Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Dec 10, 2009, 6:30 pm
#6736
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,047
Citi and Citibusiness set mine to zero and confirmed it in writing. Chase insists that it cannot be less than 20% of my credit limit. US Bank said my account has no cash advance feature. I prefer it set to zero. This way if I buy coins or fund a Citi account it can never be processed as a cash advance.
1) Since the only reason this would be in the MilesBuzz! forum is that is has to do with the coins, I am moving it to that thread.
2) Your coin transaction *CAN NOT* be treated as a cash advance. To do a cash advance, you would need to use your PIN.
3) Nobody ever said that the coins would be treated as a cash advance (since that would be impossible). Please re-read this thread, and comments.
Dec 10, 2009, 6:33 pm
#6737
Join Date: May 2002
Location: St Louis, MO
Programs: AA L.T. PLT
Posts: 3,281
Hi guys, Just logged on to US Mint site, where they have the following caveat posted when you click on any of the Presidential dollar direct-ship coins:
"The purchase of $1 coins under the Circulating $1 Coin Direct Ship Program is a cash equivalent or cash-like transaction. Ordinarily, such purchases are not eligible for credit card rewards, cash-back, cash rebate, and similar programs. Check with your card issuer for its terms and conditions."
So I called Amex (Delta Skymiles) and they confirmed this transaction would be like a cash advance so no mileage or purchase credit.
But you guys in this forum seem to have been doing this with such success, even as recently as this morning, so I was wondering whether this caveat on the US Mint site is new. Has anyone else seen that before? Or do they just post that to scare people off and it's really fine??
"The purchase of $1 coins under the Circulating $1 Coin Direct Ship Program is a cash equivalent or cash-like transaction. Ordinarily, such purchases are not eligible for credit card rewards, cash-back, cash rebate, and similar programs. Check with your card issuer for its terms and conditions."
So I called Amex (Delta Skymiles) and they confirmed this transaction would be like a cash advance so no mileage or purchase credit.
But you guys in this forum seem to have been doing this with such success, even as recently as this morning, so I was wondering whether this caveat on the US Mint site is new. Has anyone else seen that before? Or do they just post that to scare people off and it's really fine??
It has yet to be determined if they have a way to tell the difference (and noting as such on your credit card) between direct shipment coin purchases and actual "collector" coin purchases.
And what if you place an order for both types at the same time? Then what?
This will all sort it self out at after the 1st of the year.
Dec 10, 2009, 6:34 pm
#6738
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,047
I did read every word of the sticky faq and all the recent thread posts before posting, in fact. No one mentioned the US Mint website specifically pointing out that no mileage credit would be given. The sticky faq also said that the coins were sold out, but they are now available again (backordered to 12/25). So it's clearly not up to date. Therefore, it's not that unreasonable to ask whether the caveat on the US Mint website is brand new, that something may have changed since sticky was posted. All I wanted to know was whether people had seen that caveat on the US Mint site before and got the cc credit anyway, a question which has not yet (that I could see) been specifically asked before in this forum, and to which I would still like just a yes or no answer please, thanks!
Dec 10, 2009, 6:41 pm
#6739
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,047
I have updated the FAQ regarding cash advance/cash equivalent!
Dec 10, 2009, 6:52 pm
#6740
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
Funding a bank account with a CC and not to have the funding mistakenly treated as cash advance.
Dec 10, 2009, 7:02 pm
#6741
Join Date: Jul 2009
Posts: 344
Sorry, I should have been more clear. I don't want the mint to send the coins to USAA, I was thinking about how to deposit them in order to pay the Chase card b/c previous posts have stated that some banks won't take the coins as deposit, but will for payment of a credit card. All our Credit cards are USAA, except for a Bank of America card. No BoA branches here either.
I'm asking for a branch that we can deposit the coins in order to pay the BA/Chase Credit card. If I could have sent the coins to USAA for deposit, then I could pay the BA/Chase card online with the coin deposit.
I guess we could open a bank account locally, but then how would that allow us to pay the Chase card at their branch if it's not a Chase bank?
Am I missing something?
I'm asking for a branch that we can deposit the coins in order to pay the BA/Chase Credit card. If I could have sent the coins to USAA for deposit, then I could pay the BA/Chase card online with the coin deposit.
I guess we could open a bank account locally, but then how would that allow us to pay the Chase card at their branch if it's not a Chase bank?
Am I missing something?
Dec 10, 2009, 7:09 pm
#6742
Join Date: Oct 2002
Programs: Marriott Plat Premier/LT Plat; SPG Plat/LT Gold; Hilton Gold; Hyatt Plat
Posts: 2,356
Man, this is getting frustrating.
1) Since the only reason this would be in the MilesBuzz! forum is that is has to do with the coins, I am moving it to that thread.
2) Your coin transaction *CAN NOT* be treated as a cash advance. To do a cash advance, you would need to use your PIN.
3) Nobody ever said that the coins would be treated as a cash advance (since that would be impossible). Please re-read this thread, and comments.
1) Since the only reason this would be in the MilesBuzz! forum is that is has to do with the coins, I am moving it to that thread.
2) Your coin transaction *CAN NOT* be treated as a cash advance. To do a cash advance, you would need to use your PIN.
3) Nobody ever said that the coins would be treated as a cash advance (since that would be impossible). Please re-read this thread, and comments.
Dec 10, 2009, 7:09 pm
#6743
Join Date: Jan 2006
Location: NYC
Programs: DL PM, TSA Disparager Gold
Posts: 1,431
This was at their headquarters branch, so YMMV.
Dec 10, 2009, 7:16 pm
#6744
Join Date: Feb 2006
Location: ORF
Programs: UA Silver, MR titanium
Posts: 2,020
this is true, i funded an online account recently and i used a chase credit card and it came through as cash advance with the fees and i didnt provide a pin
Dec 10, 2009, 7:28 pm
#6745
Join Date: May 2004
Posts: 375
Although, in my frozen tundra MN suburb, they may look at us like we're from Mars if we handed a roll of dollar coins.
One other thing. ... if I order coins now, I presume they are billed to the cc when they are sent, not ordered. I'm trying to get the BA points.
Dec 10, 2009, 7:30 pm
#6746
Join Date: May 2004
Posts: 375
fs2 - thanks for that info. I think I will go to a couple USB's and see what they say. I don't care if I have to unroll them. I just want them to be accepted.
What do banks do when little kids come in with their piggy banks? Don't they do that anymore?
What do banks do when little kids come in with their piggy banks? Don't they do that anymore?
Dec 10, 2009, 7:53 pm
#6747
Join Date: Dec 2000
Location: San Diego, CA , 4.2MM+ AA Platinum, Hilton Diamond, Starwood Gold
Posts: 574
$1,000 in presidents received today. Charged to Starwood Amex. Posted as a regular purchase. Part of a larger order placed in October. Balance is still on BO.
Dec 10, 2009, 8:04 pm
#6748
Join Date: Feb 2009
Location: SEA
Programs: Alaska MVPG 100K, IHG Ambassador, Hilton Diamond, Hyatt Globalist, Marriott Titanium
Posts: 1,704
Is there some pressing reason why you want to do this? The only thing I could think of would be that you have issued additional cards to other people whom you do not fully trust. As jkoenig51 suggests, if you never use a PIN with your CCs, the chances of a thief being able to extract a cash advance from your card is pretty slim.
Am I missing something?EDIT: saw this being brought up by other posters.... looks like I am not the only one being confused.
Dec 10, 2009, 8:07 pm
#6749
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
I am confused.... When people on the other thread fund checking/savings accounts with CCs, I ASSUME they never use a PIN and never physically preset themselves at a branch (some stated they authorized the transaction over the phone), but it still goes through as a cash advance Am I missing something?
Am I missing something?There are already several posts pointing out this OBVIOUS ERROR.
Dec 10, 2009, 8:18 pm
#6750
Join Date: Jun 2004
Location: Midwest
Programs: AA Advantage Platinum, United 1K, Marriott Rewards Platinum, Hilton Honors Diamond
Posts: 395
I am confused.... When people on the other thread fund checking/savings accounts with CCs, I ASSUME they never use a PIN and never physically preset themselves at a branch (some stated they authorized the transaction over the phone), but it still goes through as a cash advance Am I missing something?
Am I missing something?Just fund for whatever you want they can not check your cash advance limits.
Cheers!