Interesting Articles...

[yuneeq]

I can tell you personally that there are plenty of arbitrage and other arguably grey opportunities that come across my desk that I don't do because I have no interest in even a small chance of winding up in prison for 2 years like those Nordstrom cashback brothers...

From what I remember, the Nordstrom bros weren't doing anything grey.
It was clearly illegal and they did it on a huge scale.

[Dan]

From what I remember, the Nordstrom bros weren't doing anything grey.
It was clearly illegal and they did it on a huge scale.

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

[Moshe123]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

How is it even close?

One is using a loophole that they can fix, the other is clear fraud when no purchase happened of anything.

[hvaces42]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

Thats money laundering. Not grey at all. Anything they want to make into a crime they can. Electronic transaction = wire fraud.

[yuneeq]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

IIUC, isn't it pretty much the same thing?
The only difference is volume, do it on a big scale and you'll eventually get caught.

[Dan]

How is it even close?

Thats money laundering.

IIUC, isn't it pretty much the same thing?

Everyone draws their own lines

[JTZ]

Since we are drawing lines here is one for you all to draw. What about earning miles/points/CB on buying GC's when we know the T&C's excluded it. Grey area or illegal? How about when you do it over, over and over again?

[shulem92]

IIUC, isn't it pretty much the same thing?
The only difference is volume, do it on a big scale and you'll eventually get caught.

+24 million

It took 24 million for these guys to get caught...

[efflpetzel]

I think they're intended more as a deterrent for people that might commit a crime than a rehabilitation institute.

In America.


Other countries have much better track records of rehabilitating prisoners

[Menachem613]

Thats money laundering. Not grey at all. Anything they want to make into a crime they can. Electronic transaction = wire fraud.

You don't know the definition of money laundering.

[Menachem613]

Since we are drawing lines here is one for you all to draw. What about earning miles/points/CB on buying GC's when we know the T&C's excluded it. Grey area or illegal? How about when you do it over, over and over again?

I'm not aware of any CC that prohibits buying GCs.

[JTZ]

I'm not aware of any CC that prohibits buying GCs.

That is not what I said but nice try.

[Menachem613]

That is not what I said but nice try.

If the CC doesn't prohibit it then why is it my fault for earning it? What if I didn't even intend to earn the points?  The fault lies solely with issuer of the points.

[JTZ]

If the CC doesn't prohibit it then why is it my fault for earning it? What if I didn't even intend to earn the points?  The fault lies solely with issuer of the points.

If your intent wasn't about the points that is one thing but when you are aware of it then exploit it that is a different story. I am not judging you or anyone else. Just pointing out the grey areas.

[Menachem613]

If your intent wasn't about the points that is one thing but when you are aware of it then exploit it that is a different story. I am not judging you or anyone else. Just pointing out the grey areas.

Intent is subjective and irrelevant in determine whether something is legal.