Card Flipping

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BoofMan

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Hey guys
A friend and me are looking to get into Card Flipping, for anyone that doesn't know, card flipping is taking advantage of generous bank schemes. Like Bank's that give away free cash for signing up, easy loyalty rewards, get money for referring a friend, etc then taking all that cash in the account, transferring it to an anonymous account (maybe invest it into Bitcoin to make sure its anonymous and hard to track then re-selling it) and then closing the bank account and repeating the process. We are really intreasted but we don't know how to get started. We found online what card flipping is and a news post on things to avoid when card flipping but other then that we don't know where to start, what we would need and how to go about doing this.

If anyone thinks they can help out with this I'll be really grateful!

Thanks a lot!

P.S : We're based in the UK but I don't know if that makes a difference.
 
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just get someone to recommend you to a bank i think halifax offer £200

im sure its called stoozing did look into it a few years back have taken advantage of santander etc

just take advanatage of 0% offers and referrals
 
They are a TOS for switching mate, don`t need to be master on this.

You can`t switch current accounts for at least 3 to 12 months from the first switch. ( I`m not sure here but it`s a big number of days definitely )

Good banks for that in uk are: HSBC / First Direct ( sub-contractor of HSBC) , Halifax and NatWest i think.
 
You won't be able to repeat the process indefinitely as banks/credit card companies will keep records.

Also each time you take out a new credit card or open a bank account you will have a search recorded on your credit file.

Sounds like easy money but not as simple in reality.
 
Actually, I switch from fucking HSBC to Halifax a year ago and they give 125, worst mobile banking I`ve ever seen in my life HSBC have.
 
it is an easy £200-£300 per bank and you can keep doing the offers etc but takes time.

depends when banks offer an incentive
 
This is something that is workable, and a certain Martin Lewis advocates doing this.

There are several banks who will let you move bank accounts, then pay you a bonus to move to them. Often you need to have a salary or £xxxx a month paid into your account, also have 2 direct debits going out.

Cards are the same, you transfer from 1 card to another, using a zero rate interest offering, get cashback for doing so. Then just before your interest free period expires, move to a new card.

Going back 10 years ago, this was very easy money. banks have cottoned on a bit since and added extra terms such as direct debits.

Check the cashback sites for the best deal. Just be aware, credit checks will possibly impact your credit rating ( especially if you get declined ).

The easy switch system is meant to make it easier / quicker to move bank accounts.


Edit; " then taking all that cash in the account, transferring it to an anonymous account (maybe invest it into Bitcoin to make sure its anonymous and hard to track then re-selling it) and then closing the bank account and repeating the process"

Not quite sure what you mean by this, what do you mean you are re-selling?
 
MisterF said:
This is something that is workable, and a certain Martin Lewis advocates doing this.

There are several banks who will let you move bank accounts, then pay you a bonus to move to them. Often you need to have a salary or £xxxx a month paid into your account, also have 2 direct debits going out.

Cards are the same, you transfer from 1 card to another, using a zero rate interest offering, get cashback for doing so. Then just before your interest free period expires, move to a new card.

Going back 10 years ago, this was very easy money. banks have cottoned on a bit since and added extra terms such as direct debits.

Check the cashback sites for the best deal. Just be aware, credit checks will possibly impact your credit rating ( especially if you get declined ).

The easy switch system is meant to make it easier / quicker to move bank accounts.


Edit; " then taking all that cash in the account, transferring it to an anonymous account (maybe invest it into Bitcoin to make sure its anonymous and hard to track then re-selling it) and then closing the bank account and repeating the process"

Not quite sure what you mean by this, what do you mean you are re-selling?
Click to expand...


I mean taking the cash that I made from the bank account, buying bitcoin with it and then reselling the bitcoin to get cash again. I just suggested this because I i didn't know if it was illegal or not, but it looks like it isn't so I wouldn't have any issue moving the cash into a bank account and then keeping it there safely.
 
BoofMan said:
I mean taking the cash that I made from the bank account, buying bitcoin with it and then reselling the bitcoin to get cash again. I just suggested this because I i didn't know if it was illegal or not, but it looks like it isn't so I wouldn't have any issue moving the cash into a bank account and then keeping it there safely.
Click to expand...

It's not illegal at all, banks encourage new customers. Some will even allow you and your partner to have accounts, at the same address but obviously different surnames, emails etc.
 
BoofMan said:
I mean taking the cash that I made from the bank account, buying bitcoin with it and then reselling the bitcoin to get cash again. I just suggested this because I i didn't know if it was illegal or not, but it looks like it isn't so I wouldn't have any issue moving the cash into a bank account and then keeping it there safely.
Click to expand...
different banks offer different services and rates.

some credit cards may only allow you to have money on purchases and not on money so the 0% may not be worth it, it's worth checking out the mse site and see what offers are available like @MisterF said martin lewis on mse gives detailed instructions and there are people on his site talking about it.
worth checking what offers are there
 
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