[Terms Reversed] American Express Expands Cash Advance Definition Again (Precious Metal Coins & Bullion)

Update 10/4/21: American Express is now reversing this decision effective October 1, 2021. We’ve updated our post on Best Cards for U.S. Mint Coin Purchases. Hat tip to Travel With Grant

Original Post:

American Express recently expanded the definition for what codes as a cash advance to include digital currency and digital precious metals products starting November 1, 2020. The definition will be further updated starting January 15, 2021 to include precious metal coins and bullion:

Effective January 15, 2021, we are updating this sub-section to add precious metal coins and bullion to the definition of Cash Advance in your Cardmember Agreement.

I guess that means no more mint deals to help meet minimum spend requirements.

Hat tip to kiwi0panda
    William Charles
  • On October 4, 2021, 10:30
Tags: american express

View Comments (60)

  • I had two purchases post from the Mint:
    One on 9/29 - no rewards
    One on 10/4 - rewards posted.

    Exact same charge amount

  • "Effective April 15, 2022, we are updating this sub-section to add durable goods, food products, fuel, and travel-related purchases to the definition of Cash Advance in your Cardmember Agreement. Thank you for using our valuable benefits."

  • PSA: Cash advance is different then cash equivalent.

    I Tried reaching out to customer service for definitive answer on whether or not US Mint coins are considered a cash equivalent, but not successful.

    Given the conflicting answers, I would still be hesitant to buy coins from US Mint in order to reach the SUB on Amex, as cash equivalents are NOT considered eligible purchases.

    • I've been buying $ denominated mint products on my biz blue cash for the last 2 years without any cash advance issues. Just fyi

    • If you buying coins with denomination on it, or uncut currency, they might have a case. If you are buying medals with no denomination on it, then legally it is not cash equivalent.

      • Yeah if anything the cash advance is the face value of the coin :') Can't see it any other way.

  • Looking forward to your post next year when they recategorize Mint purchases as CA and claw back all the points.

    Just kidding, I don't really think they're going to do that. But they've probably already checked with their lawyers to see if it's legal.

  • It's a shame the Mint makes it so difficult to switch cards. I'd be happy to switch over the morgan dollar deals that are supposed to ship this month but they are all tied to a BofA card already.

    I was successful like some others in putting a 5k+ charge on a co-branded card and received points/had it treated like regular spend for the second part of a SUB.

    I'm glad Amex made this change, it really made no sense that collectibles should be charged as a cash advance.

  • Good, some of us want to buy gold rounds with the Gold Card, Platinum coins with the Platinum Card, and centurion bullion with the Centurion Card.

  • I’ve made several coin orders with the mint over the last month using various Amexes, including a 5K+ transaction, and received points (and no fees) just fine.

    Also, I met minimum spend on 2 cards (one SUB, one an AU bonus) without a hitch.

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