Very neat CC rewards usage idea

[disneysteve]

Do you have to be their customer?

No. They offer free coin counting for everyone.

[disneysteve]

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]

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]

How are you earning $250?

See the link I posted above.

[disneysteve]

Did they unwrap the coins or take them as is?

They took them rolled.

[Slug]

Just a follow on to this thread...

Short version: I bought $1k in coin last week and executed this whole process with no problems. It was very simple. Worth a little over $20 to me. I'll try to repeat it in a month.

Long version: See my blog. \/

[Slug]

A further update. 3 months running now. No issues except for minor shipping delays. Easy $. No end in sight.

[lucmas]

Interesting! Not sure if that's for me, but I'll bet it's great for those who already have a Schwab One account. Thanks for sharing!
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[Slug]

8 months in now. And still no problems. Details here.