U.S. Mint Grounds Frequent Fliers' Scheme
RENEE MONTAGNE, host:
And our last word in business today is game over. Some crafty frequent-fliers were racking up huge amounts of credit card mileage rewards. The scheme involved buying dollar coins from the U.S. Mint. They were buying tens, even hundreds of thousands of dollars in coins and paying with credit cards. They would deposit the coins in the bank and then pay off their credit card balances. Presto, as one frequent-flier put it on a blog - a painless way to get miles.
If you're hoping to do this yourself, too late. The scheme was in the news last week and folks at the U.S. Mint caught wind of it. According to the Los Angeles Times, the U.S. Mint has now changed the rules so that credit card purchases of dollar coins are recorded as cash advances, which typically don't count towards mileage rewards.
And that's the business news on MORNING EDITION from NPR News. I'm Renee Montagne.
ARI SHAPIRO, host:
And I'm Ari Shapiro.
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