USA Using merchant account credit card charge as loan


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I have a small business (LLC S-corp) a credit card merchant account and a Starwood business Amex. Amex is running a special for 2x points for charges at small businesses. I'm considering churning an amount from my business Amex via my own business merchant account. How to account for it as a loan? Any concerns?

My merchant account Amex rate is 2.28%. So if I charge my business Amex at the office $30000 = 60000 Starwood points with transaction cost $700 yields 1.1 cent per point (which is very good). I'd pay it off right away from the business checking account.

Thanks
 
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