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We recently wrote about Amazon Payments and the Ability to Send and Receive Money with a credit card. Currently with Amazon Payments, users can send and receive up to $1,000 each calendar month using a credit card without being charged any fees, creating the opportunity to earn credit card points for expenses that might otherwise be paid in cash or by check, like a house cleaner, piano lessons, loans between friends, etc. Money received can then be withdrawn to a linked bank account (again with no fees), meaning it doesn’t cost either party anything.
Well, I just received the following email from Amazon which states that this option will be ending on October 13, 2014.
“Additionally, we have updated the terms and conditions of our User Agreement (https://payments.amazon.com/
I’m disappointed that this feature is being taken away, since it allowed me to put an extra $12,000 per year on my credit cards for things that I paid for anyway, making it much easier to meet minimum spend requirements for new cards. However there are still other ways to use credit cards for expenses that you might typically pay with a check or cash. For suggestions, check out Flyertalk’s forum devoted to the subject.
How will this latest change to Amazon Payments affect your spending habits?
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- See Rates & Fees