U.S. Mint Grounds Frequent Fliers' Scheme Some frequent fliers were racking up huge amounts of credit card mileage rewards. They were buying tens of thousands of dollars in coins from the U.S. Mint. They would pay with credit cards, deposit the coins in the bank and then pay off the credit card balances. According to the Los Angeles Times, the mint changed the rules so those credit card purchases now are recorded as cash advances, which typically don't count towards mileage rewards.
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U.S. Mint Grounds Frequent Fliers' Scheme

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U.S. Mint Grounds Frequent Fliers' Scheme

U.S. Mint Grounds Frequent Fliers' Scheme

U.S. Mint Grounds Frequent Fliers' Scheme

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  • <iframe src="https://www.npr.org/player/embed/121402273/121402253" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Some frequent fliers were racking up huge amounts of credit card mileage rewards. They were buying tens of thousands of dollars in coins from the U.S. Mint. They would pay with credit cards, deposit the coins in the bank and then pay off the credit card balances. According to the Los Angeles Times, the mint changed the rules so those credit card purchases now are recorded as cash advances, which typically don't count towards mileage rewards.

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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