If you have a credit card with an awesome cash back, rewards or air miles program, then brace yourself. What follows may be an opportunity for you to exact a bit of vengeance on credit card companies who have hit you with 29.9% interest rates, as well as over-limit and late payment fees.
The savvy deal hunters in the FatWallet Forums discovered over a year ago how to get credit card reward points quite literally for free. They take advantage of something called the Circulating $1 Coin Direct Ship Program offered by The United States Mint (that's our government's real mint, not the late-night TV fake mints that sell 9/11 commemorative coins and Obama memorabilia).
Here's how this particular grift works. "Currently, you can order either $250 or $500 in John Quincy Adams Dollar Coins from the U.S. Mint at FACE VALUE, with FREE SHIPPING AND HANDLING and pay with any major credit card," a user explains in the FatWallet Forums.
Are you with me so far? You pay for the coins using your credit card with the best available rewards program, say, 2% unlimited cash back in the case of the Schwab (Stock Quote: SCHW) Invest First credit card.
Net result? If you bought $1,000 in coins on your card and then immediately paid it all off, assuming you have 2% cash back, this means you just made $20 or more for only a few minutes of effort. In addition to that, you might also have accrued 1,000 points or air miles. The Mint gets its new coins in circulation, and you get a sweet reward -- everyone wins, except the credit card company (that's a change, isn't it).