<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by greentea:
Fine...but
when I inquired about mileage accrual, I WAS GIVEN A SHOCK.
The CSR told me that these purchses are considered "cash advances", will be charged 3.5% transaction fee, will not earn miles, and will start interest from the day charged. when i asked for a supervisor, ALL WERE BUSY. She was pretty confident about her answer, so I did not argue.
Someone please tell me she is wrong!!!
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I'll tell you too, that she is wrong. I've bought them before in smaller demoninations (I and EE bonds) but only recently in larger demoninations to earn frequent flyer miles. It's a purchase, not a cash advance. A cash advance is going to a bank and getting cash from a credit card, sticking it in an ATM and getting cash, or using a service such as Western Union's cash transfer service. All these transactions have the word "cash." Buying savings bonds is a purchase. Either for yourself, or as a gift (I have purchased bonds as gifts too). They're not cash, but an IOU from the Federal Government. You can't get cash them in for a minimum of six-months, anyway, so U.S. Savings Bonds don't even fall under the category of "cash."
Also, Series EE Bonds are now also called "Patriot Bonds." How patriotic would it be for a bank to charge you a cash advance fee, a higher interest rate, plus interest starting from the day of purchase until the day you pay it off, for you being patriotic for purchasing these things?