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Cash Advance Fees for SVM Gift Cards on eBay: What You Need to Know

DDG
DDG

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SVM Gift Cards Cash Advance

SVM Gift Cards Cash Advance

SVM Gift Cards is one of the most popular gift card seller on eBay and they sometimes have profitable cards for sale.

But you might want to think twice before purchasing cards from SVM as of now. Apparently they changed their merchant coding sometime in the last few days. This change means that purchases from their eBay store paid for via PayPal are coding as cash advances with some credit cards. This is something that happened earlier this year as well.

What to Do Now?

First check your credit card accounts to see whether you were affected. The best protection going forward is to use a card with a cash advance limit of $0. You could also use your bank account, debit card or PayPal balance to buy the cards, but you would be losing out on credit card rewards. It might be best to just avoid SVM purchases for now, especially if your card was hit with a cash advance fee.

HT: Doctor of Credit

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

7 COMMENTS

  2. Just one data point:

    I used my Amex Delta Platinum Business two days ago (12/4/17) to purchase 3 $100 hotels.com gift cards from SVM using the 10% discount.
    I just called Amex, and the $270 charge does NOT show as a cash advance.

      • Interestingly Amex recently sent out emails (to me at least) titled “Cash Advance Enrollment Update” notifying me that my cards were enrolled for cash advances. It mostly relates to Amex usage at ATMs, but I don’t know if that makes any changes to whether CAs can be processed by merchants now.

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At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

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