good lord! in need to apply for that 2% cash back! we are pumping over
$100k per month to our corp amex
On Wed, Jul 6, 2016 at 3:31 PM, Chuck McCown <ch...@wbmfg.com
<mailto:ch...@wbmfg.com>> wrote:
I like miles because I can’t spend them. Dollars back I would
spend and then when I need to go to the UK to visit my daughter I
have to cough up the dough.
*From:* Forrest Christian (List Account)
<mailto:li...@packetflux.com>
*Sent:* Wednesday, July 06, 2016 1:30 PM
*To:* af <mailto:af@afmug.com>
*Subject:* Re: [AFMUG] Credit card irregularities.
The Citi double cash is 2%. I used to use it as my everyday spend
card.
I am having really good luck with chase ultimate rewards earning
cards, and also spg earning cards. With the combination of the
chase sapphire, freedom, and freedom unlimited cards for personal
and chase ink, I get anywhere between 3% and 10% back in travel
rewards (mostly hotels and an occasional flight). But this only
works if you travel enough that you can redeem for values over 2
cents per point.
With the chase freedom and discover they have revolving bonus
categories which are 5x points (10% effectively). We try to buy
gift cards to maximize this.. for instance, we're currently
watching movies using theatre gift cards from the last time the
rewards category was movie theatres.
Back to the question about whether it makes sense to run cards
through your own merchant account... maybe if you're trying to
meet a minimum spend, or need a few miles to make a reward work,
but I sure can't see this making sense on a regular basis.
On Jul 6, 2016 12:37 PM, "Josh Luthman"
<j...@imaginenetworksllc.com <mailto:j...@imaginenetworksllc.com>>
wrote:
What's the 2% personal card if I can ask?
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 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?
