Re: MY GOAL: Get The AmEx Centurion Card - MY PLAN: read in article[ Edited ]
12-07-2009 05:29 AM - edited 12-07-2009 05:33 AM
There are a lot easier ways to max your spending out than buying and selling crap on ebay and with a lot less risk.
Buy dollar coins from the US mint through their direct ship program and deposit them in your account. The shipping is free, they count as a purchase so you earn cash back.
Google it and you will find mega threads on fatwallet and flyertalk that outline the deal.
I hope you have been using an Amex card that offers cash back like the blue cash card.
Actually, it usually does not count as a purchase, but as a cash advance. Both Chase and AmEx list the purchase as a cash-like transaction and not only do not award any points, but start charging interest as of the transaction date.
USAA does not list the purchase as a cash-like transaction, but they do not award any points because the transaction is flagged as "government services."
Definitely not true. Show me just one instance of someone reporting that their purchase was coded as a cash advance in the thousands of posts about this program on Flyertalk or Fatwallet. You wont find one. It may happen in the future but it has not happened so far. You are definitely making things up here. All my purchases on Chase cards and Amex are listed as "US MINT" count as a purchase and receive rewards. I haven't used my USAA or Penfed cards for this because the rewards suck but again, if what you are saying is true it would have surfaced by now.
You can believe what you want on your websites. I have bought from the US Mint and USAA categorizes it as "government services" and there are no rewards points.
I have also purchased US Mint Direct Ship Rolls and AmEx and Chase mark them as "cash-like transactions" and not only are there no points, but they charged me about $2 in interest.
I thought the reason you haven't used PenFed is because they cut you off at the knees already.