Originally Posted by
sydneyracquelle
Every second January I pay the IRS $245,000 plus a 1.89% fee on my Reserve card and immediately file a tax return for a refund. I get 1.5 SM on the amount over $150,000 plus 60,000 MQMs plus 2 FC companion certs. Then I put the card in a drawer for 2 years. This gives me 2 years of DM status but CBs only every second year. This has been the best way for me to maintain my DM status and not having to stress over getting 40,000 MQDs (20,000 MQDs per year).
I have thought of doing this, but I normally only spend $60-$90K on the card, and figured that Amex would drop me over such shenanigans.
Your hack works out pretty well. Even at $.01 per mile, you are only out $1705 and that's before the value of the companion certificates.
And it gets you two years of Diamond for one year of spending.
Nicely done!
Of course there is the risk that some scammer files your return first and grabs your tax refund.
David