Large Credit Card Transactions

For just about anything you want to get off your chest about credit cards.
7 posts
Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Large Credit Card Transactions

Postby Robrus1 » Sun May 26, 2013 4:20 pm

First of all let me be clear by saying that I'm asking this question out of curiosity, not because I have anything to hide. Are large payments like 15, 20K made online to credit card issuers by card holders private between the issuer and the cardholder, or is that information seen by the IRS?

That same question goes for purchases. Say I buy something at a jewelry store that's 16K and put it on my Amex. Do even high dollar amount purchases like that stay private between the card issuer and the card holder, at least until requested?
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K


MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun May 26, 2013 7:16 pm

I don't know exactly the specifics, there is something about transactions over 10k but I think that applies only to cash, so if you do a cash transaction of 10k or more, then the IRS wants to know about it.

Of course from what I've read, the government pretty much keeps tabs on ALL of our financials these days. I was reading a couple of articles that said the government requires the big banks to report basically whatever they want to know about us to them. So, they know whatever we are doing anyway. So I don't consider that we have any privacy whatsoever in anything we do anymore, except in our own homes and it's only a matter of time before that's gone too. We're not yet at the point of 1984 where the TV watches you, but it's really not such an "out there" concept anymore.

User avatar
FastSRT8
Centurion Member
Centurion Member
 
Posts: 1454
Joined: Thu Apr 19, 2012 1:32 pm
Location: Canada

Postby FastSRT8 » Sun May 26, 2013 10:06 pm

As long as you are not doing anything illegal I won't and don't care what they see.

Heck.... it's post tax dollars I'm spending. You have already taken your cut Mr Taxman. You should be thanking me for keeping the economy going.
Carpe diem quam minimum credula postero!

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Sun May 26, 2013 10:15 pm

FastSRT8 wrote:As long as you are not doing anything illegal I won't and don't care what they see.

Heck.... it's post tax dollars I'm spending. You have already taken your cut Mr Taxman. You should be thanking me for keeping the economy going.


Nothing illegal here, I pay my taxes and all my income is legit. I just wasn't sure what the policy is. Also, Fast, I sent you a PM. I have a question about your Cent Card.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Gamma
Centurion Member
Centurion Member
 
Posts: 464
Joined: Sat Sep 15, 2012 1:15 am
Location: Los Angeles, CA

Postby Gamma » Sun May 26, 2013 10:17 pm

MemberSince99 wrote:We're not yet at the point of 1984 where the TV watches you, but it's really not such an "out there" concept anymore.

Good book.

User avatar
FastSRT8
Centurion Member
Centurion Member
 
Posts: 1454
Joined: Thu Apr 19, 2012 1:32 pm
Location: Canada

Postby FastSRT8 » Sun May 26, 2013 10:44 pm

Robrus1 wrote:Nothing illegal here, I pay my taxes and all my income is legit. I just wasn't sure what the policy is. Also, Fast, I sent you a PM. I have a question about your Cent Card.


Replied to your PM
Carpe diem quam minimum credula postero!

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Sun May 26, 2013 10:57 pm

FastSRT8 wrote:Replied to your PM


Thank you, Fast. I replied to your reply.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest