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Maximum balance on credit card that will be credited to $0.00 on the statement date for free money


creditmonitor2010
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Topic is the maximum balance you can have on your credit card that will be credited to $0.00 on the statement date. Purpose for you is free money. One method with minimal work is to buy an Amazon gift card for the exact maximum amount. I'm not seeing a list on this site so we should have one.

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Calling for a volunteer to experiment on Discover with a new $2.01 statement balance.

In the days when B* existed but we didn't know how it worked, it took experimenting by people like BobWang and me to figure out the exact numbers. Other sites are nice. It's even better when we can verify the information ourselves.

If you have 10 credit cards that works with $1 each, that could be $120 free Amazon money a year. It may not be a lot of money for some people, and it could be a nice chunk of change for others. With the CB effect, it could be millions of dollars per year.

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I have to admit that I'm willing to put in exactly 0 effort.

I'll put in twice as much as you but complain 4 times more.

 

:rofl:

 

I know that Discover (as previously noted) will credit a small $$ amount, but I can't be bothered to time everything properly to get that from them each month.

 

I have an Apple card from Barclays that somehow started getting charged for my monthly Cloud fee of $.99. They then credit my account monthly for that same amount.

Good thing, too, since Barclays doesn't play nicely with my Quicken and I would likely forget to pay this charge (the only charge that card ever gets). I haven't bothered to test it at higher levels, because like Mendel and Hege, i can't be bothered. But for those who are keeping track .. add Barclays to the list.

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Another thing to test for is can this practice generate an account closure.

Every 3rd month I make a charge above the minimum balance which will be forgiven and make a payment before the statement cuts. For instance, I'll buy a $1.50 Amazon gift card and pay 50 cents before the statement cuts. Capital One then writes off the $1.00 remaining balance as a small balance credit. With Discover I make the gift card $2.50 and do the same thing.

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Another thing to test for is can this practice generate an account closure.

Every 3rd month I make a charge above the minimum balance which will be forgiven and make a payment before the statement cuts. For instance, I'll buy a $1.50 Amazon gift card and pay 50 cents before the statement cuts. Capital One then writes off the $1.00 remaining balance as a small balance credit. With Discover I make the gift card $2.50 and do the same thing.

 

Why do you include the payment step? Why not just get $1 (for Cap 1) or $2 (for Disco.) Amazon gift card and leave it at that?

 

You want to minimize the effort in putting activity on a sock-drawer card.

Edited by Buy49Get1Free
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Calling for a volunteer to experiment on Discover with a new $2.01 statement balance.

 

In the days when B* existed but we didn't know how it worked, it took experimenting by people like BobWang and me to figure out the exact numbers. Other sites are nice. It's even better when we can verify the information ourselves.

 

I can say from personal experience that no one should waste time GPing $2,733.90. I tried that in November of 2015 and they made me pay it.

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