Re: MY GOAL: Get The AmEx Centurion Card - MY PLAN: read in article
12-06-2009 09:36 PM
There are a lot easier ways to max your spending out than buying and selling crap on ebay and with a lot less risk.
Buy dollar coins from the US mint through their direct ship program and deposit them in your account. The shipping is free, they count as a purchase so you earn cash back.
Google it and you will find mega threads on fatwallet and flyertalk that outline the deal.
I hope you have been using an Amex card that offers cash back like the blue cash card.
Actually, it usually does not count as a purchase, but as a cash advance. Both Chase and AmEx list the purchase as a cash-like transaction and not only do not award any points, but start charging interest as of the transaction date.
USAA does not list the purchase as a cash-like transaction, but they do not award any points because the transaction is flagged as "government services."
There is an article in the WSJ on Dec 7, 2009 describing how this scheme works. It's not illegal, but has the whiff of dishonesty about it. Leave it to our friends in Governmnet to enable a plan to give other peoples money away.