Using AMEX to send $$$ to account

Discussion in 'American Express Rewards' started by CdaWorld, Feb 27, 2005.

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  1. CdaWorld

    CdaWorld Junior Member

    Dec 17, 2004
    40
    0
    Sydney
    Is there a way to put funds through one's AMEX card and then transfer the credit to a personal savings account?

    I'm about to receive a lump sum and this will pay a nice chunk off my mortgage. I just hoped that for such an amount it would be nice to get something back from it - ie rewards points.

    So I wonder - can my crazy scheme work? And then - how?
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  2. johnsmith

    johnsmith Member

    Dec 5, 2004
    100
    0
    The only way to get rewards points is to purchase something with your card. I know everything there is to know about credit cards and if it was possible to scam free points then I would be doing it.
     
  3. CdaWorld

    CdaWorld Junior Member

    Dec 17, 2004
    40
    0
    Sydney
    I should have bought my apartment on the card in the first place then!!
     
  4. johnsmith

    johnsmith Member

    Dec 5, 2004
    100
    0
    It is unlikely that a seller would accept payment by AMEX for such a large item. They would have to pay the credit card surcharge fees of about 3%.
    I purchased some vehicles using my mastercard and i had to pay the surcharge fee of 1%. It was still viable for me to pay this since the points are worth 2c each to me.
     
  5. NM

    NM
    Moderator

    Aug 27, 2004
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    You could always offer to pay all your friends and relatives bills on your Amex card, and in turn have them pay the money to your mortgage. But how much do you trust your friends and relatives :roll: .
     
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