Need to Meet a Spending Threshold Deadline? Get Waived Fees On AMEX Gift Cards!

Discussion in 'General Discussion | Miles/Points' started by Robin, Mar 10, 2011.  |  Print Topic

  1. Robin
    Original Member

    Robin Silver Member

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    Saw this on Dan's Deals. http://www.dansdeals.com/archives/13138
    Looks like in might come in handy with the new Capital One credit card offer.
    AMEX Gift Cards Linky

    Need to spend $1,000 quickly on your AMEX Platinum card? Purchase fee-free AMEX gift cards!
    You can use any Visa, MC, or AMEX, and the Gift cards are treated as a purchase and will earn miles or points.
    For waived card fees use code: EMSVC2
    Shipping is normally extra, but under the shipping method you can pick the “premium shipping” option for a free trial period of $99/year next-day air free shipping. Just cancel the trial within 3 months and you won’t pay any card fees or shipping fees! You can easily cancel your trial online.
    “If you choose to cancel before your 3-month free trial ends, all shipping charges during this period will be waived and you will not be charged the annual enrollment fee.”
    You need to login to your AMEX account (or register and login) in order to get the the free trial shipping.
    If you need to meet spending thresholds for bonus points (like 25K Chase Sapphire Preferred Points for spending $3K within 3 months, 15K Starpoints for spending $15K within 6 months on the AMEX Starwood, 50K MR Points for spending $1K on the AMEX Platinum, 15K MR Points for spending $1,000 within 3 months on the AMEX Premier Rewards card,. etc.) but don’t have enough stuff to buy right away than this may be for you!
    Just buy the amount of Gift Cards you need to get you over the spending threshold bonus and then you’ll be able to use the GC as you need them on your everyday purchases.
    There are never any fees for inactivity on the card. If you don’t finish using the GC by the expiration date then AMEX will send you a check for the remaining balance.
    Terms and Conditions: “By using the Card you agree to be bound by the Terms and Conditions in their entirety. Should you wish not to be bound by these Terms and Conditions in their entirety you must, prior to using the Card, request and obtain a refund of the value of the card by calling 877-297-4438″
     
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  2. iang000

    iang000 Silver Member

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    Do the purchases count as a purchase or as cash advance on Amex? Will we receive miles or points for the purchase?
     
  3. Robin
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    Robin Silver Member

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    According to the info on Dan's Deals in my OP, "You can use any Visa, MC, or AMEX, and the Gift cards are treated as a purchase and will earn miles or points. For waived card fees use code: EMSVC2" I'm assuming the info is accurate.
     
  4. sun
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    sun Silver Member

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    I believe Citibank recodes any transaction from a financial institution as a cash advance. So if you buy AMEX gift cards from a citi card you might get hit by cash advance fees. Setting your cash advance limit to $0 might not work either.
     
  5. LizzyDragon84
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    LizzyDragon84 Gold Member

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    I'd love to hear too from anyone who has tried with a Citibank card, as I'm trying to meet some spend limits on their AA cards.
     
  6. deant
    Original Member

    deant Milepoint Guide

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    Why not coins?
     
  7. Force
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    Force Active Member

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    I don't have direct experience but it has been reported numerous times that Citi treats anything from a financial institution as cash advance. I wouldn't risk it.
     
  8. friedice
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    friedice Active Member

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    I've made couple orders of Amex GCs in January on my CitiBiz card and they were treated as purchases.
     
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  9. Force
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    Force Active Member

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    Good to know. I will put GC purchase as a back-up for meeting spending thresholds.
     
  10. Robin
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    Robin Silver Member

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    Thanks for letting us know.
     
  11. vitousa
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    vitousa Active Member

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    Mint does not accept Amex gift cards anymore.
     
  12. vitousa
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    vitousa Active Member

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    Also, buy through bigcrumbs to get 1.6% cash back.
     
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  13. myhotrs

    myhotrs Active Member

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    I bought 1k of Amex gift certs on my AA Citi personal card a few months ago and was charged as a cash advance. I called and the CSR's had no idea why that would be and waived the fees. Also kicked in a $25 statement credit for good measure.
     
  14. gomike
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    gomike Silver Member

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    my citi cash advance limit is $0 and I was unable to order an amex gifcard with it so I think you are safe setting your CA limit at $0
     
  15. gomike
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    gomike Silver Member

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    How is that relevant?
     
  16. vitousa
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    vitousa Active Member

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    My bad. I thought he was talking about getting coins after the gift card.
     
  17. mikeef
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    mikeef Silver Member

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    I think he was talking about getting points from the gift cards. And you are correct, at least as of the last time I checked. No coins from the mint with Amex gift cards.

    Mike
     
  18. tzoom84
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    tzoom84 Silver Member

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    Anyone know if this is recorded as a purchase or cash advance for Chase? I may need to buy some to meet my BA spend in a few months...
     
  19. FlashBack
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    FlashBack Silver Member

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    Purchase. :)
     
  20. skynerd

    skynerd Active Member

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    Has anyone tried buying AmEx gift cards with Capital One Venture Rewards or Venture For Business Visa cards? If so, I would be interested in knowing which card you used and what the result was (that is, can you confirm that the transaction was coded as a normal purchase and you got "miles" for it)?

    Although the only card issuer that I've heard of having recoded AmEx GC purchases as cash advances is Citi, Cap1 is new enough with this crowd that I think it is worth asking if someone can explicitly confirm from experience that either of these Cap1 cards work fine for purchasing AmEx gift cards.
     
  21. marathon man
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    marathon man Silver Member

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    simple math

    CC==>BC/AGC(y=%=$16)==>sVGC(+$5.95feex2)==/2x$500USM= $1,000spend + $4.10net.

    -$8.95 S/H = loss = $4.85 on $1k.

    But, do a $5k order and, while there's that extra "s" step in there, you start to make money on this entire process, albeit only a small bit.

    Most people can order max $5k AGCs so use this example: ($5k AGC @ 1.6%) = $80 - ($5.95 VGC s fee x 20) = $59.50 = $20.50 net gain + your miles/points!

    And you now have VGCs which do currently work at the Mint, for those here who wanted to know (seeing as how AMEX ones do not, and you gotta burn em once you got em)

    Also, call Citi and ask them to set your CS to $0 and send you a secured message confirming it. Citi's are currently the only CCs that will do this. Do it for $0. Not any other amount. Once you do this, a transaction will either go through or it will not, but you will NOT get charged a CA fee. Or if you do, you could easily contest it and win.
     
  22. skynerd

    skynerd Active Member

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    CC: Credit Card
    BC/AGC: BigCrumbs (rebate site) / American Express Gift Card. If you click on "custom message gift card", you can choose any value up to $3k, so you can add exactly the fees you need for the "S&S" step. Also, if you select the custom gift cards, your name will be embossed on the credit card, which apparently is enough of a security improvement that AmEx waives their normally draconian policy of demand that UPS physically deliver the card only to you in person. This waiver simplifies delivery but also theft. I believe you can call AmEx gift card support to have the card deactivated prior to delivery if think the chance of theft is high enough to be worth bothering. A promotion code, such as EMMOTVMC, should waive activation fees, and, if you have a "real" (Centurion Bank) American Express card, you can do a free 90 day trial of the premium shipping program to waive shipping charges.
    sVGC: S i m o n M a l l s Visa Gift Card? I believe Simon Malls sells Visa gift cards for up to $500 value + $5.95 fees, which you can pay by AmEx, but I don't know if the mint accepts them.
    USM : United States Mint

    Whether this extra effort is the most $/hour you can make is doubtful when you consider the alternative of finding some normal part-time work, but, psychologically, I completely sympathize with the attraction of getting that extra half a percent from a mint purchase. Thanks, Marathon Man!
     

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