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Credit Card Hacking Actually Works??

Recently I listened to a podcast about credit card hacking for traveling, How some cards will give you 1,000 points for simply opening an account with their airline. I don't travel much myself but it got me thinking about the other ways to credit hack.

My sister wanted to purchase a new wood floor for their house. I didn't know this but those are actually very expensive, around $1,800. I had just opened a new credit card with my bank in the hopes of getting the $300 bonus sign up for spending $1,500 in the first three months of getting the card. So I bought my sisters wood floor for her, she paid me the $1,800 dollars back the next day, I used it to pay off the card, and boom $300 was sent to me. Easy right? Almost too easy...

Now the downside to doing this is that your credit will take a small hit. Now my credit score currently sits at about a 780 which is pretty good for someone with very little credit history. When I opened the new account it only dropped my credit score by four points, which hen bounced back when I made a payment on my student loans. So after this free $300 I though about what other ways I could credit card hack.

As I posted about earlier in the blog, my contract job pays my gas. Now they don't give me a company card for gas, but they do reimburse me for it. This got me thinking; can I use credit cards and earn rewards and keep the rewards? I opened a few smaller cards and got the sign up bonus's very quickly, because well...I use a lot a gas. On average I spent about $500 a week in gas. This has given me about $450 in rewards on cards so far. If only I had thought about this sooner!

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