Son wants cash for Christmas- How to benefit from a rewards/travel card standpoint

[Anonymous]

Long story short, my oldest wants cash for Christmas.  Which is fine.  I'm wondering if I could use my cards to do so without getting penalized?  

Trying to meet spend with Chase Saphhire Reserve (almost there $3000/4000) and amex Platinum Delta skymiles..0/3000) 

Just looking for suggestions.  

Thanks in advance!

[jacetx]

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@Anonymous wrote:

Long story short, my oldest wants cash for Christmas.  Which is fine.  I'm wondering if I could use my cards to do so without getting penalized?  

Trying to meet spend with Chase Saphhire Reserve (almost there $3000/4000) and amex Platinum Delta skymiles..0/3000) 

Just looking for suggestions.  

Thanks in advance!

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I'm not sure if it counts towards the spend but you could get him an Amex gift card. There is a code around that waives the gift card fees. I know it is not the same but as far as  know cash advances do not count towards bonus.

[Anonymous]

IME Amex gift cards do count towards the spending bonus. 

[UncleB]

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@Anonymous wrote:

Long story short, my oldest wants cash for Christmas.  Which is fine.  I'm wondering if I could use my cards to do so without getting penalized?  

Trying to meet spend with Chase Saphhire Reserve (almost there $3000/4000) and amex Platinum Delta skymiles..0/3000) 

Just looking for suggestions.  

Thanks in advance!

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Others have already mentioned the gift card option, and I'm actually a big fan of buying GCs for myself (since you can earn cash back as well as many times find them at a discount).

That being said, if your son has asked for cash (and assuming you want to honor his request) there's no real way to 'leverage' that particular gift, at least that I can think of.

[austinguy907]

Can always get some spend towards that remaining $4K by using the card in the grocery store for a V/MC/AMEX GC that spends like cash.  Typically if you go through the grocer website there's usually some promo's to waive the fee on the card purchase.

[SouthJamaica]

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@Anonymous wrote:

Long story short, my oldest wants cash for Christmas.  Which is fine.  I'm wondering if I could use my cards to do so without getting penalized?  

Trying to meet spend with Chase Saphhire Reserve (almost there $3000/4000) and amex Platinum Delta skymiles..0/3000) 

Just looking for suggestions.  

Thanks in advance!

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Nah, just give him the green stuff.

[azguy13]

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@austinguy907 wrote:

Can always get some spend towards that remaining $4K by using the card in the grocery store for a V/MC/AMEX GC that spends like cash.  Typically if you go through the grocer website there's usually some promo's to waive the fee on the card purchase.

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If you consider gift cards, places like Sams Club and Cosco will offer some good deals on them. Something like $45 for a $50 gift card to one of many different places. 

[austinguy907]

True if you want something store specific Kroger offers tons of $4o for a $50 card.  If you were redeeming Discover there's a ton on there that are about 30% discount off face value depending on the catagory.  There's some trvael related ones that are even 50%.

[Anonymous]

I'm not going to pretend I know how this service works, but would Plastiq allow you to send a payment to an individual? From what I understand, they basically just send a cheque if the "biller" doesn't accept electronic payments. Maybe someone who's used the service could chime in?

[SouthJamaica]

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@Anonymous wrote:

I'm not going to pretend I know how this service works, but would Plastiq allow you to send a payment to an individual? From what I understand, they basically just send a cheque if the "biller" doesn't accept electronic payments. Maybe someone who's used the service could chime in?

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No, only individuals with whom you have business, such as a landlord, etc.