Wednesday, June 23, 2021

Credit card money

Find a credit card that offers 5% cash back on purchases. Buy $1,000 gift card for one dollar at the store using the credit card and use the $50 to buy a $1,000 money order at a cost of $5. Put the money in your bank account and use that to pay the credit card bill. You just made $44 and it is tax free. Sound crazy. US physicist Konstantin Anikeev, did just this and made $300,000 last year. This could become a full time job. Use a dozen cards and make a dozen transactions every day. I find this interesting because most of the complicated investment products were developed by physicist working for the big investment companies.

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