Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Transferring money to earn miles?
Old 12-26-2013, 11:04 PM   #1
Recycles dryer sheets
Greencheese's Avatar
Join Date: Oct 2013
Posts: 239
Transferring money to earn miles?

Was talking to a friend the other day and he talked about using amazon payment processing to earn airline miles on "fake" purchases to a friend. Essentially he said he sent the other party the maximum allowed for points and the other person would do the same to him, the result was a purchase for X dollars on each of their credit cards but because they sent the money to each other they didn't spend a dime. Rinse and repeat each month for free miles/points/cash back.

Has anyone heard or had experience doing this? Seems like an easy way to rack up airline miles if this is true or easy, or just lose a friend when they take your cash! Just thought about doing this with another person in order to save up airline miles for trips without giving up my cash back that I enjoy for most of my purchases.

Greencheese is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-26-2013, 11:43 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
Join Date: Jan 2007
Location: Independence
Posts: 5,086
have read about it but it doesn't seem kosher to me. I love taking money from the card companies but meet the minimum spend amounts via paying bills and such. F'rinstance, I don't have a problem prepaying our cell phone bill by $1500 or so to meet a minimum spend and earn 5% cash back with a Chase Ink card.
calmloki is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 11:58 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.