ethiopianbuffman

I just saw this too. I was thinking about collecting some.

Question: Can we use these to buy coins? I would assume so since it is like a AMEX card. That would be a good way to turn them into cash.

TrueBlueFlyer

there are those sneaky gift cards, like those issued by Citi Bank, that have monthly maintenance fees

if anyone remembers the $50 gift card for test driving a Dodge pick up that was posted in spam a year ago, by the time I got to use the card $9 bux was lost to service fees.

Astrophsx

Just remember if you can't pay off your credit card in 30-60 days you will incur interest on the charges. Also, for buying coins this will not help most people who have hit their limit, as most people have posted that changing credit cards has not allowed them to exceeded the given household limit.

These cards have been widely talked about over at fatwallet. The problem you may run into is that these cards do not have your address attached and it does not seem very easy to call in and register the card with your address. This knocks out paypal charges, and there hasn't been much talk of use with the USmint, but I would wonder with such large charges if they would not want your card to be attached to your address.

The limit on each card is $3k and $5k as well as most shipping fees are not waived, so you will want to do that free 90 shipping program they have.

Happy

Oops I do not realize that, I have one of this and still not use it yet. Because now it is Feb, I have lost $12 in maintenance fee. Should have read the fine fine print at the back of the page! Lesson learned again!

lin821

Fees associated with Amex GCs had been discussed in other threads. Here's one example thread:

Buying Amex Gift Cards for Points then.....

nsr

The thread you're referring to is out dated. Amex GC no longer have after purchase fees. Shipping fees can be waived for 3 months using the Amex premium shipping program free trial. The purchasing fees can be also waived (from time to time Amex publish a code for it) or you can use one of the cash-back sites to get back part of the cost (if not more than the actual fee).

lin821

Like I saed, it was just an example of previous discussion of Amex GCs in MilesBuzz!. If you venture into say the Amex TCs thread, you'll see Amex GCs posts about fees there as well.

Amex did update and change some of their terms for GCs during the last couple of months. It's always a good advice to read the terms and conditions of any kind of cards (CCs, GCs,...etc). That's why I provided the links to terms & FAQs up thread.

Certain after purchase fees, such as monthly fee, have been removed by Amex. However, the purchase/activation fee is still there. From time to time, promo codes may help cut down the "cost" in associated fees. However, for in-store GC purchases, one will still have to pay for the card-value-based one-time activation fee. Besides, promo codes/offers expire. They are not around all year long.

IMHO, fees have to be factored in when taking upon GC deals. GC is not as clear cut as CC. Let the buyer beware.

ethiopianbuffman

From what it looks like:

AMEX GCs earn points on your CC

AMEX GCs do not have purchasing fees with current promo code

AMEX GCs do not have recurring monthly fees

After expiration of GC, AMEX will send check for outstanding amount. Currently people are reporting getting cards that expire in 2014.

Have to call in to associate address with gift card

Can order max $5k in 1 order

Unknown is whether or not you can order from US Mint with AMEX GC as even though places accept AMEX CC, not all accept AMEX GC.

lin821

Actually from Amex GC FAQs, they issue a replacement GC. A check may be requested. Whether Amex will issue a check when a GC expires is an untested practice/theory for now, since 2014 is still four more years away.

Now factor in the fund one will be tied up with such purchases.

Say you purchase a $5K Amex GC this month, with promo codes & zero fee. And your plan is to get the $5K check. Are you willing to wait till the card expires in 2014 then request the check? Remember you'll have to pay $5K balance when your credit card statement comes next month. Without spending any fund, Amex sort of gets a 4-year free loan from you. OTOH, you have a $5K fund tied up in a GC that earns you zero interest. Let's say you end up spending $2K in March. OK. Now you only have $3K tied up. But if you had charged that $2K to your say SPG Amex, that would earn you 2000 SPG points.

All I can say is this turning-AmexGC-to-check deal may not be that attractive after all. YMMV.

If your intention is simply to hit the spending requirement, maybe this thread will be a better read:

If US Mint/credit card issue comes true,any ideas for using new cards for bonus miles?

DLATL777

Somewhat unrelated question (I do not intend to Hijack); Does a paypal transaction made using a Credit Card count as eligible spending for bonuses (say, for instance, on the SPG card?). My idea was to do the following:

Pay my friend XXX amount via paypal using credit card. He could reimburse me off line. Would this work?

Grazie

gomike

Yes it would work, against paypal and your CC terms but it will work. Do it often and paypal will close your account.

aviators99

Where "often" could be once or twice...

jeelele

Not close your account but freeze your account and all the funds that you have on there. Very risky IMHO and not worth it. Avoid it if you can.

RichFisher

Only if directly withdrawn from you checking account. Paying with credit cards requires an account where there are fees.

jlgrandam

Though I have participated in AMEX GC deals in the past, one scary feature is that if your card is compromised and money is stolen from it, you will NOT get that money refunded according to the T&C's! So beware with high value GC's, this is a BIG risk imo.