Pre-loading credit card with cash

[splatty]

Hi, I'm new to this site.

So anyway, I just got a professional association branded Gold Amex yesterday, with a stupidly low credit limit of $2500 probably because I haven't lodged my first tax return having worked as a sole trader for the past year and a half. Just as an FYI, my combined credit limit for my other 2 cards are roughly $16000.

I was going to use the Amex (linked to QFF of course), to pay for my association fees and insurance which are about $3000, together with my tax bill from last year, roughly $30k.

I'm thoroughly annoyed at Amex already, as this credit limit is below even my membership fees, and having emailed and called them, getting the same moronic customer service officer both times, I was told there is no way to increase my credit limit within 6 months nor is there a way to preload my card with any money as this would be contravention of the anti-money laundering act.

I call bulls**t on this as I have done it on other cards, as have other people in the ATO thread. Being a rewards points forum, of course I want to maximise my points if possible. Anyone got any bright ideas? I would pay it on my CBA card, but I'm already halfway to my 50000 points this year unless I upgrade to a gold at the expense of ~$100...

Cheers guys!

[markis10]

Welcome to AFF, I have had my Amex cancelled mid trip as a result of it being in credit, so while the excuse is BS, the fact remains Amex do not permit it, and at the end of the day I suppose its their call on their product. Aside form getting a different card or keeping purchase below the limit with prompt payment I am not sure what can be done.

[splatty]

Amex is so stupid

I think I might be better off just ugprading my CBA awards to gold for an extra $50 to take advantage of the points and just roll everything into QFF for an extra $10.

[markis10]

Amex is so stupid

Some of the members here may share your feelings but think that's a good thing with some of their recent promotions .

[FuzzyAUS]

Or try another option, ask for your membership fees to be taken over 2 payments a few days apart, it will allow you to spend the money (1/2 the fees), reload the credit card and repeat as many times as you need.

I used to have to do that with a personal amex with a 30k credit limit as some bills were much higher..

cant hurt asking, worst case they say no, but ive never experienced someone not willing to split a payment when you are giving them money.

The spend over a 18-24 month period got me a Centurion invitation a few years back, now i dont have the problem

[cove]

Amex direct branded cards must not be put into credit as if you do the card may get stopped from running as Markis10 experienced.
If you want to Amex various bills you need to think of getting a Bank branded card as you can load these into credit no problem. Today I did that with my point and a half Westpac Amex by cashing a cheque at the counter so the extra funds are immediately available on top of the credit limit.

[JohnK]

There is a perfectly valid reason why it is called a credit card.

Amex has threatened to cancel any card that is in credit. Still can't work out why Wizard allows credit cards to be in credit and used for cash advances as they gain nothing from it.

[cove]

The credit cards that I have put into credit so far are :
Westpac Kris Platinum Amex
CitiSelect Visa

Late this week I will have my Woolies EDR card in credit for the first time.
With my Amex Ultimate both work and home paid the balance,one by phone and one by BPay and so as soon as I realized I paid a tax bill to neutralize the problem.
It is no joke to get a direcltly branded Amex card stopped from working especially if you are travelling.
In fact I believe Amex will cut a cheque and snail mail it to you....so that would be a bit of an OUCH especially when you are travelling.

[coolsteps]

Amex is so stupid

I think I might be better off just ugprading my CBA awards to gold for an extra $50 to take advantage of the points and just roll everything into QFF for an extra $10.

Splatty CBA are having a promo at the moment that offers no annual fee on their personal credit cards. just visit a branch and ask for a product migration form and get a free upgrade with no annual fee for the first year. im not sure if it will also work for business cards ? also the call centre told me that they treat any CBA credit cards that have positive balance as a cash advance when you withdraw the cash at a ATM and charge you other fees. so i havent been game to try it.