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Valued Member
HankNY
Posts: 73
Registered: ‎06-18-2012

AMEX Serve for rent

Guys I am thinking of paying my rent w Serve by loading it w Chase Freedom & (later help me meet my min spend limit on csp ). Then withdrawing Cash from ATM.  My cash back/miles  will earn more than what I spend on  ATM. Is this Kosher ?  I do not want to get in  trouble with either of these two.

thanx

 

 

Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: AMEX Serve for rent

My Prediction:  In another 20 yrs, this whole crap about not being able to pay rent or mortgages by CCs (and not being able to get the rewards from such transactions) will be eliminated.

 

 

As far as your question, idk but it always seems there is a loophole and then the CCCs become wise to it and end it. Or FR you.

 

 

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: AMEX Serve for rent

Usually "purchases" are defined as transactions that aquire points, I'm not sure if a transfer is considered a "purchase" but it could work.

 

Regardless Serve only gives you 1 free ATM access a month. usually ATM's are capped at 400-500 a day for cash withdrawls. So to do a $1,500 payment on a $250,000 mortgage it would require 3-4 trips to the ATM and for  1500 points, with Venture card 3000 points.(2x on anything) so depends how much a $15-30 worth of points are worth your time or not. Although I guess if you do stuff like regularly going to the grocery store like my local Publix store which gives free atm access it doesn't really matter too much, but that's still $2 ATM fee after the first visit = $6-8 wasted a month on ATM fees even at free atm's.

 

15-8 = $7 profit with most cards, or $ 22 with Venture card. Now if you can transfer Serve straight into your bank account that could make things easier but I dunno if I'm looking in the wrong places but I don't see that option.
 


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