Like most here, I got this card for the 100K bonus. I used most of that reward, and haven't used this card much since.

But this week, I got some interesting checks in the mail from Capital One on this account. Unlike most balance transfer checks, they have no fees to use them, and post as purchases, not as cash advances. There is an exclusion that they don't earn rewards, but it still amounts to a free interest-free loan.

I'm thinking I will write myself a check for just under my credit limit and deposit that into my AA-mile earning BankDirect account, then pay the balance due on the card from BankDirect when it comes due. If I time the check for just after the statement closes, I should get over a month, and since there are 3 checks and they're valid till 3/15/12, I can do it twice.

With a $20K credit limit, that's 2 months x $20K x 100 miles per $1000 = 4000 AA miles.