Today s/o advertised in the Luach Hatzibur (BP), the following:
"get $2800 thru open savings from American express" with an email address for that. I was sure he got some referral link that would give the referrals at least 100K points, so I emailed him.
There came the response:
Spend $2000 on Gold card in 3 months get 27,000 membership reward points
No annual fee for first year
Sell 27,000 points for at least 1.5 cents per point ($405)
Open up card for spouse get $810 after spending $4000 in 3 months
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Spend $3000 on Platinum card in 3 months get 53,000 membership reward points
Sell 53,000 points for atleast 1.5 cents per point ($795)
Open a card also for spouse get $1590 after spending $6000 in 3 months
$450 annual fee due on first months bill (Pro-rated: meaning if you cancel after 3 months they give you 9 months back; about $300 etc.)
Part of $450 annual fee allows you to spend $200 on american airline travel. You can order $200 in american airline gift cards now and after January 1st next year. You can either keep them (and have $400 in american airline gift card for a flight) or sell them for $75 per $100 gift card ($300). This offsets the annual fee (The $150 if you want to cancel after a few months or basically all of it if you choose to wait out the year)
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Starwoods card. Spend $5000 in 6 months = 30,000 starwoods points( worth between 1.5 - 2 cents per point) $450-$600
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Total profit: $1200 (for spending $5000 in 3 months) and another $550 for spending $5000 in 6 months
Open for spouse as well : $2400 (for spending $10,000 in 3 months) and another $1100 for spending $10,000 in 6 months
Or just do 2 Gold cards if dont want to deal with Platinum annual fee (Spend $4000 get $800) or just do Starwoods card $5000 get $500
I am wondering why he didn't offer: "buy a house for $100K , and then try to sell it for $110K, and you'll make an additional $10K"
or: "travel every day to B&H and work 9-5, and you'll make an additional $1K every week".
