Last time, it was the same day refund from Lazada purchase cancellation. Now a day, Lazada refund took few days to process. This has enabled additional channel to acquire cash back, without any buy transaction incurred. Nonetheless, you must have accumulated significant amount of treat points to make it work.
Step 1: buy a refundable goods worth $1,000 during weekend in Lazada, pay using Amex.
Step 2: request refund for the goods immediate after the purchase confirmation.
Outcome 1: received a cash back of $50.
Outcome 2: after few days and up to 2 weeks, refund processed with a 5,000 treat points deduction from card account.
In above scenario, 5,000 treat points converted into $50 cash back.
Comparing cheapest treat point redemption, 10,000 points converted for $25 service tax credit.
Ladaza buy and cancel for refund definitely more worthy.
Dont try to do things like this, if you spend you spend, if got cb, its additional bonus.
Believe me, if you get into bank problem, you will be very headache.