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From reading this thread, I think some fall under the:
5) Don't have enough SS #s for all my accounts camp
Originally Posted by $1500forGLD
(Post 18585985)
1) Not wanting our activities transactions reported to the IRS
2) Not wanting to deal with some tax bill from the IRS for "selling" ourselves 10s of Ks of "goods and services" 3) Concerns about identity theft 4) Distrust of big brother / big government |
Originally Posted by josephstern
(Post 18586234)
I think we've got two groups of people in this thread.
One group has two accounts, likely one for each spouse, and plays the $1000 back-and-forth each month, so a cycle of $2k/month. The other group has a mini-network of accounts and gets a lot more out of this situation, but, of course, runs a higher risk. The first group has no problem with SSNs or tax reporting, since they can't hit it if they want to (max of $12K per SSN per year). |
So which is the best credit card to use to get points? Chase had a 5x on Amazon.com purchases until March 31st, unfortunately that is over.
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Well, AP could be a direct competitor for Paypal. With a large footprint of the Amazon customer base, they may be intending to leverage that.
I have a friend across the country to whom I sold something yesterday, and he owes me $128. We both have Paypal, but we had some confusion over fees, so he decided to send me a check instead. If we both had Amazon, I'd have been quite keen to have him pay me that way. It would have had nothing to do with credit cards or points. But I'm sure fees will creep in, it's just a question of how high, and pervasive, and transparent they will be. Paypal would be simpler if they just said "If the funds don't come from a credit card, no fees." But it's vastly more complex than that. If you want to take even one CC transaction you have to have a Premier (or Business) account and then pay fees on ALL receipts. Paypal's foreign exchange fees are also exorbinant. |
Originally Posted by zoonil
(Post 18586922)
So which is the best credit card to use to get points? Chase had a 5x on Amazon.com purchases until March 31st, unfortunately that is over.
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Originally Posted by josephstern
(Post 18587135)
Interesting - hadn't thought of that angle. Are you sure AP qualified as Amazon.com for that purpose? I'm pretty sure the charges look different.
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Originally Posted by zoonil
(Post 18587149)
I am sure AP comes out as regular Amazon purchase - no?
AMAZON.COM AMZN.COM/BILL WA JOSEPH STERN 599.00 XXXXX MERCHANDISE MERCHANDISE Doing Business As: AMAZON.COM LLC Merchant Address: 1516 2ND AVE SEATTLE WA 98101-1543 UNITED STATES Reference Number: YYYYYY AMAZON PAYMENTS 866-749-7545 WA JOSEPH STERN 420.20 XXXXXXX SERVICE SERVICE Doing Business As: AMAZON PAYMENTS Merchant Address: 705 5TH AVE S STE 220 SEATTLE WA 98104-4425 UNITED STATES Reference Number: YYYYYYY |
Originally Posted by josephstern
(Post 18586234)
I think we've got two groups of people in this thread.
One group has two accounts, likely one for each spouse, and plays the $1000 back-and-forth each month, so a cycle of $2k/month. The other group has a mini-network of accounts and gets a lot more out of this situation, but, of course, runs a higher risk. The first group has no problem with SSNs or tax reporting, since they can't hit it if they want to (max of $12K per SSN per year). |
Originally Posted by $1500forGLD
(Post 18587240)
I think the first group is more risky than the second, in some ways. A-->B-->A seems like a red-flag trigger, whereas a complex network seems much less easier to red-flag.
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Can the same credit card be used on different AP accounts under different names?
Meaning.. can I link my credit card to my girlfriends account to send me money? I already have it linked to my account to send her money.. |
Originally Posted by junglesmacks
(Post 18587396)
Can the same credit card be used on different AP accounts under different names?
Meaning.. can I link my credit card to my girlfriends account to send me money? I already have it linked to my account to send her money.. |
Originally Posted by josephstern
(Post 18587183)
They're definitely different. The big question is, did the second qualify with Chase for the 5x. Did anyone try it? Hopefully it'll come around again.
The best card is 1) the card that you need to get to a minimum spend with, or 2) any card with an "every purchase" bonus, such as United Club, or some cards with activity/retention offers in effect. |
Originally Posted by iluvthsgam
(Post 18587413)
that will most likely raise a red flag- use different cards on different accounts.
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Originally Posted by iluvthsgam
(Post 18587413)
that will most likely raise a red flag- use different cards on different accounts.
Unfortunately, I only have one mileage bearing card.. a Citi AA.. and the girl has none and can't qualify for any. I don't count the SunTrust Skypesos card. That's for quick signup bonuses only.. Virtual account number created for linking to her account. Fingers crossed.. Also, not to be redundant.. but the limits are $1000 either direction, right? Meaning.. I can sent $1000 and I can receive $1000 per month, right? |
Originally Posted by junglesmacks
(Post 18587499)
Unfortunately, I only have one mileage bearing card.. a Citi AA.. and the girl has none and can't qualify for any.
I don't count the SunTrust Skypesos card. That's for quick signup bonuses only.. Virtual account number created for linking to her account. Fingers crossed.. Also, not to be redundant.. but the limits are $1000 either direction, right? Meaning.. I can sent $1000 and I can receive $1000 per month, right? edit: and as far as I know, VANs with Citi Cards are one-time use. That could be quite a pain, plus look fishy if you're using a different CC every time. |
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