Buying Money

Yesterday in about 10 minutes I made $92.10 from purchasing money. For this you will need either a Chase Freedom credit card or Citi World Dividend card. Both have no annual fee which is great for building up your credit history, and both offer 5% back on purchases made at drug stores this quarter.

Steps:

1. Order an AMEX Bluebird card. They are free and do not affect your credit
2. Purchase Vanilla Reload cards from CVS, load each one with $500. Total fees will be $7.90. There are a number of Vanilla Cards – make sure to get the one that looks like this:

   

3. Load your Bluebird card with the Vanilla Reload cards (you can load $1,000 a day or $5,000 a month). Pay rent, car payments or bills for free with your Bluebird card or just use it as your daily credit card
4. Collect the 5% cash back The Freedom card (caps out at $1,500 in spend per quarter and the Dividend card caps out at $6,000 in spend annually). That $7,500 equates to $75 in fees and $375 cash back, netting $300 in profit for essentially buying money.

A word of caution. Don’t simply run out and buy these if you don’t use the cards for anything else. That could raise a red flag on your account. Instead, use the cards for some everyday-type of purchases. Also, it won’t hurt to add a pack of gum or something else to your purchase to avoid having the exact same charge on your card repetitively.

The Freedom Card actually yields Ultimate Rewards points, which are worth $0.01 each for cash-back – but I like to use them by transferring them to United, U.S. Airways or Hyatt, more than doubling the value!