Free Frequent Flier Miles Scam
 

http://online.wsj.com/article/SB1260...html#printMode

Order $1 coins from the US Treasury on your credit card (which earns you frequent flier points/miles). Upon delivery of $1 coins, go to the bank, deposit them, pay off credit card.

"...says his largest single deposit was $70,000 in $1 coins. He used several banks and numerous credit cards. He earned enough miles to put him over two million total at AMR Corp.'s American Airlines, giving him lifetime platinum-elite status..."

The catch was they were not charging shipping on the coins, so the only money spent was getting the coins to the bank. Treasury is now charging for shipping and limiting purchases to $1000 at a time...still might be worth it, but I'd hate to have it delivered to my house, UPS would leave the 'package' on my front step and goodbye $$!

Re: Free Frequent Flier Miles Scam
 

That's not a scam, that's working the system. Most CPAs and every tax attorney earns their living by looking for loopholes in the tax code for their employers.

Re: Free Frequent Flier Miles Scam
 

Read about this yesterday!... not a bad idea.

Re: Free Frequent Flier Miles Scam
 

'Scheme' then, not scam :D

Re: Free Frequent Flier Miles Scam
 

Hmm... thats brilliant, I bet they nerf that from earning you points soon now though.