"Here's an idea that we recently ran across. A new Web site allows members of
frequent flyer programs to earn unlimited miles into their frequent flyer
accounts for only about 1.5 cents per mile. If you've ever wanted to top off
your account for an award you are saving for, you might skip the airline and
other Web sites and go straight here (buying miles from the airlines
themselves is about 3 cents per mile). In all of 2001, there is not a better
offer for this. So, if you are planning any award redemption in the New
Year, want to use your miles for other awards (upgrades) or want a way to
fill out your spouses or kids account so they can fly free with you next
time, then join the others who are doing their Christmas shopping at
MileSpy.com ."
Location: SF CA USA. FT addict. I love large faceless corporations. And they cherish me in return (sometimes). ;)
Programs: UA 1K, Starwood Gold, HH Gold, PC Gold
Posts: 11,098
Hmmmm.... Those of us who already have hundreds of thousands of frequent flyer miles and are worried that airline bankruptcy could make them worthless, don't find this offer very appealing. At the moment, I need another 100,000 miles -- minimum purchase -- like a hole in the head. (That doesn't mean that I'm not accumulating more miles by flying and buying; but I have to fly and buy things anyway.)
If you look at the "About Us" you'll see two folks listed, one of who is obviously a FlyerTalker (since his handle is his name), and the other is also a Flyertalker that I know of.
They are obviously "arbitraging" the Radisson/Valumags promo since you can buy miles from that at .76 cents/mile (when you use a 15% off coupon) and they're selling them for 1.5 cents/mile, so they're making $744.44 on a 100,000 mile transaction. Of course there's overhead, credit card transaction costs, etc, but they should still be clearing a nice chunk of change from each transaction.
You are absolutely correct! This guy saw the messages on Flyertalk. Then set up a website quickly 4 days ago, on Dec 16. Then he turned around and try to make a profit from the same group of consumers. He is trying to make some extra$ from people's ignorance.
People, read the messages. Do-it-yourself and save big.
Domain Name.......... milespy.com
Creation Date........ 2001-12-16
Registration Date.... 2001-12-16
Expiry Date.......... 2003-12-16
Organisation Name.... Matthew Clement
The previous information has been obtained either directly from the
registrant or a registrar of the domain name other than Network Solutions.
Network Solutions, therefore, does not guarantee its accuracy or
completeness.
[This message has been edited by MoreMiles (edited 12-21-2001).]
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Beckles: If you look at the "About Us" you'll see two folks listed, one of who is obviously a FlyerTalker (since his handle is his name), and the other is also a Flyertalker that I know of.
They are obviously "arbitraging" the Radisson/Valumags promo since you can buy miles from that at .76 cents/mile (when you use a 15% off coupon) and they're selling them for 1.5 cents/mile, so they're making $744.44 on a 100,000 mile transaction. Of course there's overhead, credit card transaction costs, etc, but they should still be clearing a nice chunk of change from each transaction.</font>
The only overhead will be
1. domain registration $35
2. credit processing fee without a merchant account (eg, ccnow.com) 9%
Both can be set up within hours and become operational.
Not to mention that magazines can also be sold to local bookstore or on eBay for a reduced price. So the profit margin is huge.
