Question
so i know many people will ask why i would want to do this or mention the hefty fees that are will be attached to such a strategy, but i was wondering just yes or no...do balance transfers count towards you spending amounts?
for example...lets say i had two credit cards and to be upgraded to the next level or to recieve more benefits i needed to spend at least $50,000 annually on each card, could i spend $50,000 on one card making actual purchases throughout the year and then do a balance transfer to another card each month thus giving me the annual spending total of $50,000 on each card?? (appearing to have spent $100,000 but really only spending $50,000)
Answer
what cards are you talking about?
- IIRC amex charge cards dont allow balance transfers
- with ML+ i dont think this would work, because its BENEFITS are based on spend
- and with saks WEMC, you have to spend AT saks to get benefits.
Answer
making a purchase on MC AAdvantage card to get the miles, doing a balance transfer to a BofA visa signature so that i could get the AA miles but get my visa signature spending up during the year to reach a 50k level for their new preferred tier...or eventually if i was to work towards a centurion spending on the amex plat and balance transferring to the BofA visa sig in order to get the spending levels on both cards up...really just wondering for curiousity
Answer
there is no word on who will have new level of visa is there?