topic Does a refund count towards my rewards? in Credit Cards

Does a refund count towards my rewards?

Anonymous — Tue, 09 Oct 2018 21:36:44 GMT

So for my new card, if I spend $3000 I get 50000 points. Out of curiosity, if I buy a $3000 computer and return it will I get the 50000 points? The card is AMEX platinum

Re: Does a refund count towards my rewards?

pipeguy — Tue, 09 Oct 2018 22:13:16 GMT

No.

AmEx and all other credit cards that offer a sign-up bonus work off "net purchases" not gross purchases. There are also other categories excluded depending on the issuer (including AmEx) such as gift cards, money orders, etc. Just read the terms of your offer and you'll see the exclusions.

This is from the current generic AmEx Platinum offer with a $550 AF:

60,000 Membership Rewards® Points
To be eligible to earn the 60,000 Membership Rewards points, you must be enrolled in the Membership Rewards Program at the time of the eligible purchases. 60,000 Membership Rewards points will be credited to your account after you charge a total of $5,000 (the "Threshold Amount") or more of purchases on your Platinum Card® from American Express within the first 3 months of Platinum Card Membership starting from the date your account is approved. Eligible purchases can be made by the Basic Card Member and any Additional Card Members on a single Card account. Eligible purchases are purchases for goods and services minus returns and other credits. The following eligible purchases do NOT count towards the Threshold Amount: fees or interest charges; purchases of travelers checks; purchases or reloading of prepaid cards; purchases of gift cards; person-to-person payments; or purchases of other cash equivalents. Points will be credited to your Membership Rewards account within 8-12 weeks after you meet the Threshold Amount.

If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with the welcome offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain a welcome offer (s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit Membership Rewards points to, we may freeze Membership Rewards points credited to, or we may take away Membership Rewards points from your account. We may also cancel this Card account and other Card accounts you may have with us.

Re: Does a refund count towards my rewards?

DaveInAZ — Tue, 09 Oct 2018 22:14:45 GMT

No.

Especially with Amex as they withhold awarding points for 1 statement period to thwart folks who might try this stunt.

Re: Does a refund count towards my rewards?

AverageJoesCredit — Mon, 15 Oct 2018 23:50:51 GMT

Be careful where you maybe heading trying to get bonuses.

Re: Does a refund count towards my rewards?

zerofire — Tue, 16 Oct 2018 01:34:08 GMT

It depends on how you do the refund.

If you buy that computer and then return it and the store returns the funds to the card then you better find $3000 of other perchases to qualify for the points. If when you return it you get store credit then that is a diffrent matter. The charge has to stick and not register as something that can move around like a prepaid visa.

Re: Does a refund count towards my rewards?

Anonymous — Sun, 21 Oct 2018 13:40:47 GMT

There is actually a loophole to this sort of MSR, but i wouldn't risk it, it's thing is called the 'threshold' purchase. If the MSR is $1000 say, you can purchase a product for $990 at one merchant and then something that is $11 at another, then that places you at $1001 and the SUB is rewarded. Then one of two returns can be completed and the bonus is clawed back based on what is returned actually. If you return the $11 item and it was the item that placed you over the MSR, the 'threshold' purchase, then you're back at $990 and the bonus is clawed back. HOWEVER... if the $990 is returned, and it wasn't the 'threshold' purchase, then your points will not be clawed back. This all depends on which item is posted first, if the 990 item is posted first, then you should be able to return that item and points will be ok. But if the 11 item is posted first, then the 990 item becomes your 'threshold' purchase. This is all done by a computer algorithm but i wouldn't risk it tbh...

Re: Does a refund count towards my rewards?

Anonymous — Sun, 21 Oct 2018 17:27:15 GMT

@DaveInAZ wrote:
No.
Especially with Amex as they withhold awarding points for 1 statement period to thwart folks who might try this stunt.

Is it different with points? My Cash Magnet card just credited my $150 a few days ago mid statement period a couple days after I met the spend. My next statement won't be until the second of November. This happened between the first and second statement.

Maybe it's because this is my second Amex card?

Re: Does a refund count towards my rewards?

NRB525 — Sun, 21 Oct 2018 18:12:07 GMT

To OP: No.

Regarding AMEX bonus, a SUB is awarded immediately but can be clawed back.

Regular points do take a statement cycle to post.

Re: Does a refund count towards my rewards?

SBR249 — Sun, 21 Oct 2018 19:35:46 GMT

I believe if the SUB is in the form of a statement credit, then it should post pretty soon after the spending threshold is met. But if it's points, then those are generally tallied and credited once per cycle after the cycle closes and statement is cut.