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Invisiblefrith
God

Registered: 10/27/09
Posts: 7,512
Loc: Philadelphia, PA Flag
A friend just told me about this brilliant idea he had
    #14322241 - 04/20/11 10:02 AM (12 years, 10 months ago)

This guy just got a new credit card that gives you airline miles for every dollar you spend.

He also found out that you can order $1 coins from the US Mint for no charge as long as it is in amounts of $1000 or higher.

He bought $2000 worth of coins for $2000. He paid with his credit card so he would get the air miles and just deposited the cash in his account.

Free miles.

:awebig:


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InvisibleSamuel L Jackson
Bad Motherfucker
Male

Registered: 12/10/09
Posts: 8,395
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322243 - 04/20/11 10:02 AM (12 years, 10 months ago)

.......im so going to exploit this.....

does it actually work? did he do it or is it just a theory right now?


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OfflineDosile Kouki
derp


Registered: 03/08/10
Posts: 14,963
Loc: Paradise
Last seen: 11 years, 7 months
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322255 - 04/20/11 10:06 AM (12 years, 10 months ago)

yeah you can do this with two credit cards as well. pay back before the interest date or whatever it is.

buy with one --> pay with other (before interest bearing date)
buy with one --> pay with other (before interest bearing date)

repeat
repeat
repeat



phase 3 - free shit


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Offlines240779
Male Unread Journal User Gallery

Registered: 12/07/10
Posts: 12,880
Last seen: 3 months, 11 days
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322257 - 04/20/11 10:07 AM (12 years, 10 months ago)

It might say in the fine print of the offer that you can't do that.

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Invisiblefrith
God

Registered: 10/27/09
Posts: 7,512
Loc: Philadelphia, PA Flag
Re: A friend just told me about this brilliant idea he had [Re: Samuel L Jackson]
    #14322259 - 04/20/11 10:07 AM (12 years, 10 months ago)

No he did it.

Hes leaving for Texas in a month and thats how hes getting there.


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OfflinegENERIX
/usr/bin/drinking?
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Registered: 10/18/05
Posts: 5,697
Loc: Skyward Bound
Last seen: 4 months, 9 days
Re: A friend just told me about this brilliant idea he had [Re: Dosile Kouki]
    #14322262 - 04/20/11 10:08 AM (12 years, 10 months ago)

Haha full credit to your think for coming up with the idea! :thumbup:


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OfflineDosile Kouki
derp


Registered: 03/08/10
Posts: 14,963
Loc: Paradise
Last seen: 11 years, 7 months
Re: A friend just told me about this brilliant idea he had [Re: gENERIX]
    #14322272 - 04/20/11 10:10 AM (12 years, 10 months ago)

don't get carried away though. in the end it only gets you the free stuff that your credit card offers you.

One other great bonus is it does wonders for your credit rating. because you have an extensive history of credit purchase all paid on time and early.


But it's no secret really, and you can't really get that much free stuff. it's usually just vouchers for things. Theres no loop-hole or secret money making scheme here, it happens all the time.


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Invisiblefrith
God

Registered: 10/27/09
Posts: 7,512
Loc: Philadelphia, PA Flag
Re: A friend just told me about this brilliant idea he had [Re: Dosile Kouki]
    #14322273 - 04/20/11 10:10 AM (12 years, 10 months ago)

Quote:

DosileFlynn said:
yeah you can do this with two credit cards as well. pay back before the interest date or whatever it is.

buy with one --> pay with other (before interest bearing date)
buy with one --> pay with other (before interest bearing date)

repeat
repeat
repeat



phase 3 - free shit



only problem with this is that you are always carrying a balance. that is not good.


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InvisibleSamuel L Jackson
Bad Motherfucker
Male

Registered: 12/10/09
Posts: 8,395
Re: A friend just told me about this brilliant idea he had [Re: gENERIX]
    #14322278 - 04/20/11 10:10 AM (12 years, 10 months ago)

holy shit, im about to travel the world this summer......


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Invisiblepwnasaurus
Stranger
I'm a teapot User Gallery


Registered: 07/16/08
Posts: 12,317
Loc: Canada Flag
Re: A friend just told me about this brilliant idea he had [Re: gENERIX]
    #14322281 - 04/20/11 10:11 AM (12 years, 10 months ago)

This is brilliant.  Thanks!

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Offlinehighc
creator
Male User Gallery


Registered: 08/31/07
Posts: 3,592
Loc: maryland
Last seen: 7 years, 3 months
Re: A friend just told me about this brilliant idea he had [Re: Dosile Kouki]
    #14322293 - 04/20/11 10:14 AM (12 years, 10 months ago)

Quote:

DosileFlynn said:
yeah you can do this with two credit cards as well. pay back before the interest date or whatever it is.

buy with one --> pay with other (before interest bearing date)
buy with one --> pay with other (before interest bearing date)

repeat
repeat
repeat



phase 3 - free shit




Umm what? U wood eventually. Have to pay.


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OfflineDosile Kouki
derp


Registered: 03/08/10
Posts: 14,963
Loc: Paradise
Last seen: 11 years, 7 months
Re: A friend just told me about this brilliant idea he had [Re: Samuel L Jackson]
    #14322300 - 04/20/11 10:15 AM (12 years, 10 months ago)

yeah, and i think in the end you have to pay for something eventually, but i mean in the process you can get heaps of free stuff. And you can keep it running as long as you like, untill you have the megga credit card, great credit rating, and flights around the world booked.


cos if you work through it logically;

card a buys $10 --> card b pays $10

now , you have your purchase, card a has no debt, but card b has $10 debt.

card a pays $10 , ---> card b now pays $10

now you still have your $10, but now the debt is on card a.

repeat repeat repeat

now you have lots of freebies, but still the original $10 debt.

in the end you still have to pay the $10 back eventually from an external source; not card A or card B.


--------------------

Edited by DosileFlynn (04/20/11 10:35 AM)

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Invisiblepwnasaurus
Stranger
I'm a teapot User Gallery


Registered: 07/16/08
Posts: 12,317
Loc: Canada Flag
Re: A friend just told me about this brilliant idea he had [Re: Dosile Kouki]
    #14322308 - 04/20/11 10:16 AM (12 years, 10 months ago)

Quote:

DosileFlynn said:
yeah, and i think in the end you have to pay for something eventually, but i mean in the process you can get heaps of free stuff. And you can keep it running as long as you like, untill you have the megga credit card, great credit rating, and flights around the world booked.


cos if you work through it logically;

card a buys $10 --> card b pays $10

now , you have your purchase, card a has no debt, but card b has $10 debt.

card a pays $10 , ---> card b now pays $10

now you still have your $10, but now the debt is on card b.

repeat repeat repeat

now you have lots of freebies, but still the original $10 debt.

in the end you still have to pay the $10 back eventually from an external source; not card A or card B.



I'm 99.99999% sure you can't pay off a credit card with another credit card without immediately having to pay interest.

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OfflineAjaxx
Amateur Mycologist
Male


Registered: 03/06/11
Posts: 1,303
Loc: Flag
Last seen: 12 years, 3 months
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322319 - 04/20/11 10:19 AM (12 years, 10 months ago)

very clever. i like this. :smile:

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OfflineDosile Kouki
derp


Registered: 03/08/10
Posts: 14,963
Loc: Paradise
Last seen: 11 years, 7 months
Re: A friend just told me about this brilliant idea he had [Re: pwnasaurus]
    #14322320 - 04/20/11 10:19 AM (12 years, 10 months ago)

maybe im wrong then. i was fairly sure there was a period of 'no interest' on credit cards whereby if you pay before that date, then there is no interest to be paid on the purchase.

I've heard about it from friends as a way to gain freebies from credit cards and increase ones credit rating.


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Invisibledwpineal
Psychedelic Artist
 User Gallery


Registered: 07/20/06
Posts: 4,667
Re: A friend just told me about this brilliant idea he had [Re: Dosile Kouki]
    #14322403 - 04/20/11 10:42 AM (12 years, 10 months ago)

This is pretty cool. I figure you could just use one card, buy the $1000 in coins, get 1000 airline miles, get the coins, and go pay off the card balance with the coins (most card companies have locations where you can go to make a cash payment in person...)

Now how many miles do you need for a free flight?

:smile:

Very cool!

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Offlinerealfuzzhead
Male User Gallery


Registered: 03/03/10
Posts: 10,783
Loc: above the smog layer Flag
Last seen: 1 year, 3 months
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322491 - 04/20/11 11:05 AM (12 years, 10 months ago)

Quote:

frith said:
No he did it.

Hes leaving for Texas in a month and thats how hes getting there.





dammmnnnn so epic ! :awehigh:

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Invisiblepwnasaurus
Stranger
I'm a teapot User Gallery


Registered: 07/16/08
Posts: 12,317
Loc: Canada Flag
Re: A friend just told me about this brilliant idea he had [Re: dwpineal]
    #14322553 - 04/20/11 11:26 AM (12 years, 10 months ago)

Quote:

dwpineal said:
This is pretty cool. I figure you could just use one card, buy the $1000 in coins, get 1000 airline miles, get the coins, and go pay off the card balance with the coins (most card companies have locations where you can go to make a cash payment in person...)

Now how many miles do you need for a free flight?

:smile:

Very cool!



It's one mile per mile you fly, and you get one air mile for every $20 spent.

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InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 87,085
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322795 - 04/20/11 12:21 PM (12 years, 10 months ago)

Quote:

This guy just got a new credit card that gives you airline miles for every dollar you spend.

He also found out that you can order $1 coins from the US Mint for no charge as long as it is in amounts of $1000 or higher.

He bought $2000 worth of coins for $2000. He paid with his credit card so he would get the air miles and just deposited the cash in his account.

Free miles.





:brilliant:


--------------------
Omnicyclion.org
higher knowledge starts here

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InvisibleChespirito
Stranger
Male User Gallery


Registered: 02/13/09
Posts: 3,259
Re: A friend just told me about this brilliant idea he had [Re: frith]
    #14322805 - 04/20/11 12:25 PM (12 years, 10 months ago)

Be careful, I have no doubt that's illegal

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