Question on redeeming rewards and returning products

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elite-fusion
 
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Question on redeeming rewards and returning products

Postby elite-fusion » Fri Apr 04, 2014 10:21 am

Hey guys,

Just wondering how it would work if I were to get a credit card, place an order on it to buy a few things to reach the limit needed, get the points, redeem the points for something, then in a year go and return the purchased items and close the card, would that work? and if so, how would that work?

Please advise :)


linuxmachine
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Postby linuxmachine » Fri Apr 04, 2014 3:00 pm

elite-fusion wrote:Hey guys,

Just wondering how it would work if I were to get a credit card, place an order on it to buy a few things to reach the limit needed, get the points, redeem the points for something, then in a year go and return the purchased items and close the card, would that work? and if so, how would that work?

Please advise :)


I know someone who bought refundable plane tickets and cancelled them a few months later and got the reward. I'm not sure what you can buy that you can return a year later, but I'm guessing it's the same in principle. You might get blacklisted in the future if you re-apply for cards within the same bank, but it's the risk you take.

takeshi
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Postby takeshi » Mon Apr 07, 2014 8:07 am

linuxmachine wrote:I'm not sure what you can buy that you can return a year later

IIRC just about anything from Costco.

rockyrock
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Postby rockyrock » Mon Apr 07, 2014 8:46 am

elite-fusion wrote:Hey guys,

Just wondering how it would work if I were to get a credit card, place an order on it to buy a few things to reach the limit needed, get the points, redeem the points for something, then in a year go and return the purchased items and close the card, would that work? and if so, how would that work?

Please advise :)


My guess would be they won't let you close the card while you have a pending return credit. Depending how fast they reconcile points they could in theory charge you for the points if you don't earn them. Amex used to let you go in the hole--maybe they still do, and if you didn't earn back in a certain time frame they would charge you.

Why not just go into a store and just steal whatever you want? It's a little more direct and riskier but that is essentially what you are describing.
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benhollberg
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Postby benhollberg » Mon Apr 07, 2014 8:55 am

takeshi wrote:IIRC just about anything from Costco.


Very true. Once I returned some unused shoes that were a gift from somebody to Nordstrom. They were a gift that were sitting in my closet for at least 1.5 years. Returned no problem, credited to my AMEX (which wasn't even used to buy them).
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