Gosh, you would do that for me? What a guy! From: That One Guy /sarcasm Sent: Wednesday, July 06, 2016 3:51 PM To: [email protected] Subject: Re: [AFMUG] Credit card irregularities.
If you send me the card numbers and the three code off the back of the card I can go ahead and check to see how the transaction will turn out, but im pretty sure it will come back over limit when you try to run it On Wed, Jul 6, 2016 at 3:29 PM, Travis Johnson <[email protected]> wrote: You may have a hard time getting a "small business" card that provides 2% cashback for that high of a limit. These are designed for businesses that spend less than $50k/month on a credit card. That is the one good thing about AMEX, once you have built a reputation with them, there really is no limit on their card. Travis On 7/6/2016 1:46 PM, Gino Villarini wrote: 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 <[email protected]> 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) Sent: Wednesday, July 06, 2016 1:30 PM To: af 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" <[email protected]> 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 <[email protected]> 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 Sent: Wednesday, July 06, 2016 12:07 PM To: [email protected] 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 to obtain cash and purchasing power they do not have, or pay credit card balances with the proceeds of other cards. Unlike 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] Eq seq reference infers paying credit card minimum balances with credit card proceeds is 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 530-748-9608 Cell www.remotelylocated.com On Wed, Jul 6, 2016 at 11:01 AM, Cameron Crum <[email protected]> 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 <[email protected]> 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 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 On Wed, Jul 6, 2016 at 1:53 PM, Chuck McCown <[email protected]> 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 Sent: Wednesday, July 06, 2016 11:50 AM To: [email protected] 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 <[email protected]> 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? -- If you only see yourself as part of the team but you don't see your team as part of yourself you have already failed as part of the team.
