# unlimited credit **URL:** \ **Category:** Factual Questions\ **Created:** [April 4, 2003, 9:09am UTC](https://boards.straightdope.com/t/unlimited-credit/166423 "2003-04-04T09:09:42Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Dolomite21](https://avatars.discourse-cdn.com/v4/letter/d/e5b9ba/32.png) [@Dolomite21](https://boards.straightdope.com/u/Dolomite21)\ **Post date:** [April 4, 2003, 9:09am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/1 "2003-04-04T09:09:42Z")
Is there such a thing? What kind of credit card does Bill Gates carry…if any? ---
**Author:** ![Mangetout](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mangetout/32/19_2.png) [@Mangetout](https://boards.straightdope.com/u/Mangetout)\ **Post date:** [April 4, 2003, 9:17am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/2 "2003-04-04T09:17:12Z")
The Earth itself is finite, so there’s only so much of _anything_ that somebody could sell you, I suppose that there are _services_ as well as _products_, but even then, assuming that the vendor has some sort of sensible business model that includes overheads and other costs, they would have to limit your credit or start collecting from you at some point (otherwise they would be driven to insolvency by their own generosity). ---
**Author:** ![John\_Kentzel-Griffin](https://avatars.discourse-cdn.com/v4/letter/j/ccd318/32.png) [@John\_Kentzel-Griffin](https://boards.straightdope.com/u/John_Kentzel-Griffin)\ **Post date:** [April 4, 2003, 9:25am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/3 "2003-04-04T09:25:23Z")
**Dolomite21** , I’ve closed the duplicate thread you opened in ATMB. Please do not repost threads. Let a moderator move it for you. We live to move threads. **DrMatrix** - General Questions Moderator ---
**Author:** ![Dolomite21](https://avatars.discourse-cdn.com/v4/letter/d/e5b9ba/32.png) [@Dolomite21](https://boards.straightdope.com/u/Dolomite21)\ **Post date:** [April 4, 2003, 9:26am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/4 "2003-04-04T09:26:30Z")
Ya…mr. 9056 I get that. I guess my question is…what is “the shit” for lack of better words…of credit cards. Are they “platinum” or “gold” or rolled on the thighs of virgins. And instead of saying “unlimited credit” do they provide a provision that basically says…“you won’t be turned down…period” ---
**Author:** ![Kjetil](https://avatars.discourse-cdn.com/v4/letter/k/bc8723/32.png) [@Kjetil](https://boards.straightdope.com/u/Kjetil)\ **Post date:** [April 4, 2003, 10:40am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/5 "2003-04-04T10:40:53Z")
> [@](#): > > \*Originally posted by Dolomite21 \* > **or rolled on the thighs of virgins.** Well, they’re not rolled, of course, since they’re flat. Maybe they sit on them? Or stomp, like wine. The Crédite region of France is full of great big vats full of plastic, with virgins stomping around in them all day. I didn’t have anything useful to add, no. ---
**Author:** ![Dolomite21](https://avatars.discourse-cdn.com/v4/letter/d/e5b9ba/32.png) [@Dolomite21](https://boards.straightdope.com/u/Dolomite21)\ **Post date:** [April 4, 2003, 10:59am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/6 "2003-04-04T10:59:42Z")
Yes Kjetil…lovely input However I am well aware that credit cards are not rolled in “great big vats full of plastic”…or maybe they are…not my point. My point by saying they are “rolled on the thighs of virgins” was a reference to cuban cigars “hard to obtain…much like the credit card I mentioned above” so is there anyone with anything usefull to add? ---
**Author:** ![Cek](https://avatars.discourse-cdn.com/v4/letter/c/e274bd/32.png) [@Cek](https://boards.straightdope.com/u/Cek)\ **Post date:** [April 4, 2003, 11:39am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/7 "2003-04-04T11:39:12Z")
Platinum cards are the top of the line card. However no card offers unlimted credit. If you need more credit than the card allows ( the ones I’ve seen have limts of $100,000) just get another card or two. ---
**Author:** ![Derleth](https://avatars.discourse-cdn.com/v4/letter/d/b9e5f3/32.png) [@Derleth](https://boards.straightdope.com/u/Derleth)\ **Post date:** [April 4, 2003, 11:56am UTC](https://boards.straightdope.com/t/unlimited-credit/166423/8 "2003-04-04T11:56:46Z")
Unlimited credit means unlimited trust. If you can find someone willing to trust that you’ll pay back _anything_, you have unlimited credit. This is balanced by how much the lender has to lend. If the lender is only good for, say, $50,000,000, there’s your cap. Unless, of course, the lender can borrow more from _another_ lender. But that only shifts the problem another level. It doesn’t solve it. I don’t see how unlimited credit could exist at all, even in theory, given the above. ---
**Author:** ![Achernar](https://avatars.discourse-cdn.com/v4/letter/a/e274bd/32.png) [@Achernar](https://boards.straightdope.com/u/Achernar)\ **Post date:** [April 4, 2003, 12:27pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/9 "2003-04-04T12:27:19Z")
> [@](#): > > \*Originally posted by Cek \* > Platinum cards are the top of the line card. However no card offers unlimted credit. If you need more credit than the card allows ( the ones I’ve seen have limts of $100,000) just get another card or two. Ha, I’ve got two “platinum” cards, and there’s no way these are the top of the line credit limits for their respective banks. Let’s just say my limit is _slightly_ less than $100K. 😃 ---
**Author:** ![Catalyst](https://avatars.discourse-cdn.com/v4/letter/c/e47774/32.png) [@Catalyst](https://boards.straightdope.com/u/Catalyst)\ **Post date:** [April 4, 2003, 12:37pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/10 "2003-04-04T12:37:27Z")
Okay, so we’ve established that unlimited credit is literally impossible, but how about _promises_ of unlimited credit, or at least an unspecified credit limit? I suppose then the question is, what about "virtually unlimited’ credit? i.e. there’s a limit _somewhere_ (either the credit company’s own worth or _their_ borrowing power), but there’s no way that anyone would realistically reach that limit. ---
**Author:** ![brianmelendez](https://avatars.discourse-cdn.com/v4/letter/b/65b543/32.png) [@brianmelendez](https://boards.straightdope.com/u/brianmelendez)\ **Post date:** [April 4, 2003, 12:40pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/11 "2003-04-04T12:40:30Z")
> [@](#): > > \*Originally posted by Cek \* > \*\*Platinum cards are the top of the line card. However no card offers unlimted credit. If you need more credit than the card allows ( the ones I’ve seen have limts of $100,000) just get another card or two. \*\* I have seen at least one bank that has rolled out a “titanium” card, implying that titanium credit is “better” than platinum credit. Just a marketing gimmick, as far as I can tell, since I can’t imagine that any lender would target truly top-of-the-line credit users through the mass media. ---
**Author:** ![Mangetout](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mangetout/32/19_2.png) [@Mangetout](https://boards.straightdope.com/u/Mangetout)\ **Post date:** [April 4, 2003, 12:53pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/12 "2003-04-04T12:53:24Z")
> [@](#): > > \*Originally posted by Catalyst \* > \*\*Okay, so we’ve established that unlimited credit is literally impossible, but how about _promises_ of unlimited credit, or at least an unspecified credit limit? I suppose then the question is, what about "virtually unlimited’ credit? i.e. there’s a limit _somewhere_ (either the credit company’s own worth or _their_ borrowing power), but there’s no way that anyone would realistically reach that limit. \*\* The limit of what a vendor would reasonably be prepared to sell you on a credit card would (I think) be reached first. If the vendor is paying 3% fees on credit card transactions, that starts to be a considerable sum once the customer is splashing out big time. ---
**Author:** ![Bricker](https://avatars.discourse-cdn.com/v4/letter/b/977dab/32.png) [@Bricker](https://boards.straightdope.com/u/Bricker)\ **Post date:** [April 4, 2003, 1:05pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/13 "2003-04-04T13:05:29Z")
Let’s talk about the diffrence between “charge cards” and “credit cards”. My American Express card has no pre-set spending limit; in one month, I charged over $12,000 on it. (Travel and hotel expenses for me and three co-workers, all of which was reimbursed by my employer before the bill came due). I have no idea how much they’d let me charge, but it’s at least $12,000 in one month. 🙂 But the deal with American Express is that you must pay the bill in full each month. It’s not a credit card - it’s a charge card. Now, my Citibank AA Mastercard (which gives me 1 mile on American Airlines for every dollar I spend) has a $10,000 revolving credit limit. But there is no penalty for _additional_ charges over the $10,000 mark - it’s just that anything over $10K must be paid in full every month. So, starting with a zero balance, if I put $13,000 on the Citibank card in one month, I’d have to pay them $3,000 as a minimum, and I could carry a $10,000 balance, on which I would be charged interest. Neither of these is “unlimited”. I’m fairly certain I couldn’t buy a Gulfstream jet on my Amex card, even though there is no pre-set spending limit, because they know my salary and are reasonably sure I’m not in a position to pay the $45 million that would be due at month’s end. But I suppose that they may have a customer or two who _could_ do something like that. - Rick ---
**Author:** ![Kjetil](https://avatars.discourse-cdn.com/v4/letter/k/bc8723/32.png) [@Kjetil](https://boards.straightdope.com/u/Kjetil)\ **Post date:** [April 4, 2003, 1:10pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/14 "2003-04-04T13:10:13Z")
Come to think of it, though there won’t be any unlimited credit cards, the US government, for example, would have a hard time actually going bankrupt, and their current debt, well… So though there might be such a thing as, sort of, unlimited credit - limited not by how much they think the lender can repay, but by what the company can provide. ---
**Author:** ![China\_Guy](https://avatars.discourse-cdn.com/v4/letter/c/779978/32.png) [@China\_Guy](https://boards.straightdope.com/u/China_Guy)\ **Post date:** [April 4, 2003, 1:13pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/15 "2003-04-04T13:13:32Z")
The US government has the largest “approved” credit line of any one. GWB I guess would be the personna of that. What’s the government debt these days? Need more cash, well hell, sell a couple billion tbills. All a tbill is is a US government IOU and if that ain’t credit, I don’t know what is. Also, to reply to your question, I haven’t met Bill Gates, but it is likely he doesn’t touch money any more. He has bodyguards and handlers who take care of such things. ---
**Author:** ![li\_l\_Dickie\_Dirtz](https://avatars.discourse-cdn.com/v4/letter/l/2bfe46/32.png) [@li\_l\_Dickie\_Dirtz](https://boards.straightdope.com/u/li_l_Dickie_Dirtz)\ **Post date:** [April 4, 2003, 1:44pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/16 "2003-04-04T13:44:22Z")
AmEx offers a card above their Platinum level. I believe it’s called the Centurion. It’s black. I’m not sure, but I think you need to have significant money invested with them to obtain the card. They probably assume therefore you’re pretty trustworthy. Although, as it’s been pointed out, AmEx is a charge card, not a credit card. ---
**Author:** ![Philster](https://avatars.discourse-cdn.com/v4/letter/p/13edae/32.png) [@Philster](https://boards.straightdope.com/u/Philster)\ **Post date:** [April 4, 2003, 3:04pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/17 "2003-04-04T15:04:23Z")
> [@](#): > > \*Originally posted by Bricker \* > \*\* > But the deal with American Express is that you must pay the bill in full each month. It’s not a credit card - it’s a charge card. > > - Rick \*\* American Express IS a credit card, but they extend the credit only for 30 days. What TYPE of credit card is it? It is an “Open” type account, meaning the balance is due immediately or by the end of the month. A collection account is also an “open” account. You typical Visa and Mastercards are “Revolving” accounts, in which balances and interests roll month to month…revolving around the terms of the agreement, etc… …not to be confused with and “Installment” account, which is you typical car loan, mtg, etc. ---
**Author:** ![Mr.Slant](https://avatars.discourse-cdn.com/v4/letter/m/c57346/32.png) [@Mr.Slant](https://boards.straightdope.com/u/Mr.Slant)\ **Post date:** [April 4, 2003, 4:05pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/18 "2003-04-04T16:05:57Z")
li’l Dickie Dirtz: The Centurion card requires that you previously passed $1 Million through another Amex card. If you have an Amex Green, Gold, or Platinum and pass $150K through it _IN 12 MONTHS_, you may be invited to receive a Centurion card. I’d have to imagine that most, if not all people who pass $150 through another Amex charge card would have decent credit to begin with, and probably substantial incomes to boot. The annual fee is $2500. According to a post on another message board, this card offers the following perks: "- Gold (Elite) status on Continental, Northwest, Delta, and US Air - that means free upgrades to 1st class, a seat whenever you need it, and double+ miles earned. You’d normally have to fly 50,000 miles ON EACH to earn that. - Airport club memberships with those same airlines (and with Delta- that’s cocktails included!). Normally \>$300 EACH. -Gold (Elite) status with Hilton, Starwood, Marriott, etc. - room upgrades, bonus points, fewer blackout dates. You’d normally have to stay 10-15 times EACH to earn that - Premier status with Hertz, Avis, National - luxury upgraded car is waiting for you, and when you return, concierge drives it back There’s more – cruise upgrades, unbelievable service, etc. " This is all from a post on creditnet forums, and of course I can’t verify the authenticity of the information. The post may be reachable at the following URL, although linking to discussion forums is always iffy: [http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&threadid=29244&highlight=centurion+and+amex](http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&threadid=29244&highlight=centurion+and+amex) ---
**Author:** ![Mr.Slant](https://avatars.discourse-cdn.com/v4/letter/m/c57346/32.png) [@Mr.Slant](https://boards.straightdope.com/u/Mr.Slant)\ **Post date:** [April 4, 2003, 4:07pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/19 "2003-04-04T16:07:44Z")
OOOPS. Amend the first line of my last post to say: “The Centurion card requires that you previously passed $150K through another Amex card.” My bad. ---
**Author:** ![Bricker](https://avatars.discourse-cdn.com/v4/letter/b/977dab/32.png) [@Bricker](https://boards.straightdope.com/u/Bricker)\ **Post date:** [April 4, 2003, 4:10pm UTC](https://boards.straightdope.com/t/unlimited-credit/166423/20 "2003-04-04T16:10:33Z")
I’ve always heard the terms “credit card” and “charge card” used as I did, but I have to admit I hadn’t ever seen any definitive citation one way or another. A quick search reveals [this site](http://www2.discovercard.com/student/glossary.html'), which claims that a charge card is: > [@](#): > > …a specific kind of credit card that requires full payment of your balance with each billing cycle. Typically charge cards do not charge interest, but if you fall behind late fees can apply. So it would seem that “charge card” is a subset of “credit card”. My mistake. Apologies for the incorrect info. - Rick [Next page](https://boards.straightdope.com/t/unlimited-credit/166423.md?page=2)