Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,821
You may accomplish your purpose by purchasing an American Express Traveller's Cheque Card, withdrawing currency from ATMs and using currency to buy the gift cards, but there are important caveats.
1. You cannot earn Membership Rewards points on the purchase of a TCC. I know you can earn SPG Starpoints, and I believe you could also earn Delta miles, Hilton HHonors points, JetBlue dollars.
2. It will cost you about 1% of the value to withdraw the funds from ATM. Maximum withdrawal is $400 per day, Amex will charge $2.50 and the ATM owner will charge something, say $1.50.
3. American Express monitors the activity on these cards and will simply close the account if it appears you are churning by reloading and immediately withdrawing the funds. If the amount you need is modest and you can withdraw at a leisurely pace so that American Express has the use of your money it may work ongoing, but if you fund $2,500 withdraw $400 on six consecutive days, reload as soon as permitted, and repeat you'll be done after a few cycles.
dennis