
Recently an article on NPR.com titled “How Frequent Fliers Exploit A Government Program To Get Free Trips” explained how travel hackers were buying thousands of dollars worth of coins (with free shipping) on their credit cards, then immediately depositing those coins into their bank accounts to pay off the credit card – the end result was they were just buying free money, with free shipping, but everything was processed through their credit card of choice so they could rack up miles/points/cash back rewards.
Since this hack became exploited, the government has limited you to buying $1,000 worth of coins every 10 days – which you can do here. It includes free shipping, so at the very least, you can buy $3,000 worth of coins per month, which can translate into frequent flier miles or hotel rewards depending on the travel credit card you put it on.
This all got me thinking – what are other hacks or workarounds to buy things simply for the benefit of earning miles? I polled some co-workers who are either very financially savvy, such as my friend Jed who runs the blog Moneywinks, or travel a lot, such as my friend Eric who runs a travel gadget blog, to see if they had any additional ideas.