you usually have. Calling your cc customer support asking to increase the credit limit should help. But I doubt they will increase it all the way to 56K.
He says his credit card limit is already $70k - that's an extraordinary amount. I wonder how often that happens?
No, you're confusing balance with credit limit. Credit limit is usually calculated on a monthly basis. It's the amount a cc company is willing to lend you each month. Just because you have a balance of $70K doesn't mean you can use it all at once at any given time.
I'm sorry I should have been more specific in the first place. I have credit limit of over 70k with 3 cards combined (not even 1% used). I was going through the flippa escrow credit card details where I saw they allow only 5k. That was what bothering me. I have a promotional interest but i don't mind paying interest if that's what it takes.
Well i think you should go to your bank and say to them to increase your limit ,also contact flipa and tell them to help you out