Thread: Free Money Free Money Free Money

The people who do not know me are probably thinking they have a spammer, but no, this is free money from our government, but it does take some effort.

Here are the steps-

1. get a cashback cc. Some are giving 2% on purchases right now, the higher the better. If you get 6-12 months interest free, even better.

2. go to usmint.gov. Order 10k or more of the $1 direct ship coins ( I think that is what they call them, look around). They do have limits of how many you can buy of different sets etc. but 10k is easy to do.

3. deposit money in bank after it comes and pay off the cc bill when it comes.

BTW- this information is relevant as of one month ago, if it has changed, then that is on you. Do your due diligence, and do not try to blame me if something goes wrong.

First the downsides- 10k of coins will weigh 300 lbs or more. I honestly do not remember exactly how much, but it weighs a lot. Due to weight, it will take a few trips to the bank, so this can become a pain in the butt. Your local bank that you have built a relationship with may not appreciate your money making venture due to more work for them and it could damage your relationship a bit. Your mailman will hate you. Sometimes it takes them about a month to send your shipment, but they do not charge until they ship.

The upsides- assuming 10k purchase, min 1% back, you just made $100 for an hour or two of work depending on how much time it takes you to deposit in the bank. If you have a 12 month interest free card, you also just gave yourself an interest free loan to pay down LOC's or whatever for the next year. As of my last order, direct ship coins were shipped for free. Basically, you are getting a free cash advance, plus the cashback at a minimum.

Granted, this is classic slowlane stuff here, but if your budget is on the bubble, this could push you to the positive. If you need CC's to do your next deal, this will allow you free cash advances.

Full disclosure- I have ceased this, too much of a pain to make the bank trips, but I have a friend who made over $500 in August. I have not spoken with him since, so no idea what September did for him.

Good luck. I hope someone can use this!

Lol. This is creative, I don't think many people HERE will do it, but it is something I can definitely pass along to a college friend. Thanks.

The problem is that shipping 300 pounds worth of coins is going to cost you all of $100.

I have a good friend who is in management of a credit card customer service call center. She already knew this because it doesn't work like you think. You are getting a cash advance.. it's not a purchase.

You better add that you can't have a balance on your card when you do this. Because if you have $5k at 9% and $0 cash advance balance then you make a cash advance "purchase" for money at $10k at 20%. After you deposit the money and pay $10k to the credit card company... the first $5k will pay off the $5k at 9% then the next $5k will pay off $5k at 20% leaving you with a balance of $5k at 20%.

This is viewed as a cash advanced and all the fees are associated with it. You do not get the 2% cash back on it as it's not a purchase.

They get many people doing this.. usually after someone blogs about it. They aren't able to get out of the fees.

I hope it really worked for you and your friend. Let us know.

Originally Posted by hatterasguy

The problem is that shipping 300 pounds worth of coins is going to cost you all of $100.

You did not read thoroughly. As of a month ago, it was free shipping.

Originally Posted by WildFlower

I have a good friend who is in management of a credit card customer service call center. She already knew this because it doesn't work like you think. You are getting a cash advance.. it's not a purchase.

You better add that you can't have a balance on your card when you do this. Because if you have $5k at 9% and $0 cash advance balance then you make a cash advance "purchase" for money at $10k at 20%. After you deposit the money and pay $10k to the credit card company... the first $5k will pay off the $5k at 9% then the next $5k will pay off $5k at 20% leaving you with a balance of $5k at 20%.

This is viewed as a cash advanced and all the fees are associated with it. You do not get the 2% cash back on it as it's not a purchase.

I used three different companies, and all treated it like a purchase, no cash advance fees. My friend uses multiple companies as well and has never been hit by the cash advance fee. You are purchasing money, you are not getting a cash advance.

What company does your friend work for, because in my experience her info is erroneous.

Once again, this is slowlane, but I also know there are some newbies here as well as some who are on a financial bubble that this could help.

Originally Posted by kurtyordy

I used three different companies, and all treated it like a purchase, no cash advance fees. My friend uses multiple companies as well and has never been hit by the cash advance fee. You are purchasing money, you are not getting a cash advance.

What company does your friend work for, because in my experience her info is erroneous.

That's funny.. when I read your post to my friend.. that's what she said about you. It's a big bank who handles big cc accounts for other companies too. Keep us posted in a few months and let us know if the fees changed. You may have hit a loophole and they haven't caught it yet.