The personal card is the Citi Mastercard. The business card is the
CapitalOne Spark Business card.
Travis
On 7/6/2016 12:37 PM, Josh Luthman wrote:
What's the 2% personal card if I can ask?
Josh Luthman
Office: 937-552-2340
Direct: 937-552-2343
1100 Wayne St
Suite 1337
Troy, OH 45373
On Wed, Jul 6, 2016 at 2:35 PM, Travis Johnson <t...@ida.net
<mailto:t...@ida.net>> wrote:
Does the 3% credit card processing fee ($300 on $10k) justify the
miles you will gain? How much is it to just "buy" the same amount
of miles?
Inquiring minds want to know. I use a 2% cashback on everything
card for ALL my personal expenses (groceries, gas, utility bills,
cell phone bill, food, car expenses, etc), and a different
business card (also 2% cashback on every single item) for all my
business stuff. Then I just get checks mailed to me about once a
month for the rewards. The miles game always seemed like a lot of
work to track everything, etc.
Travis
On 7/6/2016 12:08 PM, Chuck McCown wrote:
S Corp
*From:* Jason Wilson <mailto:ja...@remotelylocated.com>
*Sent:* Wednesday, July 06, 2016 12:07 PM
*To:* af@afmug.com <mailto:af@afmug.com>
*Subject:* Re: [AFMUG] Credit card irregularities.
Sole Proprietor? LLC or Corp? If you are a structured org
(llc,Corp) and you have an invoice for said items then you should
be ok.
*Credit card kiting* refers to the use of one or more credit
cards <https://en.wikipedia.org/wiki/Credit_card> to obtain cash
and purchasing power they do not have, or pay credit card
<https://en.wikipedia.org/wiki/Credit_card> balances with the
proceeds of other cards. Unlike check kiting
<https://en.wikipedia.org/wiki/Check_kiting>, which is illegal
under nearly all circumstances, laws against credit card kiting
are not completely prohibitive of the practice, thereby allowing
it to be done to some degree. It is up to the banks to detect the
practice and when necessary, stop it.
In order for prosecution to occur in a credit card kiting scheme,
a bank must prove intent to deceive.^[1]
<https://en.wikipedia.org/wiki/Credit_card_kiting#cite_note-1> Eq
seq reference infers paying credit card minimum balances with
credit card <https://en.wikipedia.org/wiki/Credit_card> proceeds
is de facto <https://en.wikipedia.org/wiki/De_facto> evidence of
deceit.
It all will depend on your CC Processor.
Jason Wilson
Remotely Located
Providing High Speed Internet to out of the way places.
530-651-1736 <tel:530-651-1736>
530-748-9608 <tel:530-748-9608> Cell
www.remotelylocated.com <http://www.remotelylocated.com>
On Wed, Jul 6, 2016 at 11:01 AM, Cameron Crum <cc...@wispmon.com
<mailto:cc...@wispmon.com>> wrote:
I didn't think about the miles thing. I just didn't think
they would care as they are still getting paid and you'll be
out about 3% of the charge. The biggest charge I've run
through my own cars was about $300. I know square used to
hold funds over $1000 for some period...like 7 days or so?
Maybe that is too long, but I seem to remember something like
that.
On Wed, Jul 6, 2016 at 12:55 PM, Josh Luthman
<j...@imaginenetworksllc.com
<mailto:j...@imaginenetworksllc.com>> wrote:
From what came up a while ago you can do that no problem
after contacting the merchant but IPPay doesn't allow
those shenanigans.
Josh Luthman
Office: 937-552-2340 <tel:937-552-2340>
Direct: 937-552-2343 <tel:937-552-2343>
1100 Wayne St
Suite 1337
Troy, OH 45373
On Wed, Jul 6, 2016 at 1:53 PM, Chuck McCown
<ch...@wbmfg.com <mailto:ch...@wbmfg.com>> wrote:
I am thinking of doing this for about $10K and really
don’t want to get money or systems locked up.
I can also run it through my ecommerce site and I
have a quick books merchant account too.
*From:* Cameron Crum <mailto:cc...@wispmon.com>
*Sent:* Wednesday, July 06, 2016 11:50 AM
*To:* af@afmug.com <mailto:af@afmug.com>
*Subject:* Re: [AFMUG] Credit card irregularities.
I've run my own card on my own account before a
couple of times for testing and for paying myself for
something as well. I'm not sure they really care, but
I haven't read the AUP in like 4 years.
Cameron
On Wed, Jul 6, 2016 at 12:40 PM, Chuck McCown
<ch...@wbmfg.com <mailto:ch...@wbmfg.com>> wrote:
This has been covered here before. I am
considering buying something from my own
company. Have Jenny run my personal card on her
company square reader.
Not sure if that violates any kind of AUP. Hate
to get her merchant account shut down. It is a
woman owned business with her owning more than
half. I don’t technically work there. I am not
on the payroll.
How risky is this?
