Perils of MS

[Anonymous]

My comment is using multiple banks in case one gets a problem and they are off line, get hacked or are mad and get a case of the hips. Boy Scout Motto: "...always be prepared..."! Also, I spread my direct deposits around for the same reason. After reading some of the challenges "MyFico" posters have encountered for a number of different reasons it only confirms my actions. Also, better check that $10,000 IRS limit referenced in one of the posts. One of my bank's told me the limit was decrease to $5,000 and they hold me to it.

[0REDSOX7]

This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

[Imperfectfuture]

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

---

Actually, that was a recommendation off of several flyer type web sites (I was doing my research).  Another recommendation was, if you felt the end was coming, to max out your spend on gift cards, since that was essentially considered zero percent interest free money.  I think by putting as many cards as possible when they lowered your limit, methinks you knew the risks, they are clearly explained.

When it comes time for my spend cards, I plan on a big legitimate purchase, with the 0 % financing offer, have a few months to pay down (and it's generally 30% or less of my limit.  What is so wrong with buying normal gift cards as part of your shopping, that you would use anyway?  Coulda bought some Safeway gift cards, and bought some groceries, etc.  since you had a recent bankruptcy discharge, sorry you lost out on this, Amex took a chance on you.  Shoulda read those threads more carefully.

And please, people, if you need to MS to pay for daycare, and you can't meet the min spend for the max bonus, DON'T app for the dang card.

Rant over.

[Anonymous]

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

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That's a very low spend (~$1.600 a month, well within "normal" limits) to have drawn AA,  but illustrates that they is no "safe" level if the issuer so chooses.

[Anonymous]

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@Imperfectfuture wrote:

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

---

Actually, that was a recommendation off of several flyer type web sites (I was doing my research).  Another recommendation was, if you felt the end was coming, to max out your spend on gift cards, since that was essentially considered zero percent interest free money.  I think by putting as many cards as possible when they lowered your limit, methinks you knew the risks, they are clearly explained.

When it comes time for my spend cards, I plan on a big legitimate purchase, with the 0 % financing offer, have a few months to pay down (and it's generally 30% or less of my limit.  What is so wrong with buying normal gift cards as part of your shopping, that you would use anyway?  Coulda bought some Safeway gift cards, and bought some groceries, etc.  since you had a recent bankruptcy discharge, sorry you lost out on this, Amex took a chance on you.  Shoulda read those threads more carefully.

And please, people, if you need to MS to pay for daycare, and you can't meet the min spend for the max bonus, DON'T app for the dang card.

Rant over.

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I completely and vehemently disagree with this.

If you're spending it legitimately, you can and should get rewarded for it.

[Anonymous]

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@Anonymous wrote:

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@Imperfectfuture wrote:

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

---

Actually, that was a recommendation off of several flyer type web sites (I was doing my research).  Another recommendation was, if you felt the end was coming, to max out your spend on gift cards, since that was essentially considered zero percent interest free money.  I think by putting as many cards as possible when they lowered your limit, methinks you knew the risks, they are clearly explained.

When it comes time for my spend cards, I plan on a big legitimate purchase, with the 0 % financing offer, have a few months to pay down (and it's generally 30% or less of my limit.  What is so wrong with buying normal gift cards as part of your shopping, that you would use anyway?  Coulda bought some Safeway gift cards, and bought some groceries, etc.  since you had a recent bankruptcy discharge, sorry you lost out on this, Amex took a chance on you.  Shoulda read those threads more carefully.

And please, people, if you need to MS to pay for daycare, and you can't meet the min spend for the max bonus, DON'T app for the dang card.

Rant over.

---

I completely and vehemently disagree with this.

If you're spending it legitimately, you can and should get rewarded for it.

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But what does "legitimately" mean?  If the T&Cs say purchase of cash equivalents won't be rewarded......    From the CCC viewpoint, they can't distinguish between "good" and "bad" uses, all the same to them

[0REDSOX7]

Well, this all happened before I knew this site even existed, so, I didn't know MS even existed. I had been a member with this card since 2006. I had long met the bonus spend waaaay back in the day.

I think the AA was for me, because with a 2K CL on the card, I rarely used it for more than 1000 a month - so when they saw me all of a sudden charge more, they saw me as a risk.

I wasn't looking to use it for free money - but a way to keep my money in my account longer instead of writing my daycare a check each week. The rewards were nice.

Oh well, BK was then filed later in the year anyway, so, AmEx knew based on my intern credit profile I guess.

All is well now.

[Imperfectfuture]

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@Anonymous wrote:

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@Imperfectfuture wrote:

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

---

Actually, that was a recommendation off of several flyer type web sites (I was doing my research).  Another recommendation was, if you felt the end was coming, to max out your spend on gift cards, since that was essentially considered zero percent interest free money.  I think by putting as many cards as possible when they lowered your limit, methinks you knew the risks, they are clearly explained.

When it comes time for my spend cards, I plan on a big legitimate purchase, with the 0 % financing offer, have a few months to pay down (and it's generally 30% or less of my limit.  What is so wrong with buying normal gift cards as part of your shopping, that you would use anyway?  Coulda bought some Safeway gift cards, and bought some groceries, etc.  since you had a recent bankruptcy discharge, sorry you lost out on this, Amex took a chance on you.  Shoulda read those threads more carefully.

And please, people, if you need to MS to pay for daycare, and you can't meet the min spend for the max bonus, DON'T app for the dang card.

Rant over.

---

I completely and vehemently disagree with this.

If you're spending it legitimately, you can and should get rewarded for it.

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Agree with LTL, what is legitimate use?  From my research, it's getting harder and harder.  Plus, daycare should be OUTSIDE of cc use (a primary necessity to keep your job), and shouldn't be part of the spend to reach max bonus.  Sorry, that's just an overextended accident waiting to happen.

Again, what is legitimate, all those things I saw as to how to pay other bills with the card?  If you are standing in line at Wally world (or wherever), waiting to get a money order, you DANG know what you are doing, and you know the risks entail adverse action, hence - not so legitimate.  What's the excuse if they do pull AA on you?  Wanted some cash advances above the limit set on my card?

Respectfully disagree.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Imperfectfuture wrote:

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@0REDSOX7 wrote:
This happened to me - I got shut down for doing MS and not even knowing what I was doing.

Backstory - my kids are in daycare - paying just under 400/week. My daycare accepted only VISA and MasterCard so I used my AmEx Hilton card to buy 400 gift cards each week. I figured I could get the double points for Hilton and keep the $$$ in my checking account a bit longer.

Well, it was fine for one month. Then a month later, I had adverse action and my credit limit was cut in half. I put what gift cards I could get, pay mid cycle and get the others after the fact.

Two months later the card was closed due to a violation of the cards T&Cs. Never knew what I did wrong - now I know.

---

Actually, that was a recommendation off of several flyer type web sites (I was doing my research).  Another recommendation was, if you felt the end was coming, to max out your spend on gift cards, since that was essentially considered zero percent interest free money.  I think by putting as many cards as possible when they lowered your limit, methinks you knew the risks, they are clearly explained.

When it comes time for my spend cards, I plan on a big legitimate purchase, with the 0 % financing offer, have a few months to pay down (and it's generally 30% or less of my limit.  What is so wrong with buying normal gift cards as part of your shopping, that you would use anyway?  Coulda bought some Safeway gift cards, and bought some groceries, etc.  since you had a recent bankruptcy discharge, sorry you lost out on this, Amex took a chance on you.  Shoulda read those threads more carefully.

And please, people, if you need to MS to pay for daycare, and you can't meet the min spend for the max bonus, DON'T app for the dang card.

Rant over.

---

I completely and vehemently disagree with this.

If you're spending it legitimately, you can and should get rewarded for it.

---

But what does "legitimately" mean?  If the T&Cs say purchase of cash equivalents won't be rewarded......    From the CCC viewpoint, they can't distinguish between "good" and "bad" uses, all the same to them

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Legitimate spending would be spending you have to do regardless. Daycare is one of these.

Like i said before, I don't encourage ABUSE of rewards. But I do believe that if one is actually incurring legitimate expense, then one should be able to put it on a CC and earn rewards on it.

[Anonymous]

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@Imperfectfuture wrote:

Plus, daycare should be OUTSIDE of cc use (a primary necessity to keep your job), and shouldn't be part of the spend to reach max bonus.  Sorry, that's just an overextended accident waiting to happen.

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Why should it be outside of CC use if it is a legitimate expense?

By your logic, the only time one should ever use credit is for large purchases payable over time.

I'm talking about everyday spend here. And if Daycare is one of those, then it too should count.