Update July 22, 2011. This program is no longer valid
If you recall from my Credit Card Hacks for Weddings post, I discussed all the different ways to maximize points and cashback rewards when paying all those wedding-related expenses. Well, one thing weighed on my mind. A lot of vendors, including pricey photographers and videographers, don’t accept credit cards. Or, in some cases, like we’ve found with DJs, the DJ will take a credit card, but actually offers a discount if you pay by cash or check.
My thought was to take one of those 0% balance transfer offer checks that I get in the mail all the time, make the check out to myself, and then use that as a cash fund for vendors that don’t accept credit cards. I could pay the vendors in cash, but still manage to rack up points and cash back rewards. But, most of those checks charged a one-time, 3% fee. And while I would probably make that back in terms of points/miles/cash back earned, I was afraid I wouldn’t.
Well, then while on the Flyer Talk and FatWallet forums, I learned that you can purchase $1 Presidential coins online directly from the Mint. There are no shipping charges, no fees, and you can pay by credit card to purchase them (and no, it doesn’t count as a cash advance).
You can order $250 worth of coins every 10 days. So, there may be another way to get cash from your credit cards to pay your vendors (and still earn points!) afterall! Of course, you could deposit the dollar coins right away, but I should point out that the Mint says right on their website that that is not the intended use of the program. They are trying to get dollar coins in circulation, not just have folks deposit them at the bank.
Just to let everyone know, The British Airways Chase card if having a bonus. Apply for a new card by May 6. Earn 50,000 miles after your first purchase, and then an additional 50,000 miles if you spend $2500 on the card the first three months. $2500 in three months when planning a wedding? Easy peasy. That comes to 100,000 British Airways miles for not a whole lot of work. 100,000 miles will get you two roundtrip Transatlantic tickets!
I signed up for this last week, so I can’t wait to get my new card and to get my miles!