Originally Posted by
a_student_flyer
I don't really don't make many purchases (being a student) but have a merchant where I'll be able to make purchases on my card (for cash) daily, so I hope to rack up miles that way through SPG.
Originally Posted by
a_student_flyer
What would be suspicious? I'd probably only do 2k-4k a week (1k a day).
and @ TTBHG, it's how people always get money off their cards at the store, so it wouldn't be out of the ordinary for them and I already ok'd it with the manager. So I hope it works out
(emphasis mine)
I don't know what kind of "business" that store is all about (hopefully not the quick-loan type) and how legit the business is, three red flags just flash in my mind:
1. Are those "purchases" going to be coded as "cash advance" type of transactions?
If so, you are going to pay a heck of high interest compounded on a daily basis from the day of the purchases. Are you prepared for that?
2. For a student who charges $1K per day in the same store day after day and week after week, s/he should be able to demonstrate a steady stream of income to "convince" the cc companies to approve high enough credit limit (in your scenario, $16K CL minimum) on say credit card/s.
Are you able to?
3. For a merchant who sells to the same customer with >$1k items on a daily basis, day after day & week after week, they must run a "pretty good-priced" business that Amex (or MC/Visa/Discover/Diner) maintains a merchant contract with them.
Does it fit with said store?
If these three little red flags are not suspicious enough, well then, good luck!