Would it be illegal for me to post a ticket to an event on stubhub for an absurd markup, and then buy it myself with a credit card to rack up points? Nothing about this seems criminal, but it seems too easy…
Cost paid to stubhub > value of points. Bad trade.
A better option would be to buy those $1 gold coins from the US govt (with no shipping) using a credit card that earns points. Take the coins to the bank, pay off credit card, rinse, repeat.
Or just get a job.
Really bad idea.
Better idea to buy all the gift cards at the supermarket, and then use them as you would use cash.
My supermarket charges an activation fee, at least for Visa gift cards.
Wait. Is this possible?
The coins cost more than $1
Believe it ot not it used to be. http://www.businessinsider.com/us-mint-ends-the-dollar-coin-scam-for-airline-miles-2011-7
One of my friends did this.
once upon a time… http://www.businessinsider.com/us-mint-ends-the-dollar-coin-scam-for-airline-miles-2011-7
In the past you could. http://www.businessinsider.com/us-mint-ends-the-dollar-coin-scam-for-airline-miles-2011-7
I think this was discussed on here before. For those who don’t want to search for it or read the article provided above, the basic scheme was this:
“Purchase” $X,000 worth of dollar coins directly from the US Mint with a rewards credit card. The coins were shipped direclty to you for free.
Drive to the bank with your coins and deposit them.
Pay off your credit card bill with the deposited coins.
Earn free credit card rewards and even a bit of interest on your bank deposit.
This is the equivelant of counting cards i.e. cc companies/casinos encourage people to run these “scams” because 99% of the time the plan backfires. Not many people have the discipline to not use all that cash that was taken out on your card or to hold off on hand when the count is not in your favor.
Pit boss would actually kick you out the second he/she noticed you are counting with any success
You’re looking for www.reddit.com/r/churning. Professionals at the free credit card stuff over there.
wow, i’m impressed. the intro thread to the sub is extremely detailed https://www.reddit.com/r/churning/wiki/index
These days, the bit boss is often not even in the loop. The men in suits will be behind you before the pit boss knows what is going on. It’s all the eye in the sky. And it doesn’t happen the very second they notice, They don’t like to leave a bad taste for the actual gamblers at the table.