Bitcoins with American Express

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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linuxmachine
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Postby linuxmachine » Fri Apr 18, 2014 1:19 pm

travisrauh wrote:You are unlikely to find a merchant selling bitcoins to accept American Express - and if they are, they're in breach of our merchant agreement. We consider Bitcoin to be a cash equivalent, and would therefore need to charge you the "Cash Advance" fees and APR. The problem is someone could buy bitcoin with their card as a purchase, sell the bitcoin for the cash, pay the bill, and get the points without having made any real spend. It devalues our rewards programme. I hope this helps to explain why you've been having such difficulty.


I'm wondering if this will change with the IRS's decision to treat bitcoin as property? I guess Amex's definition of cash advance is pretty arbitrary.

puppy: there's a far more practical reason that merchants don't sell bitcoin. merchants that allow bitcoin purchases don't keep bitcoin. they use a middle man like Coinbase, who accepts the bitcoin and then pays out the merchant. they're held mostly by private individuals and exchanges.


travisrauh
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Postby travisrauh » Fri Apr 18, 2014 5:11 pm

linuxmachine wrote:I'm wondering if this will change with the IRS's decision to treat bitcoin as property? I guess Amex's definition of cash advance is pretty arbitrary.


I should've been more clear - we wouldn't actually treat it as Cash Advance - we don't want to. That's why we just consider it a cash equivalent so that the transactions as a purchase cannot be authorised. It's for our own security, as well as for anti-money laundering purposes.
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puppy
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Postby puppy » Sat Apr 19, 2014 3:52 pm

mdl28 wrote:And why so interested in using Amex?


Because I only have amex credit card. I would like to use it online but im Not interested into buying physical items to be shipped to me or particular services such as website hosting, etc. So far I spent countless of hours, every day, to try to find some solution where to use it. Also amex's Serve isn't an option due to lack of withdrawal possibilities and unfortunately skrill (ex moneybookers) doesn't accept amex credit card IF they are issued in usa. Payza (ex alertpay) also doesn't accept amex cc so Im completely stucked. Don't know what else to do. I decided to call amex's support, asked my question if any kind of transfer could be done at least within http://www.americanexpress.com while being logged in but after verifying my identity they told me the only transfer that could be done is Bill Paying the expenses. Im also trying hard to see if there is any legitimate usa online money transfer service that could charge amex credit cards but no luck so far. Still searching where to use it online.

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djrez4
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Postby djrez4 » Sat Apr 19, 2014 6:00 pm

So, you're trying to find a way to make some sort of online purchase just for the sake of making an online purchase?
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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haikuginger
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Postby haikuginger » Sat Apr 19, 2014 6:07 pm

djrez4 wrote:So, you're trying to find a way to make some sort of online purchase just for the sake of making an online purchase?


From what it sounds like, he's probably trying to find a way to buy drugs. I think that's about the only thing that bitcoins can buy that an American Express card can't.

CUT to TINA FEY, recorded in black and white

TINA: Number eighteen of my twenty? Buying sketchy online currency so that I can by meth without using THE MAN's stupid fiat currency!

THE MAN: That's right, we totally can't track purchases made with Bitcoin. Absolutely safe.

puppy
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Postby puppy » Sat Apr 19, 2014 6:43 pm

haikuginger wrote:From what it sounds like, he's probably trying to find a way to buy drugs.


No need to insult me man. What you THINK doesn't necessary mean you are right based on assumption only. Also you probably expect from people who talk with you to behave well but if you are rude to others, how can you expect others/me to be polite to you? Again, no need to be rude and I never asked in my post to guess what I would like to do... Neither for any potential reasons why someone might not accept amex credit card payment. Im just asking where to use it. Thats all.

But anyway, Im trying to fund whichever ewallet (except paypal not) and/or im trying to find some way to transfer funds Online from my amex credit card but so far absolutelly nothing works. If applying for some merchant account with virtual POS cc processing gateway, that won't work either because they would just send to my bank account but funds are already there (source for credit card obviously). NOT ( ! ) interested to buy any physical product and/or known service (consulting, etc). Neither interested in games like casino, poker, etc, not even bets or investments (forex etc)... Spent months on this topic on google, researching everywhere, not a single success.

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djrez4
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Postby djrez4 » Sat Apr 19, 2014 9:38 pm

I think part of the problem is your tenuous grasp of the English language. You apparently can't be bothered to write an actual sentence.

Whether or not we can suggest methods by which you can fund an e-wallet with an Amex depends entirely on which e-wallet, amongst other pertinent facts. If you're not willing to tell the community what you're really trying to do, in detail, using appropriate syntax, we can't do much to help you.
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puppy
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Postby puppy » Sun Apr 20, 2014 7:23 am

djrez4 wrote:I think part of the problem is your tenuous grasp of the English language. You apparently can't be bothered to write an actual sentence.

Whether or not we can suggest methods by which you can fund an e-wallet with an Amex depends entirely on which e-wallet, amongst other pertinent facts. If you're not willing to tell the community what you're really trying to do, in detail, using appropriate syntax, we can't do much to help you.


I don't see any mistake in my English language? Anyway, I don't care which ewallet it is, as long as its not Paypal and/or Webmoney. It can be any such as:

- perfectmoney (they don't accept USA citizens but using intermediate location with AE cc and having offshore perfectmoney account makes it possible)
- skrill
- pecunix
- c-gold
- payza
- paxum
- btc-e (yes i know its not really ewallet but can be used for funding bitcoin)
- bitcoin
- solidtrustpay
- liqpay
- webpay
- walletone
- hd-money
- pexpay
- redpass
- ripple
- epayments
- even wu/mg (neither of them accepts AE cc directly)

So literally almost anything (excluding paypal, webmoney).

Don't know what is wrong if I ask my question here.. everyone seems to just want to argue with me for no reason :(

haikuginger
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Postby haikuginger » Sun Apr 20, 2014 8:47 am

Okay, so here's the question. If you've got money sitting in checking, why is it so essential for you to fund one of these e-wallets with your Amex? Because if they don't accept Amex, then they don't accept Amex. And if they do accept Amex, then your "funding" of the account will probably be charged as a cash advance.

puppy
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Postby puppy » Sun Apr 20, 2014 9:51 am

haikuginger wrote:Okay, so here's the question. If you've got money sitting in checking, why is it so essential for you to fund one of these e-wallets with your Amex? Because if they don't accept Amex, then they don't accept Amex. And if they do accept Amex, then your "funding" of the account will probably be charged as a cash advance.


It seems like you once again didn't understand my question. Because the only CC i have is AE. Obviously I cannot fund e.g. bitcoin wallet id Directly with AE CC. Im asking for intermediate location where could I send my AE CC payment and pay the fees. Got reply from amazon they don't sell bitcoins or its alternative ewallet funds. Noticed few guys on ebay sell bitcoins but a way too low amounts and ebay accepts only paypal. So not possible for me.
Buying virtual gift cards and reselling them would be an option but no time to search for buyers.



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