What's your favorite credit card?

[GREENBACK]

Funny. Actually, I've always suspected that my BIL and I were responsible for Discover changing another policy. They used to have a cap on the fee for using a convenience check, so the fee could be 3% if the amount was relatively small but it could be a tiny fraction of 1% if the amount was large. By BIL and I used to write convenience checks for nearly our whole credit limit on the first day of the billing cycle, pay a small fee, deposit the checks in our money markets, then earn a couple hundred dollars interest before we had to repay it. Then we'd repeat the process. Eventually, they caught on and removed the cap on the fee, making it a straight percentage regardless of the amount.

How did I miss this boat?

[disneysteve]

How did I miss this boat?

It was sweet while it lasted. Nothing beats using OPM - other people's money - to make more money.

Just another example of beating the CC companies at their own game.

[LivingAlmostLarge]

I did that as well before. But I hate to think I did abuse the cap. I think it was because it was school so EVERYONE used the 5% rebate and thus they capped it.

They haven't had the school since! Now it's only cheap stuff like travel, etc. When you can charge $20k tuition for one semester or $40k for a year no cap, well I have to laugh at parents who did what DH and I did.