Very neat CC rewards usage idea

[disneysteve]

Originally Posted by Bimmer

The CC company will only see where the purchase is made at, not what was bought. You can buy things besides money from the US Mint.

Exactly. I don't see how they could count this as a cash advance.

[simpleyme]

I just thought that was a weird line in my card holders agreement , makes me think they watch you a little more closely than I would like ;-)

how would they also know if you bought a money order or if the transaction was connected to gambling ?I thought just the amount was reported and the merchant code,not what you bought

[disneysteve]

Originally Posted by simpleyme

how would they also know if you bought a money order or if the transaction was connected to gambling ?I thought just the amount was reported and the merchant code,not what you bought

Can you buy a money order with a credit card? I think the post office only takes cash. Not sure about other places.

As for gambling, the CC companies stopped allowing those charges years ago when they passed the ban on internet gambling. Folks were using their credit card to fund their online gaming accounts at foreign-based internet casinos. Since the activity itself was made illegal, using your card for that purpose was also disabled.

[boosami]

Originally Posted by disneysteve

Can you buy a money order with a credit card? I think the post office only takes cash. Not sure about other places.

You cannot buy a money order or cashier's check with a credit or even debit card. Believe me, I've tried. Occasionally I have to buy something and it requires one of those forms of payment. I have tried at the PO and at that random supermarket kiosk. They only take cash.

You can do Western Union with CC, and I'm pretty sure that would be treated as a cash advance.

[all4money]

Thanks for the post. I placed an order for my mom who collects these coins. Now all she lacks is getting rolls of John Adams and Martin Van Buren... maybe those guys will be available some day with this offer.

[sweeps]

Steve, here's a followup to your idea: Free $250 Gift Card or $250 for Student Loans.

[mrpaseo]

DisneyDave,
I think it's time for an update on my experiance with his adventure. The short story is, it went exctly as planned.

The long story.
I purchased the maximum amount of dollars per coin ($500 dollars worth) for a total of $3,500. I tried to do a second order after these were received and the order was denied. With my experiance with the mint, you can not use a different credit card if you use the same address, you cannot use a different address if you use the same credit card. The only way to do a double order, is to get a friend or relitive to order the item for you (In my experiance it happens all the time). On certain items, I know of people getting parents, sisters, brother, uncles etc ordering for them.

I then took this $3,500 and depsited it into my local bank, then transfered it all to ING direct. No issues all around save for one lady at the bank did not enjoy taking the dollars in. The fix for that, we slowely brough them in over a few weeks time.

Some of the dollars are no longer available, however, an opportunity has presented its self to us this past week. With the 2009 Native American – Agriculture dollar coin, you can order up to $5,000 for this coin alone. Add to this the other dollars and you can order up to $7,500 ($5,000 + $2500 from other dollar coins) right now.

See available dollar coins here

NOTE: For the Native American Agriculture dollar they note:
For this special program:
*The United States Mint pays for standard shipping and handling of domestic orders. Any special handling will be paid by the customer.
*Orders are limited to twenty boxes ($5000) per coin issue.
*Specific coins are available only while supplies last.
*Please allow approximately 1-2 weeks for shipping.
*All sales are final.


The remaining dollar coins (Andrew Jackson, James Madison, Thomas Jefferson, John Adams, George Washington) they note:
For this special program:
*The United States Mint pays for standard shipping and handling of domestic orders. Any special handling will be paid by the customer.
*Orders are limited to two boxes ($500) per President.
*Specific coins are available only while supplies last.
*Please allow approximately 1-2 weeks for shipping.
*All sales are final.

Additional notes:

1. They pay shipping, this will cost you NOTHING except time.

2. They will leave these in your mail box or where ever your mail is dropped off. I suggest you watch for them (They deliver quickly, and they will not charge your cc until they deliver so you should know about 2 days out).

3. They DO NOT deliver to a PO Box.

4. They will deliver to your work, but your work address must be on your credit card account. I belive you can get this added to your cc if you call them and add the address.

Good luck, I hope this helps you all earn rewards and interest.
Ray

[Goldy1]

or I could just use a couple coupons at the grocery store and get a couple bucks in savings it's an interesting idea but one where your time is worth more than a couple bucks. lol
or I could charge more of my other itmes instead of cash. My rewards aren't as good as they used to be. I had a card a few yrs ago that literally was paying me 5% back at grocery stores. IT totally rocked, but now it's like 2% or less.

[sweeps]

Originally Posted by Goldy1

or I could just use a couple coupons at the grocery store and get a couple bucks in savings it's an interesting idea but one where your time is worth more than a couple bucks.

Why does it need to be an either-or proposition? $250 in free money is nothing to sneeze at.

[AlligatorBaby]

Originally Posted by disneysteve

No. TD bank, formerly Commerce, counts coins for free.

Do you have to be their customer?

[disneysteve]

Originally Posted by AlligatorBaby

Do you have to be their customer?

No. They offer free coin counting for everyone.

[disneysteve]

Originally Posted by sweeps

Why does it need to be an either-or proposition? $250 in free money is nothing to sneeze at.

Exactly. You order everything sitting at your computer and then just need to make a trip or two to your bank to deposit the coins. Not really much time or effort involved and it is totally risk-free.

[Bimmer]

My CC reward works on the premise that when you charge x-amount of dollars a year, you reach the "bonus" level of year-end cash back. 5% on grocery store, pharmacy and gasoline purchases (where we use the card the most anyway) and 1% on all other purchases (before reaching the bonus level, the %'s are 1 and .5). No restrictions on what you charge to get to the bonus level, just need to reach the dollar amount.

My credit union will take the coins as long as they are rolled. My wife participates in surveys and beer company rebate programs, so she gets checks in the mail often and visits the CU twice a month (no out of the way trips for the coins). I've placed my second order for $500 in coins.

This idea will get me to the bonus level much faster this year! Early guesstimate has it adding $150-400 to our reward at the end of year. Thanks for posting it here.

[disneysteve]

I got my first order of $250 coins today. I'll take them to the bank either Thursday or Saturday and see if they have any trouble taking them and post again after I do.

[boosami]

Circulated coins come in $25 rolls. Coming from the Mint, I wouldn't think banks would have to break down and re-roll the coins, so it should be a painless transaction.

I have all the current series of dollar coins, but in uncirculated form. I am holding onto them until I see how well this program is adopted.

[disneysteve]

I went to the bank today. They took the coins without question. I was in and out in under 5 minutes. Now I don't know that I'd walk in with thousands of dollars of coins all at once. I'd probably split it up into a few visits, or go to multiple branches (I have 3 within 5 minutes of my house).

I will definitely order more coins.

[sweeps]

Did they unwrap the coins or take them as is?

[Russell]

Originally Posted by sweeps

Why does it need to be an either-or proposition? $250 in free money is nothing to sneeze at.

How are you earning $250? My rewards cc only offers 2% so that would be $2.50. Additionally, my Citi card limits me to $300 in total rewards per year. Since I already charge everything I hit that limit pretty easily.

[sweeps]

Originally Posted by Russell

How are you earning $250?

See the link I posted above.

[disneysteve]

Originally Posted by sweeps

Did they unwrap the coins or take them as is?

They took them rolled.