4 ms·
How do they get away with it? I've seen credit card agreements where the company reserves the right to close the account and remove accumulated rewards. I'd thi
by chris11 11y ago
How do they get away with it? I've seen credit card agreements where the company reserves the right to close the account and remove accumulated rewards. I'd think it be really easy to flag those accounts and have the customers banned.
Edit: the comments talk about it more and it looks like those people were probably using multiple cards spread across multiple family members, or also using smurfs.
- ikeboy 11y agoMultiple cards, and ramping up slowly. Learn how to avoid flags.
- Spooky23 11y agoExactly. Plenty of people who employ illegals pay them with these methods, so if you ramp up you're not an outlier.
- dawhizkid 11y agoShut downs are pretty rare but do happen. Biggest mass shutdown I've heard of was with a unlimited 5% cash back card at drugstores, grocery stores, and gas stations. People would buy $100k+ a month in visa gift cards at CVS and net $4-5k a month in tax free cash back.
- kchoudhu 11y agoAh, the good old days of the BCE. That was a major breakdown in Amex's risk management.
- nommm-nommm 11y agoMany people do get shut down. Flight and hotel rewards can't be taken away because they post to your frequent flyer account at statement close.
- ghaff 11y agoIt's a hobby for some people at the cost of time and the risk that they'll miss some fine print and end up with gift cards or whatever that don't have any value. (Or they end up spending money to get rewards that they wouldn't have otherwise spent.) Far be it from me to criticize anyone's hobby. With good credit, it does make sense to have a few credit cards that provide incentives lined up with your needs and spending patterns--especially if you do a lot work-related spend. But beyond that, I can't personally be bothered.