Originally Posted by
spankytoes
I've actually been doing this for the last two months without incident. There is NO cap limit with my card swipes or the amount of points earned. I was upfront with my plan when I opened the account. Theres nothing against the T&Cs in doing this. They even allowed me to raise my ATM withdrawal limit to $1000 per day so that I can transfer funds. I'm averaging 6,500 points per month, but part of that is due to the fact that I was in Europe for 2 weeks and couldn't swipe with an international data plan. My goal is 10,000 points per month.
I have to pay 2.75% per transaction, which works out to $0.03 per $1.00 transaction. I use the Square app.
Good for you! They will definitely shut you down in a month or two, If not, please come back and tell us they haven't
. But even so - what do you care? There are plenty of other banks.
1099 is another story, and I wouldn't want to pay taxes on those miles