Question
In a newsletter sent to subscriber of webflyer, there is the following:
[E Y E S P Y]
Order your next batch of travelers' checks from Chase Manhattan Bank's
www.currencytogo.com (http://www.currencytogo.com) and charge the purchase to any charge card except
American Express. No commission is charged, as long as the transaction is
completed online. The transaction records as a purchase and therefore the
credit card charges no fees associated with cash advances
I verifyed with Chase. Here goes the answer:
Thank you for your email to Chase. When you purchase travelers checks
with your credit card the financial institution submits these charges to
us in cash. The cash fees and finance charges will apply.
Who is right?
Answer
You will be charged for a purchase, not a cash advance. Trust us!
Answer
To say that I'm a bit shocked that this was actually selected as an "EYESPY" tip would be a tremendous euphemism! http://www.flyertalk.com/forum/smile.gif
But hey, what do I know, I'm no SPY! http://www.flyertalk.com/forum/wink.gif
Answer
Originally posted by chix:
You will be charged for a purchase, not a cash advance. Trust us!
Warning to Marriott Rewards Visa card holders (and perhaps others). While Citibank and, I assume, most other banks consider this type of transaction a "purchase", a friend of mine who has a Marriott Rewards Visa told me that it posted to her account as a cash transaction when she looked it up online.
A similar thing happened a while back when she used this same card for a C2it transaction (back when you could do these for free) and while it posted as a purchase, she did not get any Marriott Rewards points for these dollars "spent." She was told by phone that this type of transaction did not qualify for Marriott Rewards points. She went ahead and tried the Chase deal just for the heck of it and saw that it had posted as a "cash" transaction on the credit card website. Therefore, she assumes that at best she will not get the points and at worst she may get a cash advance fee as well as not getting points (she had a credit balance on the card so at least there will be no accrued interest). She hasn't received her statement yet.
[This message has been edited by MileageSeeker (edited 08-12-2001).]
Answer
i ordered tcs thru chase early July. Posted to my citibank AAdvantage MC as a purchase. hope this helps. What does ( EyeSpy ) mean? it is reported to anyone??
Answer
MBNA changed it's policy recently. All money transfers now post as cash advances. (A little off-topic: Receipt of money, i.e. from c2it, will not count towards minimum payment.)
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He who dies with the most miles ... is dead.
Answer
the best way to make sure it will NOT go thru as a cash advance is call up your card issuer and ask that they remove any cash advance level that has been assigned to you.The only prob is you wont be able to withdraw any $$ at any ATM, thusly if the transaction by your bank will be handled as a cash advance it will be declined since you will have a '0' balance avaible for cash advances.
Answer
Ordered Chase checks today with MC (Hawaiian/WellsFargo). Will let you all know how the charge is posted.
If I get busy and forget, send me an e-mail to jog the old grey-matter.
Answer
OK...it posted as purchase so should earn miles!!
Answer
Looks like this loophole has just closed as of 11/23/2001. Oh well, it was a good one while it lasted!
Mac
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¡Viaja con Dios!