Anyone 1,000,000 miles for free?

Discussion in 'General Discussion | Miles/Points' started by Biggles209, Aug 15, 2011.  |  Print Topic

  1. Biggles209
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    Biggles209 Silver Member

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    Costco has a $1,000,000 diamond ring for sale, and they are anticpating a return: see http://www.costco.com/Browse/ProductSet.aspx?whse=BC&topnav=&prodid=11672296

    So, I can buy this on my Platinum AmEx - no preset limit - and get the refund on another AmEx at the store, but I can't figure out how to get the refunded amount into a bank account to pay off the bill.

    I'm sure someone here can...
     
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  2. icurhere2
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    icurhere2 Gold Member

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    No one's putting it on a credit card with the statement "Item available for purchase via wire transfer only".
     
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  3. Biggles209
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    Biggles209 Silver Member

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    Oops, I missed that. Please feel free to delete this thread...
     
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  4. MSPeconomist
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    MSPeconomist Gold Member

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    Even if you could purchase it with a credit card, returns are usually done by issuing a credit to thew original means of payment.

    Moreover, "no (pre)set spending limit" doesn't mean "no spending limit."
     
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  5. gleff
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    gleff Co-founder

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    The old trick with Costco was buy online with Visa (I've never had one with a limit > $90k), return in store where they don't process Visa and get a check. They've gotten somewhat wiser to this I understand, and certainly wouldn't do it with this transaction. ;)
     
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  6. newbluesea
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    newbluesea Gold Member

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    Speakly for myself only i sincerely hope we can try and keep these hare-brained schemes ( which are IMHO nothing but plain outright fraud) from infecting this board.
    Wander over to Flyertalk if you are so desirous and wallow in the AA shopping/Verizon cesspool.:mad:
     
  7. RestlessLocationSyndrome
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    RestlessLocationSyndrome Silver Member

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    No, you won't be able to do this... but I like the way you're thinking.
     
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  8. sma_15

    sma_15 Silver Member

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    Must agree here... I am all for getting miles but fraud is not the way I plan to get them. Getting miles this way also gives those of us who play by the rules a bad name.
     
  9. sobore
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    sobore Gold Member

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    I just bought the ring without worrying about the miles. I just liked it that much! :D
     
  10. NYC_Gal
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    NYC_Gal Silver Member

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    Or you can buy it and then resell it for cash.
     
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  11. Scottrick
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    Scottrick Gold Member

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    This is what really bothers my dad about Amex (he swore them off after being rejected when trying to pay for a two-week stay in Maui). There is a limit, they just don't tell you what it is. Maybe that limit varies with the time of day and your spending history, but there is always a limit.
     
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  12. lichenlt
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    lichenlt Silver Member

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    There is a link on your online account that you can check your spending limit. I always do that before making a big purchase with No Pre-set Limit AMEX card.
     
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  13. Scottrick
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    Scottrick Gold Member

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    Maybe that's new. This was 1986. My United Visa does the same thing, where I can see a spending limit but Chase tells me it's not pre-set. All I'm saying is it seems like a silly policy that can potentially backfire.
     
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  14. jbcarioca
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    jbcarioca Gold Member

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    There goes the WFA budget for T&E! Just don't try to expense it General. The Finance department has strict policies!
     
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  15. jbcarioca
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    jbcarioca Gold Member

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    The Master card World Card and Visa signature card both have, as American Express and Diners Club, no "pre-set" spending limit. The reality is that the cash limits published with these cards, when they are, are very close to the effective limit.

    For American Express in particular there are spending and repayment algorithms, including consideration for merchant and merchandise, that govern actual spending.

    Jewelry and jewelry stores are not quite so negative as are cash advances and casinos, but they will not get the highest authorizations. Airline tickets tend to get the higher ones, as do consumer durables.
     
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  16. cordray2643
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    cordray2643 Silver Member

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    Very well said. I struggle to understand the need to get something for nothing. I was raised to understand that if you get something for nothing, someone else is paying for it.
     
  17. It's actually much easier than this. I always use my Amex at Costco, and I have never returned something (up to a $1600 laptop) and not been offered either a) cash or b) a check.

    I haven't done this with the purpose of earning points, but I was happy to keep the points after return.
     
  18. zshanlon

    zshanlon Silver Member

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    Can you still do that? Buy with AMEX and get a check upon return?
     

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