Potential Loophole?

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9 posts
natepain
 
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Joined: Fri Jun 07, 2013 1:25 am
Location: Canada

Potential Loophole?

Postby natepain » Fri Jun 07, 2013 1:26 pm

Hello,

I've heard of people who bought Tim hortons gift cards from grocery/drugstore, to gain rewards on their amex before Timmy's started accepting amex. What I'm wondering if anyone has done or thought of buying prepaid visas/mastercards at the grocery store to gain rewards on amex? Would that work? Would you still get you're 4% bonus for shopping at a grocery store? Or would you get the base 1%?


cashback
Centurion Member
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Fri Jun 07, 2013 3:48 pm

No. That doesnt work...
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Moneytalks
Centurion Member
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Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Fri Jun 14, 2013 7:07 pm

cashback wrote:No. That doesnt work...


I don't think you would get the 4% bonus, but you should get some MR points because it's still a purchase. I just bought a gift card with my amex and I got the points for it.
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Gamma
Centurion Member
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Posts: 464
Joined: Sat Sep 15, 2012 1:15 am
Location: Los Angeles, CA

Postby Gamma » Fri Jun 14, 2013 9:27 pm

cashback wrote:No. That doesnt work...

I thought buying those in groceries/drug stores does count for additional cashback/rewards depending which card you have. Alot of people in FT seem to have success doing so, but recent reports showing Amex catching on.

cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Fri Jun 14, 2013 10:27 pm

cashback wrote:No. That doesnt work...


Sarcasm... For the newb question.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Gamma
Centurion Member
Centurion Member
 
Posts: 464
Joined: Sat Sep 15, 2012 1:15 am
Location: Los Angeles, CA

Postby Gamma » Fri Jun 14, 2013 10:49 pm

Ok gotcha. I got a bit confused when I saw Moneytalks agreeing.

Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Sat Jun 15, 2013 9:23 pm

Ok, so just to clarify,so I can sleep tonight, you get the points for purchasing gift cards from grocery stores, and you get the 4% "bonus" for groceries??!

Because now I'm confused haha
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

RewardHop
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Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Sun Jun 16, 2013 12:28 am

The credit card company doesn't know what you buy at the grocery store. Buying gift cards just shows up as a regular purchase at the grocery store, just like buying milk and cereal. Just keep in mind the credit card company knows if you suddenly spend a thousand dollars at the grocery store in a day.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

Jacksnow
Platinum Member
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Posts: 67
Joined: Sun Jun 09, 2013 12:51 am
Location: USA

Postby Jacksnow » Thu Jun 27, 2013 3:21 pm

They will take notice at some point and they *will* make your life miserable.

Very very miserable.



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