Account closure for manufactured spending?

Old Feb 5, 18, 10:41 pm
  #1  
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Account closure for manufactured spending?

Hey guys,
I was here thinking, there is alot of E-Money services like LeuPay and other sites that have the option to credit your account using Credit Cards, some services only charge around 1,8% per transaction, this means I could get 100,000 points by crediting my account with 100,000U$, and just paying 1,800U$ from my own pocket.

My question is, would this lead to account closure? I tried searching for it, but only found topics about "legal and illegal" views of manufactured spending...
felipefkk is offline  
Old Feb 6, 18, 1:05 am
  #2  
 
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Originally Posted by felipefkk View Post
Hey guys,
I was here thinking, there is alot of E-Money services like LeuPay and other sites that have the option to credit your account using Credit Cards, some services only charge around 1,8% per transaction, this means I could get 100,000 points by crediting my account with 100,000U$, and just paying 1,800U$ from my own pocket.

My question is, would this lead to account closure? I tried searching for it, but only found topics about "legal and illegal" views of manufactured spending...
Most people would not consider paying 1.8% to be desirable. I could see doing it if you needed miles for an international business class ticket and you had credit cards that could carry the weight of that many points over the time you need to do it.

As far as account closure, what triggers it is only a guess. Financial institutions rarely give a reason. Nor are there generally accepted norms for what won't get an account closed. The first sign you're close to getting an account closed, is usually a closure notice.
redtop43 is online now  
Old Feb 6, 18, 6:46 am
  #3  
 
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More like one day the account works, the next day it does not. Sometimes this happens over a weekend when some banks batch closures after their vermin have scurried through the accounts and announced a purge. More rarely you find signs of rodent droppings and chewed upon bank statements when you get called and questioned over certain patterns of banking activity.

Originally Posted by redtop43 View Post
...The first sign you're close to getting an account closed, is usually a closure notice.
AlohaDaveKennedy is offline  

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