With all the posts about credit card sign up deals I'm surprised no one has brought the the topic of manufactured spending (where you buy the equivalent of cash purchases on your credit card to get the points)
Doesn't really seem to be possible in NZ - the TAB use to be one avenue but they've closed that loophole down now with both a credit card surcharge and a requirement to bet any deposits made with a credit card before you can withdrawal it as cash
Mylotto works (although there is a clause in their T&C's which doesn't allow it). Only problem is they limit you to $150 a week so you're not going to be getting a lot of airpoints doing this.
supermarket gift cards/xmas club etc?
xmas club - I like this one, no fee, but you can't exchange it for cash - double down on rewards with some though.. hmm
Warehouse Stationery has something similar to an xmas club for parents buying their children's stationery. From what I've been told if you put $5 on this card one year then the next year you can get 5% off all purchases there (over $5).
pac n save does a good one also I think
They are all pretty much the same. You save up money into the 'club' and get 5% off purchases in December-January.
Warehouse Stationery's program is unique in that you only need to save up $5 and you get 5% off all purchases in the back to school season.
Casino? I've heard that's how some people launder their money.
Most (all?) cards exclude casino/gambling purchases from the bonuses (Airpoints, cashback, etc.)
Interesting….. I'll have to check whether I get airpoints with the online sports sites I put on my credit card
I do a bit of matched betting - not really gambling and not risk free as they claim. There's a lot of work involved in finding the right odds, trawling through the fine print so you don't get caught up with special conditions, and jumping through hoops to get ID verififed (Australian sites are the worse) but it's still a rewarding hobby.
Deposits to the sites are all done via credit card. It would be nice if I got airpoints for them but then 90% of withdrawals are back to the credit card so that offsets any airpoints I would have received. (if I'm doing this matched betting thing right, my withdrawals should be higher than my deposits!)
How much money are you saving this way? Or is it more the thrill of it?
Google Manufactured Spending it'll be much easier than one of us explaining it
Does the 'cashout' facility on the Countdown self checkout work? Can't see how they'd know if it's a cash advance or just groceries. Haven't tried it myself.
When ever you do a cashout through EFTPOS it tells the bank whats a cashout and whats a purchase. Most, if not all credit cards will decline the transaction if you try do a cashout via an instore eftpos terminal. Have to use an ATM, which will defeat the purpose. (interest from day one and no points)
Never have really thought about this.
What about something like mylotto?