Published on December 31st, 2014 | by William Charles1
American Express Nerfs Their Campus Edition Card Starting March 1, 2015
In case you didn’t know American Express has a prepaid card called the American Express Campus Edition card. In the past it was possible to reload this card at registers of select campus bookstores using a credit card. There was a $3.95 fee charged and you could only load $500 at a time but this was still a good manufactured spending technique for those with a credit card that earns at a high rate on bookstore purchases. I was personally using my Sallie Mae credit card which was earning me 5-5.5% cash back.
American Express has just sent an e-mail out to cardholders of the Campus Edition card and the changes are bad, real bad.
- Starting March 1st, 2015 you will no longer be able to load your Campus Edition at participating campus bookstores. This means no more credit card reloads.
- Starting February 1st, 2015 you will no longer be able to purchase and load Green Dot Money Paks onto your card.
You were only able to load $6,000 per year (card member year, not calendar) so this isn’t a huge loss for me, although some people were able to get around this limit by signing up for a new card. I know some readers were following my advice to purchase the temporary cards to get 4%+ cash back everywhere which is also no longer possible as American Express have pulled these from the shelves.
For those of you thinking about getting a card for a quick little manufactured spending before this is closed in three months, you’re also out of luck as it’s no longer possible to sign up for this card.