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Responses that advocated MS have been removed from this thread. Advocation of MS is considered to be "unrelated to the purpose of the FICO forums" and is not permitted under our TOS.
Forum TOS: https://ficoforums.myfico.com/t5/User-Guidelines-General/myFICO-Forums-Terms-of-Service/td-p/4
SunriseEarth
Moderator
@Anonymous wrote:
I’ve heard you can send someone money via CC through Venmo to hit a sub as Venmo treats it as a transaction rather than a cash advance. You do get hit with a 3% transaction fee, though. Can anyone confirm or deny this? Would the CC company see this as gaming if I were to send it to a friend, then have the friend send it back to me?
Venmo does assess a 3% fee on CC transactions and, IME, they post as purchases. However, your idea could send some red flags to Venmo and to your CCC. Also, I need to reiterate that advocation of MS is not permitted on the Forums.
You have three months to meet the spend. Take a close look at all the items you buy, and be sure all CC spend goes to the CSP. As it is the first of May, the summer travel season is coming up. CSP is a “Travel Card”.
I would not trust Venmo to allow you to send money from any credit card, with no consequences / problems with the CCC.
You are sure this is a CSP? Not waiving the first AF is news to me.
Congrats on the approval!
I've used Venmo to hit a SUB but the transactions were completely legitimate; no kick backs from the other person. My child support isnt court ordered so I send it however I want, my ex uses Venmo so we see that as an easy way to xfer funds and there is a digital record. But using Venmo to hit the SUB is about 10-15% of the transactions I make to hit bonus the rest is just through normal transactions which is how it should be.
I tried to use Venmo as a first transaction for my WF Propel Card and they shut my card down immediately. I had to call and let them know I wasnt gaming the system and that my checking acct records(they are my bank as well) reflect similar transactions and she warned against using Venmo too much and said stay clear of Paypal entirely.
Try using "Plastiq" to pay for rent, utilities, etc...using a credit card and the fee is only 2.5%.
@NRB525 wrote:You have three months to meet the spend. Take a close look at all the items you buy, and be sure all CC spend goes to the CSP. As it is the first of May, the summer travel season is coming up. CSP is a “Travel Card”.
I would not trust Venmo to allow you to send money from any credit card, with no consequences / problems with the CCC.
You are sure this is a CSP? Not waiving the first AF is news to me.
Congrats on the approval!
CSP recently switched from the 50k UR bonus (4k spend in 3 mo) w/ AF waived the first year, to 60k UR bonus (4k spend in 3 mo), AF not waived for the first year.