With all the talk about "exercising" your credit, etc... If you have a 'rewards' card (or better, two of them), can you use Paypal to make payments between the two of them and rack up the rewards or miles? I have not used any Paypal type service, so I don't know what the transaction looks like. Is one a charge and the offsetting one a credit to the other card? If the 'payee' gets a credit to their account, would that deduct previously earned rewards? I think there are rules about paying yourself, if so leave that out of the equation, as one could easily pay back and forth between a friend.
Re: "Exercising" for We pay 19.47% APR on memberships of $1000 or more. A membership entitles the holder to 11 installments. Use PayPal and your purchase will qualify you for rewards. I have known of persons that have paid eachother through PayPal, the transaction appears as a purchase. I think abusing the service will eventually stop it, but as long as you have a different address, you and your friend should be able to bounce money back and forth. I think there is a service charge for credit card transactions, to the receiver. http://www.creditsense.com
