In a post-bailout world, U.S. taxpayers might think they're justified in squeezing the government for their own benefit. Finding IRS loopholes seems logical. But The Wall Street Journal is reporting on a strategy involving the U.S. Mint and frequent-flier miles.
Apparently, mile collectors used credit cards offering miles to purchase loads of $1 coins from the Mint, which paid for the shipping. "They then used the coins ... to pay their credit card bills. Their only cost: the car trip to make the deposit," reports the Journal. Meanwhile, they'd earned points from their credit card companies.
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One flier claimed to have parlayed the process into perks from AMR Corp.'s
Do you wish you'd caught on before the Mint cracked down? Have you seen George Clooney's new movie, Up in the Air, about a corporate-downsizing expert on the cusp of 10 million frequent-flier miles? Was it worth the price of the ticket?
Talk it up in the comments box below. For each post, the Fool will donate $0.10 to the Thurgood Marshall Academy in Washington, D.C., in furtherance of financial literacy.
Fool online editor Kris Eddy owns no shares of any stocks mentioned in this article. Discover Financial Services is a Motley Fool Inside Value recommendation. Try any of our investing newsletters free for 30 days. The Fool has a disclosure policy.
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