- Centurion Member
- Posts: 538
- Joined: Fri Mar 09, 2012 9:29 am
- Location: San Francisco, CA
The guy doesn't know what he is doing. He is probably trying to avoid taking a deposit and therefore be obligated in many states to follow procedure as keeping escrow account and/or paying interest on money. He could authorize "put on hold" the 1k. Authorizations will fall off in a certain time period (30 days.) unless renewed. So possible he could be renewing but I doubt it. Basically take 1k from limit while authorization is in place. Probably why he doesn't want to take debit cards as authorizations actually remove money from account. If he doesn't renew, card could easily not have money available or be cancelled etc when he did want the money. Also, there are systems in place to detect prepaid and debit cards but whether or not he has them installed is another thing. Also, he could just be essentially taking the deposit via credit card vs. cash by actually running transaction through.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k