[quote=“TripleB, post:121, topic:649”]
Do you ever worry what you will say if AMEX calls you and asks why you’re spending $56k a month on groceries? Worst they could do is close your cards, I guess.[/quote]
There hasn’t been much reason in the past to worry about this. There are other worries, however:
-Amex’s RAT team is growing increasingly aggressive. See Is American Express Cracking Down On Giftcard/Simon Malls Purchases For Minimum Spend Requirements/Authorized User Bonuses? - Doctor Of Credit and the associated links.
-These cards are increasingly being used only by the hard-core churners. They haven’t even been advertised by Amex for years. This makes it more likely that they would eventually attract Amex’s attention, IMO. It also means that once they do, picking off gamers would be easy pickings. Moreover,
-Amex is adding new language as of Nov 1 which they claim will give them broad powers to claw back rewards from “gaming” as well as other forms of abuse. See New Amex T&C: "Gaming" grounds for freezing, taking your MR points - #25 by DaveHanson . Super easy for them to bust GC-looking GGD buys down to 1% IMO, if not worse.
Maybe nothing will ever happen, of course. But is the juice here, limited as it is by the $50k caps, worth the possible squeeze? Not for me.