Posted:
#1
I just posted this in the general discussion forum but thought this forum would be a good source for ideas.....
I need suggestions. As some of you know, I am developing a 50 lot subdivision and am on the verge of spending about $600,000 on our infrastructure. I had an idea this morning but am running into some obstacles.
I have a platinum AMEX. I get a point per $1 spent. 600,000 points would keep me flying free for a long, long time. My main infrastructure contractor is who will receive the bulk of the $600k but he does not accept credit cards. I talked to AMEX today and while I have no pre-set spending limit, it's not a credit card; rather it's a charge card as I pay the balance in full each month so there are no cash advances allowed or courtesy checks.
The guy at AMEX was great today and he told me there was a way to do it. He said I could run the payments through PayPal via my AMEX, then my contractor could withdraw on his end.....and I would earn the points. He said I might have to pre-fund my PayPal account the first time with cash (no problem as I would just do a draw of our construction loan) but subsequent payments could come directly off the AMEX and into PayPal.
One problem. A payment of $100,000+ would cost about 2.1% for my contractor to withdraw. So the $2,100 per $100,000 defeats the purpose.
ANY ideas????? Any other electronic payment sites?????
It makes me sick at my stomach to think I am going to WASTE 600,000 fucking points.
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