Late last year, my computer was dying and I was upset. Sure, it was 7 years old and heavily worn, but at the time I was trying to save enough money to quit my job and the thought of shelling out more of my hard earned cash to buy a new one was making me grumpy.
At the same time, I was remembering a little trick I’d been reading about on some internet forums where travelers were buying coins from the US Mint in order to rack up airline miles. Here’s how the scheme worked:
Buy a bunch of coins from the US Mint on your credit card.
Deposit the coins into your checking account.
Wait for the deposit to clear and use the funds to pay off the credit card purchase.
Use the airline miles gained from the transaction to go somewhere exotic and have a lot of fun.
Repeat until you’re tired of traveling/carrying really heavy coins.
Bingo. I wasn’t planning to go anywhere, but I did have a credit card with a high limit and a cash back rewards program. All it took was some quick math to realize I could make $300 to help pay for my new computer for what seemed like very little work. I’d have to cross my fingers a little and try something new, but I liked the idea.
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1 comment:
Old news, the mint has closed the loophole of using a credit card for purchasing those coins as of last summer. I know, because they canceled an order that I had placed online before the policy change took effect.
Fast forward to last week, and I wanted to buy some of the coins (willing to write a check for `em), and they are no longer being offered on the mint's website at all!
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