03-07-2009 11:38 AM
I noticed that many retail cards (Macy's, Bloomingdales, Nordstrom) and some common bank cards (BofA) can be paid through MyCheckFree.com. I wonder if there is a potential opportunity to earn double points/rewards.
Consider example: you have 2 rewards cards, one through BofA and one through any other issuer, say AmEx. First you shop usng your BofA card and reap their points. Then you elect to pay BofA card balance using MyCheckFree service by credit card. You would select your AmEx card, which also has rewards, such effectively getting double rewards.
At the moment it's theoretical idea only and I have not attemped it yet. I will report my results. Have anyone thought of doing this before?
03-07-2009 02:29 PM
03-07-2009 04:11 PM
This cannot work. Otherwise you could simply bounce a charge back and forth between credit cards forever never paying the bill and collecting rewards. From the mycheckfree website FAQ page:
"*Fees may apply for same-day payments or payments made using credit cards."
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO