Here’s a thought that occured to me today during the drive home.

Everyone is familiar with credit cards.  Seems they’ve become an integral part of the American Dream, and one thing that all heavy credit-card users know about is “Rewards Cards”.  Typically in the form of frequent flyer miles, they simply give you money or rewards whenever you make a purchase (eg. Spend $10 and earn $0.10 or $0.1 back).  It’s a neat idea that sounds really good on paper, but usually doesn’t amount to anything significant for either party.

So what would happen if you got 2 rewards cards, and then continually shuffled the balance back and forth?  It would appear as though you were always making a big (say $2000) purchase and then paying it all off.  Could you cheat the system and rack up huge amounts of rewards for effectively no cost?  I’m sure you’ll have to wait at least a few days between shuffles, just to make sure the money actually appeared in all the right systems, but it seems pretty solid to me.

So, with an idea this simple… What am I missing?
[tag:scam][tag:credit][tag:reward]

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