| json_metadata | "{"app":"Musing","appTags":["money"],"appCategory":"money","appTitle":"What is an unusual way to earn money that most people do not know?","appBody":"<p>Here's one method that I've heard of: credit card churning.</p>\n<p>Basically, it's the process of taking advantage of the rules in the rewards programs of certain credit cards in order to gain money or other free rewards (e.g. airline tickets) at either no cost, or at a low enough cost that the person makes a net profit from the activity.</p>\n<p>One popular method of churning that I heard of (up until a few years ago when credit card companies and banks started cracking down on this practice) would involve people purchasing circulating coins from a currency mint at their face value, using a credit card that would give them cash back on all their purchases (typically 1-2%). Once they received their coins, they would take those coins to their local bank and make a deposit for the same amount as their purchase. After paying off their credit card bill, they would come out ahead by the 1-2% that they received in rewards, and begin the process all over again. The more money (coin purchases) someone could churn/cycle through, the more profit they could make.</p>\n<p>However, people who engage in credit card churning usually do it using multiple credit cards, and it can take a lot of effort just to keep track of all the transactions someone is making. Most of them say it's well worth the effort, though.</p>","appDepth":2,"appParentPermlink":"pke32p285","appParentAuthor":"fabioladiaz","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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