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I have a business, ACH bank account linked to a credit card terminal for my business.....I needed to purchase some supplies so ran my AMEX card thru my CC terminal in which the funds landed in my business ACH account.....as cash. Amex called me concerned and stated I CANNOT use my card with any business I have any financial affiliation with. I am unclear as to why they have an issue with it..the rep said that behavior could be grounds to close the account. I need some clarity here, as in someone explaining this to me...THANKS
@Creditplz wrote:
It could be considered MS. It should be in the T&C, many people have had accounts closed for using Square, PayPal, Etc..
Yes, she did say something about paypal too....what do you mean by MS, and T&C?
@Anonymous wrote:
@Creditplz wrote:
It could be considered MS. It should be in the T&C, many people have had accounts closed for using Square, PayPal, Etc..Yes, she did say something about paypal too....what do you mean by MS, and T&C?
MS means manufactured spending. Google it if you want more info. T&C means Terms and Conditions of your credit card. What you are trying to do is basically sending yourself money using a credit card and is a big no no for Amex and other creditors and as Creditplz states, people get their accounts shut down for it.
Thx....I really appreciate your experience. She said they would let this one go, but no more here on out....I am like you got it
@Anonymous wrote:Thx....I really appreciate your experience. She said they would let this one go, but no more here on out....I am like you got it
This is how we learn ..from experience. I've made my share of 'mistakes'.