Nov 10, 2013, 11:26 am
Last edit by: mcdullhk88
Dead as of 10/13/14
FAQ's
Is Amazon Payments treated as a cash advance? No CC issuer has been reported as treating an AP transaction as a cash advance unless the sender selected "Payment is for Cash Advance" on the Send Money screen.
What does it mean when your payment is "pending"? Your payment will be reviewed. We are unsure whether this review is done by a human or computer. It should take less than 24 hours but is usually within minutes.
How should you describe your payment? "Goods or services" will allow you to charge with a CC and it will not be treated as a cash advance. Note: If you choose cash advance, it may be treated as such by your CC issuer; always choose Goods/Services. There is no reason to put anything in the optional description field - leave it blank.
What is the monthly limit for sending CC payments? $1,000 per calendar month per AP account
What is the monthly limit for receiving CC payments? $1,000 per calendar month per AP account
What if it is not allowing me to send/receive more than $500 or any at all? You probably have not verified your bank and/or added a CC. In order to get the full $1,000 allowance for sending and receiving you must have a bank verified AND a CC added to your account as a payment method.
Does AP qualify for special spending categories? Specifically it qualifies for Discover's (usually 4th quarter) category of online purchases but so far, not Chase's "5% CB on Amazon.com purchases." Refer to thread for other options.
Can you get shutdown? Yes.
How do you get shutdown? No one knows. Anecdotes are found throughout the thread. Some suspicious behavior that MIGHT get your AP account(s) shut down is listed below.
Which transaction is most advisable? A -> B -> C -> A (see here)
Are any fees charged during this process? No, not by Amazon Payments. If your transaction is treated as a cash advance by your card issuer--fees are possible. Beware and always double check that goods/services is selected!
Can you liquidate Amazon GC via AP? NO!
Can you liquidate other gift cards via AP? Yes. Note that you cannot liquidate the full value of a GC because amazon places a $1 hold while it verifies the validity of the GC. You can sometimes (not always) avoid the hold by entering an incorrect expiration date for the GC when adding it to your AP account, and after you have added it, go to "Edit my account settings," then to "Add edit or delete my credit cards" and edit the expiration date there.
When does the month end? It appears as if Amazon is on pacific time, so midnight PDT/PST is when the month resets.
It bears repeating that no one knows the methodology amazon uses to police AP transactions, determines which transactions violate its T&Cs, or identifies violators. However, various people in this thread and elsewhere have confirmed that their AP account(s) were shut down for the following reasons:
Additionally, we have updated the terms and conditions of our User Agreement (https://payments.amazon.com/help/Personal-Accounts/User-Agreement-Policies/User-Agreement) that apply to your use of the products and services provided by Amazon Payments. Our updated User Agreement revises certain terms (including, among other things, the elimination of person-to-person payments). Our new User Agreement will become effective on October 13, 2014, which is more than 30 days from when we first posted our updated User Agreement. By continuing to use our services after October 13, 2014, you are agreeing to be bound by the terms and conditions of our new User Agreement.
Is Amazon Payments treated as a cash advance? No CC issuer has been reported as treating an AP transaction as a cash advance unless the sender selected "Payment is for Cash Advance" on the Send Money screen.
What does it mean when your payment is "pending"? Your payment will be reviewed. We are unsure whether this review is done by a human or computer. It should take less than 24 hours but is usually within minutes.
How should you describe your payment? "Goods or services" will allow you to charge with a CC and it will not be treated as a cash advance. Note: If you choose cash advance, it may be treated as such by your CC issuer; always choose Goods/Services. There is no reason to put anything in the optional description field - leave it blank.
What is the monthly limit for sending CC payments? $1,000 per calendar month per AP account
What is the monthly limit for receiving CC payments? $1,000 per calendar month per AP account
What if it is not allowing me to send/receive more than $500 or any at all? You probably have not verified your bank and/or added a CC. In order to get the full $1,000 allowance for sending and receiving you must have a bank verified AND a CC added to your account as a payment method.
Does AP qualify for special spending categories? Specifically it qualifies for Discover's (usually 4th quarter) category of online purchases but so far, not Chase's "5% CB on Amazon.com purchases." Refer to thread for other options.
Can you get shutdown? Yes.
How do you get shutdown? No one knows. Anecdotes are found throughout the thread. Some suspicious behavior that MIGHT get your AP account(s) shut down is listed below.
Which transaction is most advisable? A -> B -> C -> A (see here)
Are any fees charged during this process? No, not by Amazon Payments. If your transaction is treated as a cash advance by your card issuer--fees are possible. Beware and always double check that goods/services is selected!
Can you liquidate Amazon GC via AP? NO!
Can you liquidate other gift cards via AP? Yes. Note that you cannot liquidate the full value of a GC because amazon places a $1 hold while it verifies the validity of the GC. You can sometimes (not always) avoid the hold by entering an incorrect expiration date for the GC when adding it to your AP account, and after you have added it, go to "Edit my account settings," then to "Add edit or delete my credit cards" and edit the expiration date there.
When does the month end? It appears as if Amazon is on pacific time, so midnight PDT/PST is when the month resets.
It bears repeating that no one knows the methodology amazon uses to police AP transactions, determines which transactions violate its T&Cs, or identifies violators. However, various people in this thread and elsewhere have confirmed that their AP account(s) were shut down for the following reasons:
- Associating one credit card number with more than one AP account (Be Careful if authorized user card has the same number as the primary card holder - in some instances the CC numbers are completely different)
- Associating one bank account with more than one AP account
Amazon Payments
Aug 9, 2013, 11:17 am
#2356
Join Date: Jul 2013
Posts: 209
Yep you guys are both correct. Upon further review, GF's CC had enough transactions still pending that when she tried to send $1000 it put her over her card limit so it was the CC rejecting it thankfully.
Appreciate the info guys.
Appreciate the info guys.
Aug 9, 2013, 12:25 pm
#2357
Join Date: Aug 2010
Posts: 633
Ditto.
At age 18 and 3 months my kiddo's credit score is higher than most on the board and his first cc was a points/miles cc neither secured nor cosigned. Get the kiddos on your cards as AUs early, especially with AMEX. Then be sure that they learn that with great miles earning power come the responsibility to use credit wisely.
At age 18 and 3 months my kiddo's credit score is higher than most on the board and his first cc was a points/miles cc neither secured nor cosigned. Get the kiddos on your cards as AUs early, especially with AMEX. Then be sure that they learn that with great miles earning power come the responsibility to use credit wisely.
I had some of my kids with up to 12 AU's on my/wife's Amex accounts. This caused issues for them getting their own card. Calling reconsideration they would ask, "why do you have so many accounts?". And even after I closed their AU, they were then asked on later apps, "why do you have so many closed accounts?" It can raise flags, particularly when overdone as I likely did. They were able to go through on those apps and get the card they applied for, but it likely hurt their ability to get auto approved.
My and wife's latest AOR practically received no auto acceptance. This appears likely due to us as well being added in as an AU on so many Amex accounts last year. We were also asked on recon, "why do you have so many accounts"? To which we would respond, they are as an AU, etc.
Here it is from Experian.
Found this online:
Authorized user accounts can be removed from report upon request
Dear Experian,
Is an authorized user responsible for the debt? If an authorized user is removed from the credit card, can the credit card also be removed from the credit report? I also read somewhere that credit bureaus will not take into account authorized users for credit scores. Is that true?
- CHS
Dear CHS,
An authorized user is not responsible for the debt. However, authorized user accounts will be listed on an Experian credit report as long as the account is current and positive.
Please understand that the credit reporting companies report the history, but do not have the role to “take into account” what is reported. Such decisions are up to the users of the reports.
Most users rely on one or more scoring models to help evaluate the history. Credit score developers determine whether their scoring systems will include authorized user accounts in the calculation. Some credit scoring systems include authorized user accounts in the calculation and others do not.
If you are concerned about the impact on your credit history, you should contact the creditors and ask to be removed from the account.
Unlike being a joint account holder when you share responsibility for the debt, creditors will typically remove you as an authorized user upon request because you have no responsibility for payment. Experian also will remove the account from your credit report at your request or if you are no longer reported as an authorized user.
Thanks for asking.
- The "Ask Experian" team
Aug 10, 2013, 6:16 am
#2359
Join Date: May 2012
Posts: 150
Aug 15, 2013, 12:42 am
#2364
Join Date: Mar 2012
Location: SAN
Posts: 1,396
I just want to note how absurdly fast AP's ACH transfer is. My SO sent me funds this morning and I quickly (~20 min later) transferred to my bank account. I just noticed the funds are already showing up in my bank account - this is same calendar day, a little over 12 hours! Unbelievable!
Aug 15, 2013, 8:56 am
#2366
Join Date: Aug 2012
Location: NYC
Posts: 83
I just want to note how absurdly fast AP's ACH transfer is. My SO sent me funds this morning and I quickly (~20 min later) transferred to my bank account. I just noticed the funds are already showing up in my bank account - this is same calendar day, a little over 12 hours! Unbelievable!
Aug 15, 2013, 9:01 pm
#2367
Join Date: May 2013
Posts: 1,153
I'll second this sentiment but think it's a shame that this isn't the norm across the 'traditional' banking segment. The digital payment landscape is so fragmented right now that many times, for consistency, you're required to default to legacy mechanisms (checks, MO, Wire transfers). I still think that the only reason the big banks haven't rolled out instant digital payments is because they haven't quite decided on how they're going to monetize it and pass on the fee to the customer.
Aug 15, 2013, 11:16 pm
#2368
Join Date: Mar 2012
Location: SAN
Posts: 1,396
I was able to withdraw the funds from AP to my bank in ~12 hrs. They tell you it may take 5-7 days, but my experience has been that it is much faster than that. Perhaps the bank may make a difference?
Aug 15, 2013, 11:22 pm
#2369
Join Date: May 2013
Posts: 1,153
I'm sorry I'm having a hard time understanding your post - I am assuming you mean AP - > Bank and CC->AP, respectively?
I was able to withdraw the funds from AP to my bank in ~12 hrs. They tell you it may take 5-7 days, but my experience has been that it is much faster than that. Perhaps the bank may make a difference?
I was able to withdraw the funds from AP to my bank in ~12 hrs. They tell you it may take 5-7 days, but my experience has been that it is much faster than that. Perhaps the bank may make a difference?
Aug 15, 2013, 11:25 pm
#2370
Join Date: Aug 2011
Location: SFO/SJC
Programs: MR,UR, UA, BA, AA, Hotels
Posts: 581
I'm originally from the EU and frankly banking in the US is antiquated. Not often you can say the US is so far behind. Electronic transfer are mandated to be instant. In the US they are instant but banks sit on the transfers and cash out having the cash on their balance sheets for the interim because the government does't regulate that this is unacceptable.