Anyone Churned Credit Cards Using Crypto Exchanges? Specifically Looking at The Kogan Card

SenatorJuug on 02/11/2021 - 20:08

dodgy yes not the point tho. So for example Kogan has an offer for $400 if you spend $1500 on eligible purchases. Rules are as follows:

"Eligible purchases excludes Cash Advances, Balance Transfers, Special Promotions (for example, transfers to other accounts with a Fixed Payment Option), refunds and chargebacks, purchases of foreign currency and travellers cheques, transactions made in operating a business, payments to other Citi Accounts, bank fees and charges such as interest and ATM charges, and transactions made using Rewards Points. "

Using a crypto exchange you can purchase AUD which is not a foreign currency last I checked. But I have a good feeling they'll be salty about it. Thoughts?

Financial

Comments

  • Jimothy Wongingtons on 02/11/2021 - 20:22
    +2

    Can’t wait for your outrage post at kogan denying benefit for your aud (???) purchase.

  • loulou1 on 02/11/2021 - 20:29

    Is it treated as a cash advance though?

  • randomusername2017 on 02/11/2021 - 20:39
    +1

    Depends on the merchant category code and how kogan/citibank handles the transaction, run the risk of cash advance fees and non qualifying spend.

    Try it out and report back :)

    • SenatorJuug on 02/11/2021 - 20:57

      Yeah I guess that's the only way to find out. Might purchase an actual crypto to be sure as that's not foreign currency. Just realised there's a $100 gift on first eligible purchase, I'll use that to test the waters. Will report back

    • SenatorJuug on 02/11/2021 - 21:59
      +1

      never mind just found their extended ToS no crypto transactions allowed :(

  • Switchblade88 on 02/11/2021 - 21:39
    +1

    Some (most?) bank statements will tell you the retailer code in the details of your transaction statement.

    So you can test the waters with an initial purchase and see what it comes up as. I'm curious to know as well

    • SenatorJuug on 02/11/2021 - 21:43

      Thanks, will let you know, still need to apply for the card and get approved

  • randomusername2017 on 02/11/2021 - 22:17

    Wonder if a zip single use card would work, then pay off your zip account with the CC.

  • yk300 on 02/11/2021 - 22:31

    Which exchange allows you to buy AUD? Do you mean top up the account?

    Anyway, it is likely to be treated as a cash advance and some may even charge you a fee for using a credit card.

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