So it'd only be 40 trips to walmart for two $999 money orders?

It's a good enough idea, but it really doesnt seem worth it to me. Then again, I stopped buying coins because of the questions people would ask, rather than the bulkiness of transporting them.

Personally, I'd rather churn/apply for a couple creditcards.

 

I'd do that in a second if it were still available. A trip to walmart once a week or so, and mailing in deposits back to the debit card, for 80k miles? That's a pretty good deal to me. Then again, I live very close to a walmart.

No rule that says you can't do that and do other stuff like get credit cards.

 

+1 ^ (though WalMart is thankfully not at my back door )

I currently need to figure out how to charge $55k on my southwest visa which will get me enough RR credits for a companion pass under a current targeted promo.

If the processing fee is approx 3%, that makes this deal somewhat unattractive as I'd essentially be paying $1650 for the pass. However at 1%

 

<< So it'd only be 40 trips to walmart for two $999 money orders? >>


Yes, 40 trips to Walmart; each trip buying two $999 money orders. If you had the time to do it (I did), 80,000 miles ended up costing LESS THAN $27.

 

Different strokes for different folks, I suppose, but if I had the chance to spend $55K I wouldn't be doing it on a WN Visa. Would much rather earn 55,000 AMEX or SPG points.

55,000 SPG points is only 2500 AA miles short of a One Way ticket in CX F.... (among other things )

 

More on "square:"


http://latimesblogs.latimes.com/tech...re-paypal.html

 

Here is a cheaper way to 2 millions miles.

Charge $58000 then default your card. Wait till your deep into collections then settle for .20 to the dollar. Credit might be screwed for 2-3 years but who cares, your AA PLT for life with 2 million miles. As long as your wife/husband has good credit then it won't matter. 3 years latter you will be right where you left off, and now lifetime platinum.

Total cost $11600. Now that is a deal.

 

Square is really interesting stuff. It is about time! Next step is to put in some RFID payment standard into phones, but I bet it will take a while to get everyone on track.

 

uh.....and if they don't "settle," but decide to sue you instead ??

(and miles are only earned for accounts in good standing)

 

They will. Trust me I'm a banker. We don't ever want to go to court. If you show up and plead your case to the judge they will continue the case and ask the lawyers to go back and work with the client. This is a whole new environment we're in now. The courts are siding with the consumers more often now. We've been labeled the big bad wolf giving away money that people can't afford to pay back. Last spring you could call our bank and settle even if you weren't late. We were desperate to raise cash and write it off. Just to get into a court takes years right now and we don't have the staff or lawyers to process these case in a timely fashion. If your a lawyer we're hiring.

Oh as far as the miles you transfer them out into a program. There always a risk when doing things like this. You just have to have the stomach and a plan to execute properly. I'm not saying I would do this and mainly because I don't fly AA except when traveling to Venezuela. However if AA was my airline I just might consider it (assuming I had that large of limit).