Money Orders to Miles - Myth or Fact
 

I have read the maze of threads on this and still don't really understand the "true story". Can you buy Money Orders or any liquidable cash item and get FF miles? If Fact experts - help me understand the options and process.

Myth now AFAIK unless you wear a credit card premium in some cases, which means you are effectively paying as much or more for the miles as the airlines often sell them for.

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~ Glen ~

Come visit HERE the most ** FRIENDLY FORUM ** on FlyerTalk. No flame wars, no personal abuse, no substance abuse. Not much of anything really!

Cash advances on cruise liner casinos was an interesting exception to this on some lines. (Also being phased out with a % fee added.) Each passenger on RCL used to be able to get $US10,000 each cash advance IIRC.

Take the cash to nearest bank on the daily stops, pay it into your card, and a couple effectively got 20,000 miles for nothing - plus any sign up or activity bonuses that might apply to your card. As long as you START the cruise with that sum pre-paid as a voluntary credit you are fine.

As I pointed out on another thread, (as it is my line of business) buying mint USA stamps from USPS on credit card and then taking them back for a cash refund OFTEN works too. (Trust me on that. http://www.flyertalk.com/forum/smile.gif)

A few $100 of course is no issue, (and not many miles for the effort) but for $20,000 or whatever there would be Managers quietly phoning the IRS I imagine. http://www.flyertalk.com/forum/biggrin.gif

Also as I pointed out in detail buying traveller cheques or Gold or Platinum bullion coins or bars etc on credit cards is also very likely to make you a profit if you are patient for a month or two and get lucky. It is NOT guaranteed of course, as currency and bullion can go down as well as up, and you need to cover the skinny dealer margin first up, and the skinny sell spread.

Travelex for instance generally offers flyer miles on transactions, so you get miles for effectively buying cash. One guy here got a million or so Qantas miles and it cost him nothing and it was done in an hour. http://www.flyertalk.com/forum/thumbsup.gif http://www.flyertalk.com/forum/thumbsup.gif
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~ Glen ~

Come visit HERE the most ** FRIENDLY FORUM ** on FlyerTalk. No flame wars, no personal abuse, no substance abuse. Not much of anything really!

[This message has been edited by ozstamps (edited 08-25-2003).]

I did not think the USPS would give money back.

I did a sample foreign currency buy on the travelex site, but the commission/spread they charge is very prohibitive. It showed a commission of about $800 on a $10,000 buy of Bahamiam $, which should be on par with the USD. There is no option to buy USD with USD.

Not sure how the Australian guy did it without paying tens of thousands in fees...do you have any more info, Ozstamps?

TRUST me .. they do for a few $100. As I said, this is my business. http://www.flyertalk.com/forum/wink.gif

Travelex is a large It'l company and AFAIK you can still get Qantas miles for each $$ I spend. They once had a double miles promo, so I bought $A25,000 worth of $US TC and prayed exchange rate moved slightly in my favour in the next weeks or so.

It did, so I ended up getting 50,000 QF points and made a few $100 on the deal! An around Australia ticket in business class on QF was only about 30,000 miles back then, with unlimited stops, so it was a neat deal. http://www.flyertalk.com/forum/smile.gif

One guy bought $250,000 or whatever of $A TC off them. Took in a certified bank cheque from his bank a couple doors up. Got all the paperwork and QF verification receipts, and then says "I changed my mind on this - I'd like to sell them all back please".

As Travelex offered $A TC buy and sell at NO fee if paid in $A as it is illegal to do otherwise, they nearly collapsed with shock. (As you'd imagine 99% of folks buying $A TC are tourists and paying in Yen, $US, Euro etc, at the bad rate set by Travelex.)

Anyway, guy took cheque back next door, and put back in his account. Cost to him - $10 for the cheque and his time. Took his wife and 2 kids to London First Class on Qantas with the 500,000 miles, and they plugged that $A>$A loophole in HOURS! Seems he knew his Bank Manager well, and told him what he was about and said cheque would be back and torn up within the hour, so it did not even go in and out of his bank account.

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~ Glen ~

Come visit HERE the most ** FRIENDLY FORUM ** on FlyerTalk. No flame wars, no personal abuse, no substance abuse. Not much of anything really!

Does anyone know where to buy travelers check with no fee, using credit card? I am thinking buying USD 8000.

thanks !

Greetings, and welcome to Flyertalk! You will find that people here are very helpful and friendly.

I have also been looking for what I consider the holy grail of mileage opportunities, the no fee traveler checks. Alas, they seem to have gone the way of the dodo bird, assuming that you are purchasing them with credit cards. Most companies have caught on to this scheme, and while several offer no fee checks, most do not allow you to purchase them with credit cards. Good luck finding one, but it is unlikely. If you find a place that does so, though, please let us know.

Mike

Hello,
Another question. Is it illegal to buy $10,000 worth of TC at AAA using credit card , though i might get cash advance fee, and deposit them into my bank account right away? Can I repeat same thing over and over?

thanks

All other things being equal, it is legal. But why would you want to do this?

to earn mile ! without any fees !

cash advance fees?


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"Remember, no matter where you go, there you are", Buckaroo Bonzai

99.9% of millage credit cards out there do not give millage for any transaction posting as cash advance or balance transfer. If you do a search you will find a post on one company that offered millage on ballance transfer but they stopped. Next you will find very few places you can purchase a worthwhile amount of Travelers Checks with a credit card without a fee. So that eliminates both. THE ONLY FEE FREE MILLAGE METHODS THAT I KNOW THAT ARE EQUIV TO CASH :
1. purchase savings bonds (1 year hold req)
2. Cruise casino(new restrictions by RCL)
3. Post office money order using BofA debit.
(read thread as they stopped allowing)

You used to be able to earn miles on TC purchases through currencytogo.com.. (they posted as purchases not cash advances - also with free delivery!). alas a 'victim' of 911. You may be able to still call them and arrance pickup at an office.

[This message has been edited by hauteboy (edited 08-27-2003).]