For you Travel Hackers
that is brilliant. Buy dollar coins and deposit them back into your account and earn miles on your frequent flyer account.
Have you done this?
Seems pretty smooth.
Seems pretty smooth.
Not personally. I have a Chase Sapphire which has legit rewards. I am going to be looking in to it. I think I first heard of this when Ferriss introduced the idea of buying Money Orders and doing the same thing.
This is pretty cool. I bet this can also be used on credit cards that give you cash back, or just points that can be used for cash/gifts, etc. It appears that you can order up to $3000/month. At 2% cash back, that's $720/year free money. Not bad.
Quote: (07-15-2011 01:48 PM)thegmanifesto Wrote:
This looks like it has been going on a while:
http://www.flyertalk.com/forum/milesbuzz...pping.html
It looks like interest-free, no-fee cash advance on your credit card. Which makes me wonder whether it is still the case, and how long it gonna stay like that.
This is stone-age technology for travel hackers. Though still very useful. It requires some Logistical effort but does net you a lot of points.
Personally I'd consider credit card churning a less of an effort and more gain. But there's on reason you shouldn't utilize all available venues.
Personally I'd consider credit card churning a less of an effort and more gain. But there's on reason you shouldn't utilize all available venues.
I started a thread for discussion on this subject Here please contribute if you have any information or ideas.
one-pass on continental doesn't allow points from money orders or foreign currency, but it doesn't say anything about US currency. If you do it and pay the balance off before interest accrues, it's a no-lose situation.
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I've been doing this for about a year and a half. Since the mint imposed the $1,000 per 10 day ordering limit you have to adjust your strategy accordingly. It is VERY difficult (though not impossible) to order $10,000+ worth of coins at a time. Here's how i adjusted..
I found credit cards that gave mile bonuses when you put a certain balance on the card within a specific time frame.
For instance i found a British Airways card that gave an extra 25,000 miles if you put $2,500 on the card within 3 months. Purchasing 2,500 coins within 3 months is easy, even with the long backorders which are now commonplace.
British Airways has crazy high taxes when you buy flights with air-miles though, so it's only cost effective if you have enough miles for a first class long haul flight..
The SPG Amex card is known as the "Rosetta Stone" of travel cards because you can use your points at SPG Hotels (Sheraton, W etc..) as well as transfer your SPG miles into almost any other airlines reward miles scheme. Some airlines like Delta even give a bonus when converting from SPG to Delta Skymiles.
Hope this helps!
I found credit cards that gave mile bonuses when you put a certain balance on the card within a specific time frame.
For instance i found a British Airways card that gave an extra 25,000 miles if you put $2,500 on the card within 3 months. Purchasing 2,500 coins within 3 months is easy, even with the long backorders which are now commonplace.
British Airways has crazy high taxes when you buy flights with air-miles though, so it's only cost effective if you have enough miles for a first class long haul flight..
The SPG Amex card is known as the "Rosetta Stone" of travel cards because you can use your points at SPG Hotels (Sheraton, W etc..) as well as transfer your SPG miles into almost any other airlines reward miles scheme. Some airlines like Delta even give a bonus when converting from SPG to Delta Skymiles.
Hope this helps!
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