Big income from Casback C/C is it possible?

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Jut though if it was possible to make transfer of money from my cashback card to some account without it is being shown as cash advance but a purchase - so no cah advance fee/interest was charged and to do it many many times and make up a high ammount of money from it. The only option I was able to think off wasto get 5% cashback card from Amex and transfer money to PayPal account and pay off c/c balance in full with the same money, however paypal charges over 3% per this kind of transaction and that would still be fine if not a maximaum limit of £100 you can get a cashback from this Amex deal so a proffit of around £25 makes it no worth of hassle. I have a cashback card with 1% unlimited cashback but how do I get away with transfer being shown as a purchase ? Any ideas ?

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  • jonesMUFCforever
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    It can't be done or we would all be doing it wouldn't we!
  • opinions4u
    opinions4u Posts: 19,411 Forumite
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    I did make £1,000 a year in cashback on my Halifax card for a period. And around £2,000 a year in Goldfish points. I still have 20,000 unspent airmiles and also got £2,000 of points of a Vauxhall car.

    This was via a matched betting system that involved 20+ bookmakers and deposits via credit card and one hell of a big turnover of funds.

    Alas, the modest 0.5%-1.0% of profits made on the betting became worthless once the credit card industry started treating gambling transactions as cash advances and charging fees of 2.5% plus. Then the bookies closed in on me and reduced my maximum stakes by 95%, meaning the profit wasn't worth the effort anymore.

    So in answer to your question, nothing that will make it worthwhile today. It was damned good while it lasted!
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