poptarts

How do you use the coins to pay your mortgage? Sorry, sounds like a stupid question but I guess you walk into the bank and the mortgage in $1 coins?

The FT Chicago DO was excellent, I learned a lot and highly recommend it if they have it again.

Happy

Only ONE issuer's cards can set the cash advance amount to 0. Said issuer's name has been mentioned gazillions times on this and other threads.

All other issuers have cash advance set as a % of the CL and would not budge to modify it in any way.

OTOH, calling the issuers is one of the dumbest act the participants may do. It is all a trial by error risk-taking game and the collective wisdom / sharing experiences should have been enough for anyone who decides to take the plunge. If one needs a 100% assurance then one should not even try to do this.

What about the coins go missing during the shipping process? What about the shipment is short? What about the shipment is stolen? ALL these scenarios have happened and reported before - wouldn't this be more troublesome than if an issuer charge you a 3% cash advance fee and interest? Which if you monitor your card(s) regularly you should be able to see the classification of the transaction soon enough to at least do something about it.

Stoughton

If you have a card issued thru a bank that has a physical location nearby, use them to pay your credit card bill.

mr.hanky

I read on the fatwallet thread that you can use Big Crumbs to get 1.6% cash back on Amex gift cards plus cash back or miles/points from the card you used to purchase them. Then you can spend the gift cards on these coins. It seems like a good ideal. I'm going to call my credit card issuers and make sure it will all work the way I think it will unless you guys can verify it is all kosher.

msw423

Thank you for the advice. I am already aware of this, but unfortunately no local branch nearby for credit issuer. I could use automatic transfers once my system is fully set up, but for now I will be just feeling out local branches that hold my mortgage to see how they handle the coins. Before I was doing interbank transfers from non local credit card bank (main account) to local mortgage holding account.

poptarts

The first rule on Flyertalk is NEVER call! Please see post 10741.

buschoi

+1. I actually think many of them are paying equally close attention. Citi has treated something as CA; Chase has closed accounts; AMEX drawing financial review (my personal experience); rumor about Schwab not giving out cash back; US Flexperks not giving out points anymore. Thanks to those who bring more attention to the financial institutions, the door will be closed one after another. FTers will still find ways to do it, but they will be all in PMs and those who stubbornly ask DYKWIM will eventually lose every single bit.

mr.hanky

I don't care about long term. I just wanted to meet the spending on my AA cards so I can trade the miles for a Target card and get a free Ipad.
Since I read about the big crumbs cash back stacking it makes it more lucrative so I'm going to take what I can get while I can get it, just like those that preceded me, I won't be posting pics though.

QL_714

If you use your AA card I hope you like paying cash advance fees on those GC's.

BudgetJetsetter

I'm assuming Mr. Hanky is a newbie when it comes to accruing easy miles and whatnot.

The do not call rule is simple common courtesy for all partaking in a deal. Repeated calling about price mistakes, finance deals, etc. brings unwanted attention and essentially kills a deal or makes it less lucrative.

Simply put, people like him are the reason why the best deals are spread through private messages and why others and I keep our mouths shut when golden gooses are discovered.

FYI, I don't buy coins anymore simply because they aren't worth the hassle and haven't been for awhile.

popot53

This is my situation:

I started with coin depositing in may. I've got 4 diff. banks and I never take more than 3k/week into any one branch.

Bank 1: After about 50k they have decided to charge $6 per 1k.
Bank 2: After about 40-50k they have decided to charge $10 per 1k.
Bank 3: After about 40k received a letter this morning saying that my account will be
closed by next week.
Bank 4: So far 20k and nothing, but I'm sure they will flip on me eventually. On the second deposit the manager came up to me and said, "Your doing this for miles right? Don't they stop you from ordering if you deposit these at the bank?" My answer, "Not if you have a legitimate business and are doing your part to circulate them".

Now time to find bank 5...

Happy

Last time I look, there is no "legal" way to trade your AA miles directly for a Target GC or an iPad, not even through Points.com. Indirectly may be. I hope you have done your math to see how much your AA miles would eventually equal to whatever "currency" you wound up with that would let you have a Target GC and an iPad.

Yup. But it seems mr.hanky may have gotten "assurance" from CSR that his purchases of AMEX GC would be treated DIFFERENTLY than others preceded him. lol.

QL_714

I would gladly pay 6 – 10 per 1k if they accepted unlimited amounts.

benmaller

+1

popot53

Really? The bank that wants $6 will take as many as I bring now and they're right outside my subdivision. It's just hard to pay up knowing that it could be free