I know it's been awhile since I have posted something new but this story I just heard needed to be written.
It's from a man who, like myself, will find loop holes in anything to save a buck.
It all started by realizing that the Indian casino near him would accept credit cards to buy gift certificates for play in the casino. Once you have the certificates, you can cash them in for actual cash to go play in the casino.
Well...
This loop-hole-looker had a blaring light and siren go off in his head and thought, why don't I buy some gift certificates for myself?
This is what he did,
Step 1, Go to the gift shop and buy $6,000 worth of gift certificates with his credit card, his cc reward program was for airline points so he just earned 6,000 miles.
Step 2, Walk to the other side of the casino to the cashier and cash them all in. Now he has $6,000 in cash.
Step 3, Take that $6,000 and open up a 6 month CD at his bank, at that time CD rates were much better than they are today.
Step 4, One month later the CC bill is due for $6,000, back to the casino to buy another $6,000 worth of gift certificates with his CC, cash them in and pay your CC bill from the original purchase. There's another 6,000 miles.
This would go on once a month for the duration of the CD. After the CD matures he made a couple $100 on the original $6,000 and earned himself a free flight anywhere he wanted to go.
Now I am not suggesting to do this but I think any frugal person reading this would appreciate this story.
Pass this on to those who may appreciate it.
Enjoy life, it's fun :)
