[EXPIRED] Buy Traveler's Checks with AMEX cc
#16
Join Date: Mar 2000
Location: Santa Cruz, CA USA
Programs: AA, UA, WN, HH, Marriott
Posts: 7,290
#17
Join Date: Aug 2004
Location: SDF
Posts: 3,302
And JetBlue.
SPG card is basically tied to a ton of airlines.
SPG card is basically tied to a ton of airlines.
#18
Join Date: Apr 2005
Location: YUL
Programs: AC SE
Posts: 2,103
And Air Canada...
Any idea if this works at independent amex franchises rather than corporate centers?
Any idea if this works at independent amex franchises rather than corporate centers?
#19
Join Date: Jan 2007
Posts: 5,679
I'm guessing Amex crunched the numbers, and the $$$ they make from Travelers checks that are lost and forgotten about exceeds MR points they'd lose.
#20
Join Date: Jan 2000
Location: Ashburn, VA (IAD/DCA/BWI)
Posts: 2,748
You don't want to use MR earns AmEx cards.
Membership Rewards®Terms and Conditions
If you are an existing American Express Cardmember with a Membership Rewards relationship, your account will be linked to that existing relationship and a $10 fee may be assessed for each relationship. Annual linkage fees may also apply if you have a Corporate Card or Business Card from OPEN from American Express® linked to your Membership Rewards account. For more information or to enroll in the Membership Rewards program, visit open.americanexpress.com/smallbusinessrewards or call 1-800-AXP-EARN (297-3276).
The following are not eligible to earn Membership Rewards points: Savings, Cash Advance Services, and Balance Transfers; Privileged Assets(R) and Express Cash; AMEX Travelers Cheque and AMEX Gift Cheque Purchases; Cash Advances; Fees and Interest; Charges for Dishonored Checks; Finance Charges - including Line of Credit Finance Charges, Sign & Travel Account Finance Charges, Extended Payment Option Finance Charges, BusinessFlex Finance Charges and Eligible Optima Card Finance Charges; Delinquency Charges; Bulk Mail Charges with the U.S. Postal Service; Program Annual Fees and Program Migration Fees; Card account annual fees; fees for enrollment-based Card services.
If you are an existing American Express Cardmember with a Membership Rewards relationship, your account will be linked to that existing relationship and a $10 fee may be assessed for each relationship. Annual linkage fees may also apply if you have a Corporate Card or Business Card from OPEN from American Express® linked to your Membership Rewards account. For more information or to enroll in the Membership Rewards program, visit open.americanexpress.com/smallbusinessrewards or call 1-800-AXP-EARN (297-3276).
The following are not eligible to earn Membership Rewards points: Savings, Cash Advance Services, and Balance Transfers; Privileged Assets(R) and Express Cash; AMEX Travelers Cheque and AMEX Gift Cheque Purchases; Cash Advances; Fees and Interest; Charges for Dishonored Checks; Finance Charges - including Line of Credit Finance Charges, Sign & Travel Account Finance Charges, Extended Payment Option Finance Charges, BusinessFlex Finance Charges and Eligible Optima Card Finance Charges; Delinquency Charges; Bulk Mail Charges with the U.S. Postal Service; Program Annual Fees and Program Migration Fees; Card account annual fees; fees for enrollment-based Card services.
#21
Join Date: Jan 2006
Location: SEA
Posts: 398
reporting requirement.
#22
Join Date: Jul 2004
Posts: 178
I travel to Thailand frequently and prefer AMEX traveler's checks to carrying cash and when I do cash them in, in Thailand, I get a better exchange rate than with cash.
#23
Moderator: Mileage Run, InterContinental Hotels
Join Date: May 2004
Posts: 5,910
Another problem, many small Amex Travel Centers (usually run by local TAs) won't be able/want to help you with this. I've inquired at various locations, and have usually been told that they require cash/only allow this scheme with Amex Plat and Optima. Plus, it's a fairly bureaucratic process, and I couldn't picture myself dealing with weekly purchases with three different Amex cards. Now, if it were 10 times the number of miles...
#24
Join Date: Feb 2006
Location: DC Metro (WAS--DCA/IAD/BWI)
Programs: AA Plat 2MM, OW Sapphire, QF Bronze, Marriott Silver, Starwood Gold; National Emerald
Posts: 2,533
I am going to do a big trip in the Fall.
What are the advantages of getting Travelers Checks over just using a CC while there?
And what about foreign currency Travelers Checks? Is the value of the $ falling enough to make it worthwhile getting Yen and Aust$ now for a Fall trip?
Thanks,
Steve
What are the advantages of getting Travelers Checks over just using a CC while there?
And what about foreign currency Travelers Checks? Is the value of the $ falling enough to make it worthwhile getting Yen and Aust$ now for a Fall trip?
Thanks,
Steve
#25
Join Date: Dec 2005
Location: Austin
Programs: CO-Plat, DL-Gold
Posts: 518
I did this Amex thing last year for a while, getting my $1000 worth of TCs each week, and immediately depositing them at my bank.
After roughly 6 weeks I got a letter from Amex advising that they were looking into "suspicious activity" on my credit card account. I stopped, and never heard anything from them again.
Does anyone here have experience doing the TC thing over a longer term timeframe?
After roughly 6 weeks I got a letter from Amex advising that they were looking into "suspicious activity" on my credit card account. I stopped, and never heard anything from them again.
Does anyone here have experience doing the TC thing over a longer term timeframe?
#26
Join Date: May 2004
Location: LAX
Programs: CO Platinum HHonors Diamond Avis President's Club
Posts: 2,312
peace,
~Ben~
#27
Join Date: Jan 2000
Location: Ashburn, VA (IAD/DCA/BWI)
Posts: 2,748
I had same experience at an exchange desk at ICN; there is a exchange desk just before you exit the custom area which offered better rate than outside the custom area including cash exchange.
#28
Original Poster
Join Date: Apr 1999
Location: Oak Park, IL
Programs: AA 2 MM LIfetime Platinum, SPG Platinum, Hilton Silver, BA
Posts: 3,585
schmare - perhaps the problem was that you immediately cashed the checks. I wonder if the same thing would happen if you cashed them more gradually. That is what I am trying. I have some old travelers checks that I collected and I am cashing them and depositing them first. I haven't done it all at once for fear it would get reported somehow. We'll see if I get a letter if I haven't cashed any of the checks I've gottn in the last month. Also if they were all cashed "at home." I am sure that they can track all of this. As far as they know, I am saving for a major trip.
#29
Join Date: May 2004
Location: LAX
Programs: CO Platinum HHonors Diamond Avis President's Club
Posts: 2,312
I came across this Amex TC opportunity when I was looking for the next best thing after the Gift Card churning came to an end about a year or so ago. At the time it seemed like too much of a pain, but now that I'm in Manhattan where there are 8-12 Amex corporate centers I could do this, I'm definitely considering it.
Anyone who's done it low key for a while, I'd appreciate any tips.
peace,
~Ben~
#30
Join Date: May 2004
Location: LAX
Programs: CO Platinum HHonors Diamond Avis President's Club
Posts: 2,312
schmare - perhaps the problem was that you immediately cashed the checks. I wonder if the same thing would happen if you cashed them more gradually. That is what I am trying. I have some old travelers checks that I collected and I am cashing them and depositing them first. I haven't done it all at once for fear it would get reported somehow. We'll see if I get a letter if I haven't cashed any of the checks I've gottn in the last month. Also if they were all cashed "at home." I am sure that they can track all of this. As far as they know, I am saving for a major trip.
If I buy $10,000 in TCs one day and cash them at the bank even just a week later (or even a day later), they've earned interest on that money and it hasn't cost them anything transactionally. Why wouldn't Amex ENCOURAGE people to do this?
peace,
~Ben~