Originally Posted by mhp
From reading the fine print, it seems you could use this card to generate approx 12,000 miles / month (if you wanted to do this every day). Even so you could easily get the 5,000 miles / month that CO used to generate.
$5 load fee to load up to $2750. $2.50 ATM withdrawal fee for max $400 / day.
So if you took out the max $400 / day (deposited it and paid off the card you used to load it, just like CO), in one week you could get 2400 miles and it would cost you $20 ($15 in ATM fees, plus $5 load fee).
$20/ 2400 = $0.008 per mile. Less than one cent per mile.
Anyone see a problem with this?
I seem to remember reading somewhere that the only way you can load up the amex travel card is with your credit card, and that it is not treated as a purchase, but rather, a cash advance. At your typical cash advance rate (and interest) that seems pretty expensive. I could be wrong here, but when i read that I thought 'who in their right mind would ever get this product'? Then, of course, they have the companion ticket offer.