Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > Credit Card Programs
Reload this Page >

News Flash: CNN "You can get airline miles from Credit Card Signups and Spending"

News Flash: CNN "You can get airline miles from Credit Card Signups and Spending"

Old Jun 17, 14, 5:04 pm
  #1  
Suspended
Original Poster
 
Join Date: Oct 2006
Location: Atherton, CA
Programs: UA 1K, AA EXP; Owner, Green Bay Packers
Posts: 21,693
Cool News Flash: CNN "You can get airline miles from Credit Card Signups and Spending"

http://www.cnn.com/2014/06/17/travel...html?hpt=tr_c2

These guys are just amazing!

Who would have thought of a scheme like this:

A German entrepreneur claims to have found a way to buy 1 million air miles for as little as $6,500.

Those air miles could translate into two first or business class trips on Etihad Airways from the United States to the Maldives, or up to five return first class trips to Asia on Singapore Airlines.

Best part: he says anyone could do the same.

The scheme, hatched by Torsten Jacobi, principal owner of Bluusun Media which runs travel deals website mightytravels.com, involves applying for credit cards that offer generous sign-up and spending bonuses and then buying gift cards with the credit cards, which you immediately liquidate back into cash.
Doc Savage is offline  
Old Jun 17, 14, 5:15 pm
  #2  
Suspended
 
Join Date: Jul 2007
Location: PHL
Posts: 10,061
Originally Posted by Doc Savage View Post
http://www.cnn.com/2014/06/17/travel...html?hpt=tr_c2

These guys are just amazing!

Who would have thought of a scheme like this:
I think you forgot this emoticon
9Benua is offline  
Old Jun 17, 14, 5:58 pm
  #3  
FlyerTalk Evangelist
 
Join Date: Jun 2006
Location: IAD/DCA
Posts: 31,522
if it actually discusses manufactured spending, im not sure how much coverage that has gotten.
Kagehitokiri is offline  
Old Jun 17, 14, 7:58 pm
  #4  
 
Join Date: Sep 2004
Posts: 9,223
There's a movie about this. A man tries to get a million miles by buying pudding. It's called "Punch Drunk Love." The movie was inspired by a person who actually did it. So it's not news.
Bobster is offline  
Old Jun 17, 14, 9:00 pm
  #5  
Suspended
Original Poster
 
Join Date: Oct 2006
Location: Atherton, CA
Programs: UA 1K, AA EXP; Owner, Green Bay Packers
Posts: 21,693
Cool

Originally Posted by Bobster View Post
There's a movie about this. A man tries to get a million miles by buying pudding. It's called "Punch Drunk Love." The movie was inspired by a person who actually did it. So it's not news.
Well, a little different, but an interesting story. I think the Pudding Guy was/is a FTer, and there was an epic thread about the whole thing, but I'm far too lazy to try to find it searching from an iPad.
Doc Savage is offline  
Old Jun 17, 14, 9:04 pm
  #6  
 
Join Date: Aug 2009
Location: LHR / IAD
Programs: BA/AA/UA
Posts: 2,955
Like many FTers, I sort of assumed everyone knew about the Methods. I keep getting surprised by people who don't, and who think I must be rich what with all the first-class travel I do.

There are many signs about, showing that this particular gravy train is on the way out.
Après nous, le déluge..
China Clipper is offline  
Old Jun 17, 14, 9:10 pm
  #7  
 
Join Date: Feb 2006
Location: Cockeysville, MD
Programs: Marriott Rewards Lifetime Titanium, Amex Plat, Hertz Gold 5*, National Exec, AA Plat
Posts: 8,840
Now for wall to wall coverage since they stopped dropped MH 24/7.
Mr. Vker is offline  
Old Jun 17, 14, 9:24 pm
  #8  
FlyerTalk Evangelist
 
Join Date: Jun 2006
Location: IAD/DCA
Posts: 31,522
http://www.flyertalk.com/forum/miles...ce-things.html
Kagehitokiri is offline  
Old Jun 17, 14, 11:26 pm
  #9  
 
Join Date: Aug 2009
Location: LHR / IAD
Programs: BA/AA/UA
Posts: 2,955
Originally Posted by Kagehitokiri View Post
Ha! That post of yours brought FT down for two hours
China Clipper is offline  
Old Jun 18, 14, 7:48 am
  #10  
 
Join Date: Jul 2013
Posts: 1,034
You always get the comments every time from the guy who says you will end up in massive amounts of debt paying astronomical interest rates... And his buddy who says that for the normal person it is a head scratcher.



What could go wrong? How about nimrods doing this and not paying their bills and getting massively in debt with very high interest rate cards that most "travel" cards have? Why do you think credit card companies love these kind of idiots who claim it "only" costs $6500 to get 1MM miles? Because they know the vast majority will simply end up deep in debt and paying huge interest payments for the rest of their lives.

But at least this joker didn't tell us these were "free" flights, like most of these credit card pimps. This guy just "forgets" all the time and energy it takes to do this everyday (what normal person spends $1500 a day anyway?). Only out of work, n'eer-do-well bloggers would dream up scamming credit card companies as an occupation..
7 △ ▽

<Reply

⥅Share ›















Mind Warp> disqust101 •a day ago




This method usually works well for rich folks. They take advantage of CC's miles for spending promotion by maxing their cards on something that either can be returned in cash or used to buy something they would otherwise have had to buy in cash anyways.

For instance, they'd use every opportunity to use their CC with good mileage conversion rate for anything and everything, such as paying for monthly bills, mortgage if possible, even business supplies if you're self-employed. All that, just to earn arbitrage.

For normal people with limited income, its a head scratcher.
ibleed0range is offline  
Old Jun 18, 14, 8:15 am
  #11  
 
Join Date: Jan 2013
Location: PVD/BOS
Posts: 879
A co-worker who knows all about my MS antics sent me this article yesterday. My first thought was "6.5k for 1mil miles? pffttt .. Amateur.

My second thought was how many log-ins I could create to troll the board and discourage people from trying this out.

Why CNN, why?
ashap is offline  
Old Jun 18, 14, 10:18 am
  #12  
 
Join Date: Mar 2014
Location: PWM
Programs: UA Silver
Posts: 942
Holy s***. This looks really bad.

I say we upvote all the ignorant comments! And maybe post some ourselves
sexykitten7 is offline  
Old Jun 18, 14, 2:06 pm
  #13  
 
Join Date: Feb 2010
Posts: 1,143
Originally Posted by sexykitten7 View Post
Holy s***. This looks really bad.

I say we upvote all the ignorant comments! And maybe post some ourselves
That David fella needs to shut his trap in the comments section...he's not doing a very good job of keeping this under the radar.
bmrisko is offline  
Old Jun 18, 14, 2:56 pm
  #14  
 
Join Date: Mar 2012
Programs: Hilton, Hyatt, Priority, SPG - AA, Hawaiian Airline, United, US Airline
Posts: 608
I think MS will die soon because of the article and David's comments.
happy9zz is offline  
Old Jun 18, 14, 3:41 pm
  #15  
 
Join Date: Jan 2010
Location: DCA/RIC
Programs: HH LTD, AA PLT/1mm
Posts: 981
Originally Posted by bmrisko View Post
That David fella needs to shut his trap in the comments section...he's not doing a very good job of keeping this under the radar.

Haha yes David who obviously is either a FT member or reader "shut your trap" lol. Or admit to your dissenters on CNN that you don't know what you are talking about or just made this **** up. And that credit cards are the devil in plastic and best to just stay away from them
isle-hawg is offline  

Thread Tools
Search this Thread
Search Engine: