Originally Posted by
msp3
Even with no rewards earning, doesn't this still effectively function as a 0% loan?
Yes. I suppose that's the perk--recipient receives their money on time and sender gets the float and admin convenience/efficiency of having charge appear on their Amex bill.
As I recall Amex is doing the same type of thing for corporate cards with vendor payments as well. Vendors get paid via ACH and expense goes on corporate Amex (with no points earned).