Get Miles without really spending and without the TC hassles
Dec 12, 1999, 7:26 pm
#1
Original Poster
Join Date: Dec 1999
Location: WPB, FL 33471
Posts: 3
Get Miles without really spending and without the TC hassles
THis is less hassle that the TC mess. I have actually done this and it works.
I discovered a service called paypal at http://www.paypal.com. My sister and I do this together.
I signed up and did the verification process. I then sent her $5 to her e-mail to test how this worked. It appeared on my cc as a regular charge ( I go 5 miles). She then transferred the $5 to her bank account. We have been doing this back and forth for a few months now and I am up to doing $2000 at a time. THe only limit is that each Paypal account can only do $5000 within a 180 day period. I have only been doing it for a little over a month and I am loving this. Once she transfers the money to her account she turns aruond and sends me money so she gets miles. I then cash them in and pay the cc bill. Turnaround for each transaction so far has not caused me any finance charges.
So far I have a little over 3000 miles this way and I plan to get more. At the limit of $5000 per 180 day period I figure I can get 20,000 miles for the year without really spending $20,000.
They offer a $10 signup bonus.
I will also get $10 if you signup and let me know so I can be the first to send you a penny. If you register, please e-mail me so we both can get the $10.
I discovered a service called paypal at http://www.paypal.com. My sister and I do this together.
I signed up and did the verification process. I then sent her $5 to her e-mail to test how this worked. It appeared on my cc as a regular charge ( I go 5 miles). She then transferred the $5 to her bank account. We have been doing this back and forth for a few months now and I am up to doing $2000 at a time. THe only limit is that each Paypal account can only do $5000 within a 180 day period. I have only been doing it for a little over a month and I am loving this. Once she transfers the money to her account she turns aruond and sends me money so she gets miles. I then cash them in and pay the cc bill. Turnaround for each transaction so far has not caused me any finance charges.
So far I have a little over 3000 miles this way and I plan to get more. At the limit of $5000 per 180 day period I figure I can get 20,000 miles for the year without really spending $20,000.
They offer a $10 signup bonus.
I will also get $10 if you signup and let me know so I can be the first to send you a penny. If you register, please e-mail me so we both can get the $10.
Dec 12, 1999, 7:59 pm
#2
Join Date: Oct 1999
Location: Seattle, WA
Posts: 685
That's pretty funny that they don't bill the transaction as a cash advance. I know the CTO of PayPal (friend of a friend), and these guys aren't as dumb as you might think they are. Incidentally, if you are interested in how they plan to make money:
http://www.zdnet.com/intweek/stories...394658,00.html
Also I think that eventually they will sign up merchants who will accept fund transfers from them directly, kind of like an ATM network.
http://www.zdnet.com/intweek/stories...394658,00.html
Also I think that eventually they will sign up merchants who will accept fund transfers from them directly, kind of like an ATM network.
Dec 13, 1999, 11:14 pm
#6
Join Date: Apr 1999
Location: Oak Park, IL
Programs: AA 2 MM LIfetime Platinum, SPG Platinum, Hilton Silver, BA
Posts: 3,585
Sounds intriging. Can you clarify how this works. Do I register both a credit card and a bank account. How are payments listed on the credit card. Are they listed by the name of the recipient so it could be identified or deducted if a business expense. Is the money received automatically transferred to an identified bank account or do you have to do that manually each time. After a few of these details, I'll be ready to sign up and get you your referral fee mewntmiles.
Thanks
------------------
DtG
Thanks
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DtG
Dec 20, 1999, 3:07 pm
#7
Join Date: Dec 1999
Posts: 99
Went to the site. In reading the user agreement section, I found the following:
II. Responsibilities of Users
In order to become a User of PayPal you must register online. You must also read and agree to the terms and conditions of this agreement, including:
5. You agree not to engage in behavior that could reasonably be construed as providing yourself a cash advance from your credit card, and agree not to assist users who engage in behavior that could reasonably be construed as providing themselves a cash advance from their credit cards. Such behavior includes, but is not limited to, a User paying someone by charging a credit card, then receiving the funds back from the original Recipient and attempting to withdraw the funds from a PayPal account. Confinity reserves the right to reverse all such transactions and to terminate any accounts that are associated with such behavior.
It is apparant that they have served us notice they will be watching for this trick, and won't permit it. If we try it, we are in violation of our sign-on agreement (that is, no leg to stand on).
II. Responsibilities of Users
In order to become a User of PayPal you must register online. You must also read and agree to the terms and conditions of this agreement, including:
5. You agree not to engage in behavior that could reasonably be construed as providing yourself a cash advance from your credit card, and agree not to assist users who engage in behavior that could reasonably be construed as providing themselves a cash advance from their credit cards. Such behavior includes, but is not limited to, a User paying someone by charging a credit card, then receiving the funds back from the original Recipient and attempting to withdraw the funds from a PayPal account. Confinity reserves the right to reverse all such transactions and to terminate any accounts that are associated with such behavior.
It is apparant that they have served us notice they will be watching for this trick, and won't permit it. If we try it, we are in violation of our sign-on agreement (that is, no leg to stand on).
Dec 21, 1999, 8:34 pm
#8
Original Poster
Join Date: Dec 1999
Location: WPB, FL 33471
Posts: 3
The transaction is simply listed as paypalon the credit card and is not treated as a cash advance. You register the card and tell them you want to use the CC when you need to beam money to someone or to transfer to another account. It is fast and easy.
As for the previous post about them watching out for cash advance abuses I don't see that this is a problem as I am not trying to get any cash advances
[This message has been edited by mewantmiles (edited 12-21-1999).]
[This message has been edited by mewantmiles (edited 12-21-1999).]
As for the previous post about them watching out for cash advance abuses I don't see that this is a problem as I am not trying to get any cash advances
[This message has been edited by mewantmiles (edited 12-21-1999).]
[This message has been edited by mewantmiles (edited 12-21-1999).]
Jan 9, 2000, 10:20 am
#9
A FlyerTalk Posting Legend
Join Date: May 1999
Posts: 46,817
I'd actually signed up for this paypal initially at the outset/unveiling, but have not used it 'til now. I just completed the proceedure and expect an easy 5k miles and $10 bucks for the trouble of signing up!
Again you get $10 for each signup and $10 for each referral so it is a pretty decent deal. If you want to give it a try and use the referral too, great!
https://secure.paypal.com/refer/[email protected]
Signing up takes a few minutes!
[This message has been edited by doc (edited 02-16-2000).]
Again you get $10 for each signup and $10 for each referral so it is a pretty decent deal. If you want to give it a try and use the referral too, great!
https://secure.paypal.com/refer/[email protected]
Signing up takes a few minutes!
[This message has been edited by doc (edited 02-16-2000).]
Jan 9, 2000, 11:32 am
#10
Join Date: Jan 1999
Location: ORD
Programs: United, AA
Posts: 624
doc .. I trust you, so I'll let you make that $10 ( for me too )
http://secure.paypal.com/refer/[email protected]
[This message has been edited by Damian (edited 01-09-2000).]
)http://secure.paypal.com/refer/[email protected]
[This message has been edited by Damian (edited 01-09-2000).]
Jan 9, 2000, 3:07 pm
#11
Original Member
Join Date: May 1998
Location: Home of 'The Rat': Orlando, Florida
Programs: Standard Memberships in all the majors hotel, airlines and Amtrak.
Posts: 185
I find this company very interesting. The concept is simple and easy to use-- and free.
#1: I SEE NOTHING IN THE SIGN-UP ABOUT GETTING 5,000 MILES FOR USING THE SERVICE. WHERE DO THE MILES COME IN TO PLAY?
#2: HOW DO THEY MAKE MONEY?
Am I reading the article right that the only money them will make will be from the interest during the time of the transaction?
Example:
On January 10th, 2000 I zap 'Jerry' $100.
PayPal charges my credit card the $100 as a merchant purchase. They take the $100 and put in into an interest gaining account.
On January 20th, 2000 'Jerry' requests that the $100 I beamed to him be sent direct deposited to his bank account. PayPal makes the transction.
PayPal, in theory, made their money on the 10 days that the cash sat in their account gaining interest?
What about their costs to charge a credit card-- approximately 3%? What about their costs to make a direct deposit to a bank?
#1: I SEE NOTHING IN THE SIGN-UP ABOUT GETTING 5,000 MILES FOR USING THE SERVICE. WHERE DO THE MILES COME IN TO PLAY?
#2: HOW DO THEY MAKE MONEY?
Am I reading the article right that the only money them will make will be from the interest during the time of the transaction?
Example:
On January 10th, 2000 I zap 'Jerry' $100.
PayPal charges my credit card the $100 as a merchant purchase. They take the $100 and put in into an interest gaining account.
On January 20th, 2000 'Jerry' requests that the $100 I beamed to him be sent direct deposited to his bank account. PayPal makes the transction.
PayPal, in theory, made their money on the 10 days that the cash sat in their account gaining interest?
What about their costs to charge a credit card-- approximately 3%? What about their costs to make a direct deposit to a bank?
Jan 10, 2000, 11:17 am
#14
Original Member
Join Date: May 1998
Location: Home of 'The Rat': Orlando, Florida
Programs: Standard Memberships in all the majors hotel, airlines and Amtrak.
Posts: 185
wombat--
I believe you are right. You can only 'beam' or e-mail money up to the amount of $5000 in 180 time frame.
So, 5k miles every 6 months-- 10k miles every year which is mentioned in the original post.
I believe you are right. You can only 'beam' or e-mail money up to the amount of $5000 in 180 time frame.
So, 5k miles every 6 months-- 10k miles every year which is mentioned in the original post.
Feb 11, 2000, 11:23 pm
#15
Join Date: Oct 1999
Location: Atlanta, GA
Programs: AA PLT, AS 75K, DL DM, HY Globalist, HH Diamond, MC/RZ/SW Platinum, AB/UA Silver, WN CP
Posts: 1,122
Originally posted by usoftie:
I know the CTO of PayPal (friend of a friend), and these guys aren't as dumb as you might think they are.
I know the CTO of PayPal (friend of a friend), and these guys aren't as dumb as you might think they are.
Under the PayPal TOS, if you charge back an amount to them, it will be refused and you'll also be billed any associated chargeback fees. At this point she doesn't care about PayPal closing her account as a result of a CC dispute (since she'll never use them again), but she would like the money to either go to me as intended or be returned to her. Seems pretty reasonable!
Since you're in the know, do you have any other suggestions on how to resolve this...would you be willing to pass my email address on to your friend-of-a-friend, for example? Feel free to contact me directly to discuss this further. Thanks!