Buy with credit card, return for cash?

For just about anything you want to get off your chest about credit cards.
7 posts
flixer
 
Posts: 1
Joined: Mon Nov 08, 2010 3:50 am
Location: Vegas

Buy with credit card, return for cash?

Postby flixer » Mon Nov 08, 2010 3:55 am

Are there any stores that allow you to buy with a credit card and return for cash? I see this has potentially having two benefits. I get cash instead of taking a cash advance. The second benefit is the rewards I would get. I don't see why any credit card issuer would care because there's no difference to them since they still got their processing fees for the purchase. Am I right?


User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Wed Nov 10, 2010 2:05 am

Tonight I returned something for $17 at Whole Foods that I bought with a credit card and I was given cash in return, but something tells me you are after much bigger amounts than that!
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

User avatar
Cucumber
Centurion Member
Centurion Member
 
Posts: 567
Joined: Tue Apr 22, 2008 12:44 am
Location: Zuma

Postby Cucumber » Fri Nov 12, 2010 4:44 pm

I don't think there are any stores that will do this for any decent amount of money.
OBAMA
Stop talking crap about him!


DoingHomework
Centurion Member
Centurion Member
 
Posts: 707
Joined: Tue Sep 22, 2009 1:15 pm
Location: Arizona

Postby DoingHomework » Tue Nov 16, 2010 4:35 pm

flixer wrote:I don't see why any credit card issuer would care because there's no difference to them since they still got their processing fees for the purchase. Am I right?


Often they refund the fees to the merchant for returns. So, no, they do not still get their fees!

The reason card companies charge more for cash advances is because their risk is higher. If you figure out a way to get cash from your card without paying interest right away, you can bet that the scam won't last very long. People figure out those things all the time and exploit them for a while but the card companies eventually find out what was going on and close the gaps.

jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Wed Nov 17, 2010 8:24 am

Mogul of Pineapples wrote:Tonight I returned something for $17 at Whole Foods that I bought with a credit card and I was given cash in return, but something tells me you are after much bigger amounts than that!


Was it pineapples?
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Sat Nov 20, 2010 4:22 pm

jeffysdad wrote:Was it pineapples?


Ha! No but with the prices Whole Foods charge, I wouldn't be surprised if $17 is the price of a pineapple there! I buy my produce at Trader Joes. The only things worth buying at Whole Foods are what you can't get find anywhere else.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

ramesh007
 
Posts: 1
Joined: Thu Nov 25, 2010 5:41 am
Location: USA

Postby ramesh007 » Thu Nov 25, 2010 6:00 am

I dint know about this is it true ??



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 4 guests
†Advertiser Disclosure
The credit card offers that appear on this site are from credit card issuers from which CreditCardForum.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CreditCardForum.com does not include all credit card offers that might be available to consumers in the marketplace.