Perils of MS

[enharu]

The other reason people do MS is to convert credit into cash. 

This is a temporary solution for people who need cash urgently but do not want to pay the cash advance fees.

Like MS, it comes with risks, because no lender likes this sort of thing from a risk and legal compliance standpoint.

[Anonymous]

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@enharu wrote:

The other reason people do MS is to convert credit into cash. 

This is a temporary solution for people who need cash urgently but do not want to pay the cash advance fees.

Like MS, it comes with risks, because no lender likes this sort of thing from a risk and legal compliance standpoint.

---

I don't condone MS for the purpose of abusing perks specifically.

But I do think one should be able to pay certain types of bills with credit and get rewarded for it.

Heck, if i could pay my Auto loans, and Wife's Student loans with CC's, that'd be so awesome.

Since it's money you gotta spend anyway.

[wacdenney]

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@Anonymous wrote:

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@enharu wrote:

The other reason people do MS is to convert credit into cash. 

This is a temporary solution for people who need cash urgently but do not want to pay the cash advance fees.

Like MS, it comes with risks, because no lender likes this sort of thing from a risk and legal compliance standpoint.

---

I don't condone MS for the purpose of abusing perks specifically.

But I do think one should be able to pay certain types of bills with credit and get rewarded for it.

Heck, if i could pay my Auto loans, and Wife's Student loans with CC's, that'd be so awesome.

Since it's money you gotta spend anyway.

---

Agreed!  I wish I could find a way to set up our mortgage to autopay to a rewards card.  It's a bill I pay every month either way so it would be sweet for me to get rewards and for them to get the fees.

[enharu]

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@Anonymous wrote:

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@enharu wrote:

The other reason people do MS is to convert credit into cash. 

This is a temporary solution for people who need cash urgently but do not want to pay the cash advance fees.

Like MS, it comes with risks, because no lender likes this sort of thing from a risk and legal compliance standpoint.

---

I don't condone MS for the purpose of abusing perks specifically.

But I do think one should be able to pay certain types of bills with credit and get rewarded for it.

Heck, if i could pay my Auto loans, and Wife's Student loans with CC's, that'd be so awesome.

Since it's money you gotta spend anyway.

---

I agree.

I think you can pay your auto loans using Amex Serve, by loading it with a credit card. The limit is 1k each month, if I am not wrong.

There's also another service that millionmilesecret was raving about because it didn't charge any fees, but I am not sure if it's been "fixed" now.

[Fico2Go]

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@Anonymous wrote:

Well, to no great surprise, Amex started closing Amex Blue Cash cards, including mine.   Two somewhat unusual features:

1) No FR, just email saying the card was cancelled

2) Other Amex cards left alone.  Many issuers in this situation close all cards

Sampling on flyertalk shows the usual lack of pattern, in some husband/wife pairs, the partner doing less on their card had the card closed whereas the other is open.  But the whole shakeout might take a few days, and one person was told (when trying to apply) that the card is being phased out.

As is usual, with the cards closed, all unpaid/unreedeemed rewards go away, and with Amex this is effectively two months of rewards (I should have got last month's on Oct 27).  So the next step is to consider suing in small claims for the rewards (which seems to have a high degree of success, as courts choose not to abide by overly restrictive T&Cs)

So is/was it worth it?   Yes, even for a few months.   But I will give it a rest, and then try one of the next best things (TD / WF)

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Sorry to hear LTlurker,

Strange thing, my wife just received CLI on her Blue Cash yesterday.  

So I don'tt think they are phasing out the BC.  The MS closures may be triggered by patterns of usage.  

But then again, I am one of those who doesn't put much effort into MSing.  I  only purchase GCs when I am also buying gas, grocery or drugs.  

[Anonymous]

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@Fico2Go wrote:

---

@Anonymous wrote:

Well, to no great surprise, Amex started closing Amex Blue Cash cards, including mine.   Two somewhat unusual features:

1) No FR, just email saying the card was cancelled

2) Other Amex cards left alone.  Many issuers in this situation close all cards

Sampling on flyertalk shows the usual lack of pattern, in some husband/wife pairs, the partner doing less on their card had the card closed whereas the other is open.  But the whole shakeout might take a few days, and one person was told (when trying to apply) that the card is being phased out.

As is usual, with the cards closed, all unpaid/unreedeemed rewards go away, and with Amex this is effectively two months of rewards (I should have got last month's on Oct 27).  So the next step is to consider suing in small claims for the rewards (which seems to have a high degree of success, as courts choose not to abide by overly restrictive T&Cs)

So is/was it worth it?   Yes, even for a few months.   But I will give it a rest, and then try one of the next best things (TD / WF)

---

Sorry to hear LTlurker,

Strange thing, my wife just received CLI on her Blue Cash yesterday.  

So I don'tt think they are phasing out the BC.  The MS closures may be triggered by patterns of usage.  

But then again, I am one of those who doesn't put much effort into MSing.  I  only purchase GCs when I am also buying gas, grocery or drugs.  

---

A little ice cream never hurts when picking up meds.

[Anonymous]

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@Fico2Go wrote:

---

@Anonymous wrote:

Well, to no great surprise, Amex started closing Amex Blue Cash cards, including mine.   Two somewhat unusual features:

1) No FR, just email saying the card was cancelled

2) Other Amex cards left alone.  Many issuers in this situation close all cards

Sampling on flyertalk shows the usual lack of pattern, in some husband/wife pairs, the partner doing less on their card had the card closed whereas the other is open.  But the whole shakeout might take a few days, and one person was told (when trying to apply) that the card is being phased out.

As is usual, with the cards closed, all unpaid/unreedeemed rewards go away, and with Amex this is effectively two months of rewards (I should have got last month's on Oct 27).  So the next step is to consider suing in small claims for the rewards (which seems to have a high degree of success, as courts choose not to abide by overly restrictive T&Cs)

So is/was it worth it?   Yes, even for a few months.   But I will give it a rest, and then try one of the next best things (TD / WF)

---

Sorry to hear LTlurker,

Strange thing, my wife just received CLI on her Blue Cash yesterday.  

So I don'tt think they are phasing out the BC.  The MS closures may be triggered by patterns of usage.  

But then again, I am one of those who doesn't put much effort into MSing.  I  only purchase GCs when I am also buying gas, grocery or drugs.  

---

Thanks.  Unfortunately, some of the people who just got CLIs were shut down.   An envolving situation, as are most such events!   People on FT trying to divine patterns, which I think is a little pointless, but OK.  (Although, to my surprise, everyone who was shutdown made a purchase today, normal or otherwise, mine was $20 of groceries at a supermarket)

[Fico2Go]

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@Anonymous wrote:

---

@Fico2Go wrote:

---

@Anonymous wrote:

Well, to no great surprise, Amex started closing Amex Blue Cash cards, including mine.   Two somewhat unusual features:

1) No FR, just email saying the card was cancelled

2) Other Amex cards left alone.  Many issuers in this situation close all cards

Sampling on flyertalk shows the usual lack of pattern, in some husband/wife pairs, the partner doing less on their card had the card closed whereas the other is open.  But the whole shakeout might take a few days, and one person was told (when trying to apply) that the card is being phased out.

As is usual, with the cards closed, all unpaid/unreedeemed rewards go away, and with Amex this is effectively two months of rewards (I should have got last month's on Oct 27).  So the next step is to consider suing in small claims for the rewards (which seems to have a high degree of success, as courts choose not to abide by overly restrictive T&Cs)

So is/was it worth it?   Yes, even for a few months.   But I will give it a rest, and then try one of the next best things (TD / WF)

---

Sorry to hear LTlurker,

Strange thing, my wife just received CLI on her Blue Cash yesterday.  

So I don'tt think they are phasing out the BC.  The MS closures may be triggered by patterns of usage.  

But then again, I am one of those who doesn't put much effort into MSing.  I  only purchase GCs when I am also buying gas, grocery or drugs.  

---

Thanks.  Unfortunately, some of the people who just got CLIs were shut down.   An envolving situation, as are most such events!   People on FT trying to divine patterns, which I think is a little pointless, but OK.  (Although, to my surprise, everyone who was shutdown made a purchase today, normal or otherwise, mine was $20 of groceries at a supermarket)

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Perhaps Amex is cracking down on CVS and unprescribed ice cream?

 

[Anonymous]

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@Fico2Go wrote:

---

@Anonymous wrote:

---

@Fico2Go wrote:

---

@Anonymous wrote:

Well, to no great surprise, Amex started closing Amex Blue Cash cards, including mine.   Two somewhat unusual features:

1) No FR, just email saying the card was cancelled

2) Other Amex cards left alone.  Many issuers in this situation close all cards

Sampling on flyertalk shows the usual lack of pattern, in some husband/wife pairs, the partner doing less on their card had the card closed whereas the other is open.  But the whole shakeout might take a few days, and one person was told (when trying to apply) that the card is being phased out.

As is usual, with the cards closed, all unpaid/unreedeemed rewards go away, and with Amex this is effectively two months of rewards (I should have got last month's on Oct 27).  So the next step is to consider suing in small claims for the rewards (which seems to have a high degree of success, as courts choose not to abide by overly restrictive T&Cs)

So is/was it worth it?   Yes, even for a few months.   But I will give it a rest, and then try one of the next best things (TD / WF)

---

Sorry to hear LTlurker,

Strange thing, my wife just received CLI on her Blue Cash yesterday.  

So I don'tt think they are phasing out the BC.  The MS closures may be triggered by patterns of usage.  

But then again, I am one of those who doesn't put much effort into MSing.  I  only purchase GCs when I am also buying gas, grocery or drugs.  

---

Thanks.  Unfortunately, some of the people who just got CLIs were shut down.   An envolving situation, as are most such events!   People on FT trying to divine patterns, which I think is a little pointless, but OK.  (Although, to my surprise, everyone who was shutdown made a purchase today, normal or otherwise, mine was $20 of groceries at a supermarket)

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Perhaps Amex is cracking down on CVS and unprescribed ice cream?

 

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I sure hope not.

I was rarin' to try that new mint chocolate they have.

[Anonymous]

I wonder if my doctor can write me a prescription for some vanilla?

anyways, sorry to hear about the closed card, I hope you got lots of rewards before it was closed. Banks can nickel and dime you for all sorts of fees, but if there's way for consumers to benefit, it's a big no-no.

just one question, is MS actually against T&C? I don't MS but I do buy gifts cards once in a while because i'm a crappy gift buyer, now I'm all paranoid