RewardPay Alternatives

[ferni]

As mentioned - we've had issues with our merchant account who shut us down without any warning or reason. We've been trying our hardest to work with them over the past 2 weeks since it happened but to use the word frustrated would be an understate. Until we can find another merchant provider that makes this economically feasible at the 1.95% rate we are out of luck sorry

 

[daft009]

As mentioned - we've had issues with our merchant account who shut us down without any warning or reason. We've been trying our hardest to work with them over the past 2 weeks since it happened but to use the word frustrated would be an understate. Until we can find another merchant provider that makes this economically feasible at the 1.95% rate we are out of luck sorry

bugger no other merchant coming close? Stripe? Square etc?

 

[ferni]

bugger no other merchant coming close? Stripe? Square etc?

Nope, plus the type of business means a lot of them stay away

 

[jabbairc]

@ferni all good mate, waiting for a solution, thanks for the heads up

ALL - Question, a bit different (I'm new so may already be covered, sorry!)I was thinking, if my AMEX is in credit above the limit (I paid out the amount outstanding much more than due by mistake) I just had a thought could I use that to pay a larger ATO bill with Ferni / RP etc, I assume it would go through, but would I get points for the whole thing? (example limit $20K, card is in credit to $30K can I use the whole $30K and get my points for the full amount of the transaction amount above my credit limit since the cards in a credit to the full amount?

Another Q is can I pay employees (do you guys do this) with Ferni/RP etc? I've not done this yet.

thank you!

 

[Saltywings]

@ferni all good mate, waiting for a solution, thanks for the heads up

ALL - Question, a bit different (I'm new so may already be covered, sorry!)I was thinking, if my AMEX is in credit above the limit (I paid out the amount outstanding much more than due by mistake) I just had a thought could I use that to pay a larger ATO bill with Ferni / RP etc, I assume it would go through, but would I get points for the whole thing? (example limit $20K, card is in credit to $30K can I use the whole $30K and get my points for the full amount of the transaction amount above my credit limit since the cards in a credit to the full amount?

Another Q is can I pay employees (do you guys do this) with Ferni/RP etc? I've not done this yet.

thank you!

Yes. We had a 7-figure tax bill awhile back and you'd better believe I did not want to waste my time doing 100+ payments with a $15k limit card haha. The points all pay out - have confirmed this with multiple CCs, Amex included.

Yes to your second question also, but these days I question the value of that given the current low-point-earn world.

 

[mrtupperware]

I thought Amex don’t like it if you put your card in “positive” balance?

 

[albyd]

I believe that it's ok to put a charge card in positive balance but not a credit card - though depending on how much it is, it should be find if not allowed to be in credit for an extended period of time. Same as US banks not letting you put your credit card in credit to facilitate a larger payment than your credit limit. In Australia, it's the 'norm'.

 

[daft009]

I thought Amex don’t like it if you put your card in “positive” balance?

I've done it for 24-48hrs and never been an issues in the 3yrs I had the amex explorer
basically put it into credit, once the extra funds appeared pay a couple of big bills within the 1-2 days and use it up again

 

[Oxy]

I did this once on my Business Explorer as I had many bills to pay, greater than my limit in a short space of time. Card got put on stop, and when I rang and explained that I was about to make many "purchases" and take it out of positive balance territory, the card was reinstated for use, and I was given 24 hours to spend it.

Explanation from agent was that Amex don't have a full AU banking license, and can only deal with credit, not positive balances.

 

[Cruiser Elite]

Have put multiple AMEX Charge Cards into +ve by $100sKs over 30 years - n ever been queried

 

[amaroo]

I thought Amex don’t like it if you put your card in “positive” balance?

You can preload a charge card all you want.

I've been warned off preloading their credit card .... the warning was made via a phone call. Doesn't really matter now as the charge card is the only one worth having for super duper purchases.

 

[jabbairc]

ALL - you guys are legends, thank you!

Agree on earn rate reference, I think it depends, from my calcs it still makes sense with 2pts per $ spent on Explorer/PE combo (though considering dumping PE every week) particularly on Biz Class redemption, for example Etihad is 200K points to return to Abu Dhabi in Biz class. by my calcs, transfer to Etihad is 2:1, so effectively 1:1 ($ to points) against every dollar spenT.

So if I eventually spend $200K with one of our solutions I get an approx $7K biz class ticket (low season otherwise $10K!) for just under $3K actual cost of transaction - lets use the RP 1.47% fee after tax rate as an easy one, spend $200K cost of transaction $2940,, ferni wld be even better! .

I think that’s worth it...15hrs on a full flat bed, return Biz Class...compared to a $1400 low season economy ticket outright.

Qs :
1/ Would be keen on your thoughts or if I’ve missed something here?
- is there a better more efficient or optimal way, flight solution? Card/combo or other?

2/ What’s been your best optimal use plan/model with the AMEX devaluation?

3/ Have you all dumped the PE in the PE/Explorer combo?

Thank you all!

 

[mrtupperware]

Post tax your cost per point is about 1.3c based on 1.47% after tax. How many points is the flight you are referring to?

 

[jabbairc]

Post tax your cost per point is about 1.3c based on 1.47% after tax. How many points is the flight you are referring to?

hi there - I think i wasn't clear in my post, the 1.47% is after tax, their rate on that tier is 2.10%, flight as in the post is actually 200,000 Etihad points, on AMEX we get 2:1 then 2:1 back to Etihad, so basically $1:1 point effectively so you need to spend $200K for enough points for the ticket. The cost is therefore the transaction cost of the $200K going through at 1.47%, so $2940 - is that better?

 

[mrtupperware]

If the flight is 200,000 Etihad points and each point costs you 1.3c post tax then your cost will be $2,600 (I think you didn’t take into account the points earned on the fee)

 

[blacksultan]

ALL - you guys are legends, thank you!

Agree on earn rate reference, I think it depends, from my calcs it still makes sense with 2pts per $ spent on Explorer/PE combo (though considering dumping PE every week) particularly on Biz Class redemption, for example Etihad is 200K points to return to Abu Dhabi in Biz class. by my calcs, transfer to Etihad is 2:1, so effectively 1:1 ($ to points) against every dollar spenT.

So if I eventually spend $200K with one of our solutions I get an approx $7K biz class ticket (low season otherwise $10K!) for just under $3K actual cost of transaction - lets use the RP 1.47% fee after tax rate as an easy one, spend $200K cost of transaction $2940,, ferni wld be even better! .

I think that’s worth it...15hrs on a full flat bed, return Biz Class...compared to a $1400 low season economy ticket outright.

Qs :
1/ Would be keen on your thoughts or if I’ve missed something here?
- is there a better more efficient or optimal way, flight solution? Card/combo or other?

2/ What’s been your best optimal use plan/model with the AMEX devaluation?

3/ Have you all dumped the PE in the PE/Explorer combo?

Thank you all!

After the devaluation hasn’t the value of combining the PE and explorer been eliminated because both gateway and ascent have the same transfer out / conversion rates ?

 

[daft009]

After the devaluation hasn’t the value of combining the PE and explorer been eliminated because both gateway and ascent have the same transfer out / conversion rates ?

Yes conversion is the same. Earn is slightly better with PE due to the 3ppd on fuel and groceries

 

[Saltywings]

Back when I had the Explorer I regularly put it into credit of >$80k with zero issues whatsoever.

 

[jabbairc]

Yes conversion is the same. Earn is slightly better with PE due to the 3ppd on fuel and groceries

yes I still use it for groceries - but not sure I'm getting $200 value (fee), then I can use it for travel, but can't combine with the $400 credit for the Explorer, so it's a bit messy and still uncertain on value here of PE anymore.

 

[jabbairc]

If the flight is 200,000 Etihad points and each point costs you 1.3c post tax then your cost will be $2,600 (I think you didn’t take into account the points earned on the fee)

ok didn't see it this way - very interesting