Author Topic: Ideas to reach bonus spending requirments on new cards (Read 7597 times)

Daniel · « **on:** November 02, 2009, 03:52:51 PM »

Hi All,

I just thought of something today- sorry if this is an old idea. In order to reach the spending requirement on a new card- like $750 in 4 months, instead of lugging around coins and getting nasty looks at the bank- can't you just:

Send yourself money through PayPal or any other online credit card processing site. It will cost you 1.5% to 4%- but for $10 - $15 it might be worth not having to shlep around.

Any reason this would not work?

Also, could you do the same thing and then refund the purchase a few months later, after the points post. Do they have a protection against this kind of behavior? Seemingly you could do that with a $750 item in a store as well.

Mikeoracle · « **Reply #1 on:** November 02, 2009, 04:59:22 PM »

When you return the item you will be in the negative mileage so the next $750 in spending wont get any mileage, I think I saw a discussion like this on flyertalk where it was mentioned that sometimes the cc would actually retract the mileage/points from your FF acct.

Dan · « **Reply #2 on:** November 02, 2009, 05:29:14 PM »

Is ordering $750 of coins such a big deal? It's just 13 pounds?

Paypal will ban you if you pay yourself money. Now if you find a friend to do a reciprocal payment then that would work.

A return can either be taken out of your account or give you a negative mileage credit for the next purchase, but I've never seen them take back the signup bonus because of a return.

mancunian · « **Reply #3 on:** November 02, 2009, 05:36:29 PM »

buy amex gift checks, costs i think $2.50 a check plus $5 shipping flat - not sure if my math is right here but it comes out to $30 on a thousand, you can order $1000 every 14 days, i dont think its per card, its per address maybe, and you get the same nasty looks just its not heavy

SuperFlyer · « **Reply #4 on:** November 02, 2009, 06:20:25 PM »

I wrote one way to do it http://www.dansdeals.com/forums/index.php?topic=146.msg8940#msg8940

Yordai Dooma · « **Reply #5 on:** November 02, 2009, 06:28:04 PM »

I had an interesting idea and don't know if its legal.

I have a mortgage and a credit card with chase bank. I recently received an offer to get $225 for opening a checking account with Direct deposit and having the mortgage auto pay from the checking account. They gave me the platinum checking account with free checks.. free everything including free overdraft protection. My funding source is my priority club chase credit card.

So if i have 1 dollar in the account and i write someone a check for $1000, my credit card will be charged and ill get points for that, right?

What if i write myself a check for $10,000 and deposit it another bank. Then i pay back the credit card with that account and i just earned 10,000 points. Would this even work? Would it be illegal? Is it bad to use my overdraft protection for something like that?

Any thoughts?

Dan · « **Reply #6 on:** November 02, 2009, 07:02:30 PM »

Quote from: DAVID on November 02, 2009, 06:28:04 PM

I had an interesting idea and don't know if its legal.

I have a mortgage and a credit card with chase bank. I recently received an offer to get $225 for opening a checking account with Direct deposit and having the mortgage auto pay from the checking account. They gave me the platinum checking account with free checks.. free everything including free overdraft protection. My funding source is my priority club chase credit card.

So if i have 1 dollar in the account and i write someone a check for $1000, my credit card will be charged and ill get points for that, right?

What if i write myself a check for $10,000 and deposit it another bank. Then i pay back the credit card with that account and i just earned 10,000 points. Would this even work? Would it be illegal? Is it bad to use my overdraft protection for something like that?

Any thoughts?

1st of all I'd rather have 25K Continental miles than $225.
2nd of all, It's definitely not illegal, but make sure to set your Cash Advance limit to $0 so you aren't charged interest on your credit card.
3rd of all, Priority Club credit card, seriously?

I'm not sure that I can think of a less valuable credit card reward point.

mancunian · « **Reply #7 on:** November 02, 2009, 07:10:55 PM »

you can get 1 checking bonus from chase per calendar year, so could be you can do both...

and from experience overdraft protection has shown up as a cash advance

Yordai Dooma · « **Reply #8 on:** November 02, 2009, 10:56:23 PM »

Quote from: Dan on November 02, 2009, 07:02:30 PM

1st of all I'd rather have 25K Continental miles than $225.
2nd of all, It's definitely not illegal, but make sure to set your Cash Advance limit to $0 so you aren't charged interest on your credit card.
3rd of all, Priority Club credit card, seriously?
I'm not sure that I can think of a less valuable credit card reward point.

Dan,

1st- i dont fly continental that often, so $225 was more appealing to me.
2nd- it will probably show up as a cash advance. If so, does one still get points for that?
3rd- yes a priority club card. You may ask why? In my immediate family, we have at least 9 starwood cards sitting in my house at the current moment (between all additional cardholders to get the bonus 1000 points). Thanks to your site, i have earned over 300,000 starwood points. I got the priority club card to complete the 4 activities needed for a priority club deal to get a bonus 10,000 points and got 30,000 points for opening the card. Thats 40,000 points. Using their point-break hotels at 5,000 a night, thats 8 nights at a hotel!!

Ive been a fan of yours from the way beginning of ctownbochur when a friend told me about it. Im fully aware that starwood is hands down number 1. But as you always say, im trying to spread points all around so i have availability when i need it. Whats the harm in opening an extra credit card for the sign up bonus, right?

Obviously if this DID work and if i could do it with a starwood card, i clearly would!

Dan · « **Reply #9 on:** November 02, 2009, 11:19:24 PM »

1. Continental has 35 airline partners, you never fly any of them?

2. You don't get points for cash advance, but like I said, set the cash advance to $0 and see if it goes through as a purchase.

3. Fine, you signed up for a PC card, I've got no problem with that. But why do you keep using it? Their points can be purchased for 0.6 cents a piece! Any other rewards card gets you points worth more than that.

Yordai Dooma · « **Reply #10 on:** November 02, 2009, 11:26:39 PM »

Quote from: Dan on November 02, 2009, 11:19:24 PM

1. Continental has 35 airline partners, you never fly any of them?

2. You don't get points for cash advance, but like I said, set the cash advance to $0 and see if it goes through as a purchase.

3. Fine, you signed up for a PC card, I've got no problem with that. But why do you keep using it? Their points can be purchased for 0.6 cents a piece! Any other rewards card gets you points worth more than that.

To be honest, we dont fly that often. When we do, we usually fly American as i have the most miles with them (thanks to churning).

I only used the card once to make an initial purchase to get my 30,000 points, and once by accident when a vendor didnt accept Amex and i couldn't find my AA mastercard.

Ill try it out setting the cash advance to $0 just to see if it works.

Thanks for all the advice and for an amazing site!!

ash · « **Reply #11 on:** November 03, 2009, 10:51:13 AM »

so in cali chase is now currently offering to switch your current debit card to united or continental
for $25 a year
so for those that have this already the question is
is it possible to churn ?

Dan · « **Reply #12 on:** November 03, 2009, 10:54:37 AM »

Quote from: ash on November 03, 2009, 10:51:13 AM

so in cali chase is now currently offering to switch your current debit card to united or continental
for $25 a year
so for those that have this already the question is
is it possible to churn ?

You can sign up for a nea chase account with a $25 Continental debit card to get 25K miles once per calendar year.

eli1571 · « **Reply #13 on:** November 03, 2009, 11:31:54 AM »

Quote from: Dan on November 03, 2009, 10:54:37 AM

You can sign up for a nea chase account with a $25 Continental debit card to get 25K miles once per calendar year.

if u pay the fee for the 2nd yr do u get 25k again ? Or is it once per account

Dan · « **Reply #14 on:** November 03, 2009, 11:53:13 AM »

Quote from: eli1571 on November 03, 2009, 11:31:54 AM

if u pay the fee for the 2nd yr do u get 25k again ? Or is it once per account

Once per account.

ash · « **Reply #15 on:** November 03, 2009, 12:28:30 PM »

but can you close it or downgrade it , and then reopen next year again ?

Dan · « **Reply #16 on:** November 03, 2009, 12:49:23 PM »

eli1571 · « **Reply #17 on:** November 03, 2009, 02:41:42 PM »

Y wouldn't u all use the discover card isn't it the easiest ?

eli1571 · « **Reply #18 on:** November 03, 2009, 02:47:05 PM »

Quote from: ash on November 03, 2009, 12:28:30 PM

but can you close it or downgrade it , and then reopen next year again ?

does it have to be closed or can u just open a 2nd account ?

mancunian · « **Reply #19 on:** November 03, 2009, 05:54:21 PM »

Quote from: eli1571 on November 03, 2009, 02:47:05 PM

does it have to be closed or can u just open a 2nd account ?

pretty sure u can just open a second account.

I was trying to downgrade and upgrade my card to get mileathon points, not sure if it will work, so far ive downgraded, im waiting for something back from another dept. and dont want this to interfere so im waiting to upgrade.
I once upgraded to the $65 card to get 2,500 miles and, just like i had thought, after the miles posted i downgraded and the fee reimbursed.
Could be i can upgrade twice (to the two different cards) and get more mileathon points...
Maybe a lot more than twice...

Btw anyone who opened an account w/ key they have a continental debit card which gets you 20 mileathon points and i think 4,000 miles...