- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Ethics being debated on this White Coat Investor post
Posted on 12/6/16 at 5:30 pm
Posted on 12/6/16 at 5:30 pm
LINK
Basically, the poster is racking up thousands of dollars in points and cash back by opening free or low cost checking accounts, depositing funds from a credit card and then paying it off.
I just tried it to meet the qualifications of a sign up bonus on a new card, but it got me thinking - someone with a couple hours of free time could make a decent chunk of cash every month.
What say the Money Talk board?
Basically, the poster is racking up thousands of dollars in points and cash back by opening free or low cost checking accounts, depositing funds from a credit card and then paying it off.
I just tried it to meet the qualifications of a sign up bonus on a new card, but it got me thinking - someone with a couple hours of free time could make a decent chunk of cash every month.
What say the Money Talk board?
6
Posted on 12/6/16 at 6:31 pm to anc
Personally, I'd be terrified to put $55k on my credit card and count on everything going perfect. That's a lot of change.
If she's willing to take the risk that she'll owe interest if her system falls through or something is delayed, then good for her.
If she's willing to take the risk that she'll owe interest if her system falls through or something is delayed, then good for her.
Posted on 12/6/16 at 7:21 pm to anc
Ethically it's fine. They have huge amounts of money to invest in lawyers to write the fine print.
Posted on 12/6/16 at 7:47 pm to anc
I didn't think CC awarded points for cash advances
Posted on 12/6/16 at 7:55 pm to crazycubes
It says you need to use a card that doesn't count it as a cash advance.
Posted on 12/6/16 at 8:03 pm to SLafourche07
Wow, what CC is that? I mean, sending straight from your card to a checking account is a cash advance . What am I missing here? If a bank "charges" your card $50,000, the bank has to pay a fee. So, someone has to be taking a loss in the transaction somewhere.
Posted on 12/6/16 at 8:06 pm to crazycubes
Ok, I googled. You can play the game by buying Visa or Amex gift cards on the original card.
Eta: that being said, there are fees with those . So, I'll just stay confused
Eta: that being said, there are fees with those . So, I'll just stay confused
This post was edited on 12/6/16 at 8:09 pm
Posted on 12/6/16 at 8:11 pm to anc
quote:
Ethics being debated on this White Coat Investor post
There is no ethical problem. Their team of lawyers and high priced execs created a system with many rules. Those rules are set up to benefit themselves. If you find a way to benefit from them, you are just doing what they are doing as a mutual party to the contract. That's it.
There's not a whole lot of mystery to what they are doing.
This post was edited on 12/6/16 at 8:12 pm
Posted on 12/6/16 at 9:21 pm to Teddy Ruxpin
Many credit cards have convience checks that work with this.
Posted on 12/6/16 at 9:29 pm to anc
There are weekly threads about manufactured spending on /r/churning.
It isn't something that I have gotten into yet.
It isn't something that I have gotten into yet.
Posted on 12/7/16 at 11:29 am to anc
quote:
I have always worked really hard: 7 jobs in college ranging from MCAT tutor to nanny. I even worked two jobs in medical school as a single mother. As a resident, I’m currently working four jobs if you count being a mother as one of them!
She sounds exhausting.
Posted on 12/7/16 at 12:57 pm to Cold Cous Cous
quote:
As a resident, I’m currently working four jobs if you count being a mother as one of them!
Having a wife who is in residency, I call BS. We don't have kids, and I really can't see having additional jobs/income streams while being in a residency being feasible.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News