American Express Membership Rewards - A way to earn free MR points with your AMEX Platinum...

Well I have thought of something... I do not know what the restrictions are, BUT if you receive MR points for the purchase of fee-free, travellers cheques, via your platinum card, couldn't you easily deposit those TC's in your bank account, and earn interest, as well as MR points??? Seems possible..

From Amex's web site:
"Fee-Free American Express Traveler's Cheques & foreign currency by phone. As a Platinum Card member, you can have foreign currency or fee-free American Express Travelers Cheques-in any of nine currencies-delivered directly to your door within five to seven days at no extra charge. (Next-day delivery is available at a special low rate.) And you'll pay no fees for Travelers Cheques when ordering directly from American Express."

Unfortunately also from Amex's website (buried in terms and conditions:

"4. The Cardmember will not accrue points in his/her Program account for the following: Savings, Cash Advance Services, and Balance Transfers; Privileged Assets SM, Express Cash; American Express Travelers Cheque and Gift Cheque Purchases; Cash Advances; Fees and Interest; Charges for Dishonored Checks; Finance Charges — including Line of Credit Finance Charges; Sign & Travel Finance Charges, Special Purchase Account; Finance Charges, and Eligible Optima Card Finance Charges; Delinquency Charges; Bulk Mail Charges with the U.S. Postal Service; Program Annual Fees; Card Account Annual Fees; Fees for Enrollment-Based Cardmember Services."

wigstheone.. Thanks for the tidbit..

My next step was to go home, and dig out my terms, and check for that sort of clause...

Still seems like an easy way to float $10K for thirty days, doesn't it?? I mean, the billing cycle lends itself to this.. Please allow me to explain:

January 4th - February 3rd => 1 Billing cycle

As long as your payment is posted to your account by March 3rd, your account is current for that billing cycle.. I confirmed this with AMEX.. Rather intersting isnt it??

W... the clause states "American Express Travelers Cheque and Gift Cheque Purchases".. This means when you actually USE the TC to purchase something.. What I am talking about is when you buy the TC's themselve with your card, and then deposit the TC's into your bank account..

I will call to verify this.. But it seems you will receive points for purchasing the TC's, just not for using them??

Amex will charge interest and it will accrue until the cash advance/TCs are paid in full. And, no unfortunately we can't get miles. http://www.flyertalk.com/forum/frown.gif