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A Million Credit Card Points

Discussion in 'Offline Marketing' started by EvilEmperor, Dec 8, 2011.

  1. EvilEmperor

    EvilEmperor Jr. VIP Jr. VIP Premium Member

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    Greetings,

    I would like to tap into the creative minds lurking in this hive of genius.

    My aim is to find a way to use my credit card to pay for supplies so that I earn all the points and then I can use them to convert to air miles.

    The problem here is that my customer does not accept credit card so I have to wire money to them every month. I figure that if he could accept credit cards, I would be rolling in a million or more worth of credit card points :)

    Some ideas I have explored:

    Paypal - they don't have a company paypal account nor do not want to set one up (because of the fees paypal takes and conversion)

    Setting up a company in that country and hooking it up so that "my" company accepts credit card. The pay using my credit card and then I can send them the money locally. But the cons is that it's a hassle to setup a company with the fees and audits, etc. Seems more trouble than it's worth.

    What I am considering:

    Western Union - I still need to research this and am not sure if my customer will accept WU (again, fees and exchange rate difference)

    Asking my credit card if they can do the wire for me and debit my card. I then proceed to pay them all the money. That way I earn all the points through the credit card.

    Swiping my own card through my own company and wiring the money (now that kind of sounds interesting as I would have complete control over everything)

    If anyone has any ideas or comments, please post here.

    Thank you!
     
  2. boom1

    boom1 BANNED BANNED

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    be in control, swipe your own card then wire
     
  3. BreakAllTheClocks

    BreakAllTheClocks Regular Member

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    The points they give you come out of the 2.5% they charge the merchant.

    Setting up a merchant account to pay the 2.5% yourself to get 1% back in points is a losing proposition.
     
  4. EvilEmperor

    EvilEmperor Jr. VIP Jr. VIP Premium Member

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    I did figure that out. The only way is to see if they would reduce the 2.5% and apparently they will if you hit certain targets.
     
  5. schwagoo

    schwagoo Jr. Executive VIP Jr. VIP Premium Member

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    Yep. Someone has to pay the fees.
    Tell your vendor that you need them to accept a
    Credit card or you will be taking your business elsewhere.
     
  6. EvilEmperor

    EvilEmperor Jr. VIP Jr. VIP Premium Member

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    That's the problem - my vendor does not accept credit card. And it's hard to find a supplier like the one I have now. Any other ideas?
     
  7. EvilEmperor

    EvilEmperor Jr. VIP Jr. VIP Premium Member

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    Managed to find a vendor who can do it at 1.8% - so with that I think this can work.