Using AMEX to send $$$ to account

[CdaWorld]

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?

 

[johnsmith]

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.

 

[CdaWorld]

I should have bought my apartment on the card in the first place then!!

 

[johnsmith]

I should have bought my apartment on the card in the first place then!!

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.

 

[NM]

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: .