Square Credit Card Readers and Point Cards

Discussion in 'Other Credit Card Programs' started by y2kdread, Apr 16, 2011.  |  Print Topic

  1. y2kdread
    Original Member

    y2kdread Active Member

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    Has anyone though of using one of those square credit card readers to get points on cards with promos quicker?

    https://squareup.com/

    You can get a card reader and setup an account with Square. Once you get the reader you can then charge your card for the amount you need to get the promo. Square takes 2.75% of the transaction as a fee and you get the remainder deposited back into your bank account.

    I figured this might be a good way to meet the point requirements. It isn't free, but if you used it for the Citi 75K mile promo the $110 dollar fee might be worth getting your points within the first billing cycle.

    What does everyone else think?
     
  2. Halothane
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    Halothane Silver Member

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    Too expensive but will admit that it's a fairly easy and pain free process when compared to coins.
     
  3. deant
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    deant Milepoint Guide

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    To me, the problem is not the cards that have a $1 or $2K spend requirement. Those are typically easy enough to do with normal spending or coins. The problem is the $10K type spend requirements. The 2.75% adds up quickly for that type of expense and is not worth it.
     
  4. Spangenberg
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    Spangenberg Gold Member

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    Not for my points cards, but I use it primarily for my AARP cash back card. I get 2.75% on everything i swipe. No other fees besides the 2.75% and no daily or monthly limits.
     
  5. FlashBack
    Original Member

    FlashBack Silver Member

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    You might want to read the T&C that you agreed to when you signed up. You are in direct violation of them. There are also IRS regulations you might want to look into.
     

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