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Chase Ultimate Rewards question

Posted: Fri May 24, 2019 11:52 pm
by Nicknuzzii
I am new to the points game and am seeing the common theme of people using gift cards to earn points. So I am interested has anyone tried this or had a negative experience? More specifically I plan on,

1. Buying an Amex Gift card with my Credit Card
2. Transferring the value on the gift card to my paypal account
3. Then transferring the money on my PayPal back into my bank account
4. Finally, I would pay the credit card bill with the newly deposited money in my bank account
5. Earn points!

I would then repeat this cycle.

Re: Chase Ultimate Rewards question

Posted: Sat May 25, 2019 2:48 am
by spacecadet
Stuff like this is why the airlines continue to devalue their FF points. And if this process hasn't been shut down by the airlines or credit card companies already (and I seem to remember that it has), it will be soon.

Just get an AMEX card and put all your purchases on it. You'll have more points than you know what to do with before you know it. That's what the point system is designed for.

Re: Chase Ultimate Rewards question

Posted: Sun May 26, 2019 5:54 am
You aren't smarter than the banks.
They will know what you are doing, and would then (hopefully) cancel your card account.
That being said there are entire sub-Reddits for credit card churning with the latest "tricks" (probably created by the banks!).