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Wise Man Earns 4'000'000 Airline Miles Buying $1 Coins

A genius earned thousands of credit card mileage points by ordering coins online, placing them back in his saving account, and repeating the process. Check out his incredible story.

Photo Courtesy of US Mint Pressroom Image Library ~ "Instead of going gaga swiping his card, Brad collected an incredible 4 million airline miles by buying $1 coins. It goes back to 2005 when the United States government created the Presidential $1 Coin Act. The initiative was to introduce $1 coins into the American currency, wherein one ordered the dollar coin on the U.S. Mint’s website. The Mint would then ship the coins for free. The catch was that the $1 coin could be bought using credit cards. What abetted Brad from making the most of this loophole was using his rewards card to purchase massive quantities of $1 coins.

The money purchased helped up the reward point meter while the coins went straight to his bank. The deposited money obviously settled his credit card statement. Whoever said going around in circles is a bad thing? Certainly not when buying oodles of money grants you oodles back to pay the card off. The process continued until Wilson finally bought a whopping $3 million coins over the next few years using his American Express Starwood card. The benefit here was that one reward point was gained for every dollar spent, and Brad had a fabulous 3 million." ~

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