0% on purchases - how do I rack up charges?

galaxy105

MBNA are kindly offering me 0% on purchases until May.

Anyone got any good ideas on how to quickly rack up charges to make some money off it?

Last time I did this I got a company to charge my card and refund back to my current account thereby freeing up the cash.

They seem to have clamped down on this method this time around.

binaryuniverse

It seems what your suggesting is not a good idea. Charge your card and refund to your current account? Do you realise you can be done for money laundering in that case? Most companies will/should only refund back to the card you made the purchase on.
The ONLY way to make cash off this is by stoozing. Only make your usual purchases on your card (food, travel costs etc) instead of your current account whilst paying off the minimum and putting the money from our current account into your savings.

galaxy105

I was thinking of being a little more creative than just "money-laundering".

For example, the Royal Mint are offering £5 coins for £5.

royalmint.com/store.BritishBase/LUKC1.aspx

One could buy lots of those thereby racking up the purchases and then simply deposit into a bank account.

greenmantle

'plus 2.95 postage'??

lisyloo

I have a AMEX card on which I want to maximise money for cashback.
I do so by

using it for food shopping
using it for my husbands purchases, xmas shopping, petrol etc.
using it for business expenses
using it for joint meal/hotel bookings when out with friends/family/colleagues
using it for other people's shopping e.g. family when out Xmas shopping

I am having no trouble at all in hitting the limits

co123456

Running all my transactions this month (except for a £40 day out) through my Egg Money card for the cashback. Took a while for my brain to engage and get into a routine. Here are some ideas:

1. Council tax ..... plus if you're ever so cheeky..... overpaying your council tax and asking for it back.
2. Paying the minimum possible monthly Direct Debit amount to your phone company, thn topping up any shortfall with a card. BT do this.
3. Overpay your mortgage ...... then if your lender was like mine, ask for it back in cash. Ah.... Happy days.

td_007

cheeryoleary wrote: »

Running all my transactions this month (except for a £40 day out) through my Egg Money card for the cashback. Took a while for my brain to engage and get into a routine. Here are some ideas:

1. Council tax ..... plus if you're ever so cheeky..... overpaying your council tax and asking for it back.

Asking back may not work as they will probably credit it back to the card - if you get a cheque then ok.

cheeryoleary wrote: »

3. Overpay your mortgage ...... then if your lender was like mine, ask for it back in cash. Ah.... Happy days.

Pretty sure that you will not be able to pay mortgage directly with CC - the lender will not accept. Happy to be made aware of any exceptions.

Mozette

lisyloo wrote: »

I have a AMEX card on which I want to maximise money for cashback.
I do so by

using it for food shopping
using it for my husbands purchases, xmas shopping, petrol etc.
using it for business expenses
using it for joint meal/hotel bookings when out with friends/family/colleagues
using it for other people's shopping e.g. family when out Xmas shopping

I am having no trouble at all in hitting the limits

Is this the 5% for 3 months one? I've got that one too. I like the joint meals idea - I'm off on two xmas ones next week, so that's a great tip! Cheers:beer:

NickX

td_007 wrote: »

Pretty sure that you will not be able to pay mortgage directly with CC - the lender will not accept. Happy to be made aware of any exceptions.

People on the stoozing site are regularly making mortgage payments on their Credit Cards, although it does depend on the lender in question.

Full details (long read) can be found here :

http://www.stoozing.com/forum/YaBB.pl?num=1218039089

withnell

greenmantle wrote: »

'plus 2.95 postage'??

That's per order - so if you order 1000 coins, it's only a 0.06% charge

cashbackproblems

withnell wrote: »

That's per order - so if you order 1000 coins, it's only a 0.06% charge

Exactly. This is a actually good idea, will keep it in mind if i ever need the cash from my cc's.