Thread replies: 6
Thread images: 2
Thread images: 2
File: o78k5fogx5g3hdy6peai.jpg (32KB, 450x338px) Image search:
[Google]
32KB, 450x338px
Can I start a "business" and get a credit card reader and charge myself to my card thousands of dollars for services that I do (like landscaping, cleaning my house, pressure washing my driveway, etc), then pay the bill with my own money over and over again to rack up cash back and flyer miles?
>>
>>1222574
No, because credit card companies charge you a 2-3% fee on each transaction.
>>
Tax.
>>
>>1222574
You probably could but you'd have to pay tax on the profit, I'm pretty sure you'd lose at least 15% of the money, so unless you find a credit card that gives you back 16% of what you spend, good luck turning a profit
>>
File: 1461940664360.jpg (52KB, 499x499px) Image search:
[Google]
52KB, 499x499px
>>
I remember something similar where you could buy money from the US Treasury on a cc, deposit the money and then pay the cc company. They've closed that loophole now.
Thread posts: 6
Thread images: 2
Thread images: 2