Great tip. 1st time I knew of this. But I agree that this thread should be deleted. Suggestion to the mods to leave open threads like this for 1 or 2 days and then delete. Maybe allow a new posting once a month or so.
But again, thanks very much!
I'm going to try it with $1000 every other week.
EDIT: Quick question: How do I increase cash advance limits? Do I have to call them or can I do it online?
Programs: AA 2 MM LIfetime Platinum, SPG Gold, Hilton Gold, BA
Posts: 3,547
call them and ask to increase your limit.
I think it is funny that now that you know about it, and didn't know before, this thread should be eliminated. I thought flyertalk was about sharing and helping one another. If everyone else felt this, we wouldn' have a bulletin board. Let me think of all that has been shared.
TC from Chase
c2it
savings bonds
gift card at Wal Mart to use at Sam's Club
Double coupons for Healthy Choice
Oh, I'll just stop at that. Except for the savings bonds and Wal Mart which I found out or figured out on my own, I would not have benefited had it not been discussed here. I am always grateful to those who share.
Programs: CO Platinum HHonors Diamond Intercontinental Ambassador Avis Chairman's Club NW/Redtail Refugee!
Posts: 2,313
Quote:
Originally Posted by dgordon
call them and ask to increase your limit.
I think it is funny that now that you know about it, and didn't know before, this thread should be eliminated. I thought flyertalk was about sharing and helping one another. If everyone else felt this, we wouldn' have a bulletin board. Let me think of all that has been shared.
TC from Chase
c2it
savings bonds
gift card at Wal Mart to use at Sam's Club
Double coupons for Healthy Choice
Oh, I'll just stop at that. Except for the savings bonds and Wal Mart which I found out or figured out on my own, I would not have benefited had it not been discussed here. I am always grateful to those who share.
__________________
Robin: "What do you think, Ben?"
Me: "There's time for thinkin' when we're dead! Let's go!"
Since you wished knowing about this earlier, I'll mention that I did this sort of thing with my AAA credit card when I was a starving grad student. (that's 3 A's for the auto club). They allowed free traveller's checks, so I used it to float cash while waiting for my stipend. You might still be able to do this, but I'm not sure.
Since you wished knowing about this earlier, I'll mention that I did this sort of thing with my AAA credit card when I was a starving grad student. (that's 3 A's for the auto club). They allowed free traveller's checks, so I used it to float cash while waiting for my stipend. You might still be able to do this, but I'm not sure.
AAA changed the terms recently; now TC purchased are processed as cash advance including AAA credit cards.
I have two questions regarding this:
1- when you get TCs, is there any processing fees in addition to the amount of TCs you want?
2- You can buy foriegn currency TCs online as well as i checked, and you can use any CC, the only problem there is processing fees and mailiing fees. I guess this was a statement.
I have purched amex gift cards at safeway for company giveaways using my amex card and have never paid attention if it was billed as cash or a purchase. Any ideas?
I have purched amex gift cards at safeway for company giveaways using my amex card and have never paid attention if it was billed as cash or a purchase. Any ideas?
It's purchase but there are fees AmEx GC purchase.
I have two questions regarding this:
1- when you get TCs, is there any processing fees in addition to the amount of TCs you want?
2- You can buy foriegn currency TCs online as well as i checked, and you can use any CC, the only problem there is processing fees and mailiing fees. I guess this was a statement.
Actually it was more of a suggestion so that it would not be overused and pulled by amex.
Quote:
Originally Posted by dgordon
call them and ask to increase your limit.
I think it is funny that now that you know about it, and didn't know before, this thread should be eliminated.
One little problem, travelers checks are treated like cash when you deposit into the bank, doing this too often, you risk tripping over some anti money laundering
reporting requirement.
your deposit has to be $10K or multiple deposits that total $10K structured to avoid the reporting requirements under the federal money laundering statute.
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
If you think you know what is going to happen with currency values over the course of time, then there are ways to bet on the future value of currencies. Putting up cash now to buy travelers checks as a "hedge" against a fall in the dollar is not a good way to go about that, however.
As for the advantages of travelers checks over a CC, the only one that occurs to me is that you may avoid a 2 or 3% foreign exchange charge by the CC issuer. But travelers checks usually entail their own costs if you are exchanging them for foreign currency, as well as the inconvenience of going into a bank or exchange office. ATMs are the best in my view, though with them you will have the lesser security of carrying around cash.
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.
If you draw your cash from an ATM, though, you are already in the local currency, hence no need to exchange currency and worry about commissions and exchange rates. (ATM transactions should get one the best exchange rates. CCs should get the best exchange rates too, but with most of them there is the bank's 2 or 3% vigorish.)
I'm not sure what that is supposed to mean, but the excerpted T&C in post #20 seem to indicate that traveler check purchases will not bring MR (or SPG?) points. Yet, others are saying that they do, and without any fees???
