I go to store and I have two credit cards on me, both at zero balance. I purchase 500 dollars with credit card A then decide to go home. I return to the store later on and ask for a refund on my purchase, however I put the refund on Credit card B. So now my statements will look like this: >store: 0 >Credit Card A: +500 >Credit Card B: - 500
I decide to go to atm and withdraw the credit that is on credit card B, bringing the balance to 0. I then use the money to pay off credit card A.
Is there any legal issues with doing this, and if so what are they?
Jaxson White
Show tits or dick then we'll help fag
Noah Lewis
the only conflict i see here is if they process the refund using a different card. normally they refund the purchase back into the same used card
Mason Anderson
If I was able to get the refund on the other card though there would be no legal ramifications on my end, correct?
William Bailey
What dodgy shit are you up to OP?
Nolan Wilson
nothing wrong with the transaction overall, theres no legal ramifications to it since it all looks like money coming in and out, business as usual.
before you do this, check how much your interest rate is for withdrawing physical funds from card B.
Mason Parker
Money launderer detected
Aaron Roberts
There would not be any interest rate since it would be money that Credit cars B would owe me.
Christian Hernandez
Nah they are both legit credit cards under my name
Anthony Harris
you have a zero interest cash back credit card then? Or are we talking about just a chequing account?
it may also be beneficial for you to look into a balance transfer instead. Again, better to peruse through the terms and conditions of the card you're going to do this on because if we're talking a run of the mill regular credit card, you're looking at a 24% interest rate on cash backs and you'd actually be LOSING money for doing a run around of the money to pay a credit card using another credit card.
Remember, a credit card doesn't have a starting balance of $0.00 because that would mean you have no money in it. you need to have enough funds to purchase things as well as cover the interest rate for withdrawal on an ATM for exact amounts.
Julian Myers
Yes I've previously received cheques from Credit Card B and have not been charged interest. However those refunds were purchases made on Credit Card B that I had returned, after I had paid the balance on the card.
The reason why I ask is because I get certain points on credit card A. So if this is legal, then I'll spend 11000 dollars on credit card A to get a shit ton of points
John Wilson
good to know the context.
You're in the clear. There's a lot of things you can get away with for using credit cards - this is definitely one of them. its more of the fees associated to said actions that make it questionably worth it or not.
Jaxon Bailey
Stores will either refund it back to the credit card that was used for the purchase, or offer an store credit card. They will not be able, nor willing, to refund the money to another credit card that wasn't used for the purchase.
It will still not work if you split the bill between the two credit cards, as the refund will go back to both credit cards as shown on the purchase/receipt.
Jason Miller
Why though? What do you benefit from this?
Colton Kelly
It's not possible. They would not put money onto a card that wasn't used for the purchase.
In case you ask why. Money laundering regulations. Which is clearly what you're comtemplating
Jack Jenkins
resetting interest free periods I'm guessing
Ryan Morris
Boosting credit score. I think.
Brody Stewart
Just get a fucking job, neet
Bentley Ward
This. Your only chance is to: >convince them to give you a refund in cash, which is unlikely >get a refund in store credit, which you then sell
But you could just as easily convince people to give you cash in exchange for you purchasing things for them. Same result.
Bentley Parker
Thats not possible you fucking idiot... Thats not how it works... Wow... You are special eh?
Brody Cooper
I've found a store that will put it on a different card lol. They use an outdated POS system.. Ive done it in the past, but not with the amount that I'm thinking of doing (long term)
Nolan Wilson
I am able to get a reciept if I purchase something online that WILL just say credit was used for this purchase. The reciept will NOT give any information on the credit card. That is why I'm asking this question because I've found an company that I'll be able to do this.
Bentley Morgan
Read
Leo Rivera
I've got a job but if I can get an additional 15k worth of points for free then why wouldn't I take it?
Dominic Thompson
Some people call this gaming the system, others call it fraud. Check the Terms and Conditions of your card(s) before you put yourself in line for some jail time. Bankers may seem a dull lot but they are quick learners. If someone else has exploited this trick you can bet they will have banned it in their Ts and Cs.