Hobby to Profession - Credit Card Millionaire

I never thought money making could be so easy, and by sitting at home and little bit juggling with the Credit cards we could be millionaire. I knew many of my friends, who have many Credit cards in their wallet, and they smartly manuvere them to take certain advantages. But juggling cards to be millionaire is getting over my head. However "no smoke without fire" this is easily possible with some brain work.

The easy way is to make use of gift cards and points that credit cards offer. Generally, the credit card user, get some rewards points when making credit-debit card payments. And by making proper use of this points one could easily make a good wealth. But for that we need a sharp.mind on the head to juggle through credit cards, rewards points or gift cards to generate proceeds.

For instance, we would get $25 as a reward on the purchase of a US $500 gift card on the basis of 5 per cent. To encash the gift card, we would need to pay $6. He would then be left with US $19, which would be his profit.

What looked to be impossible was made possible by a USA physicist. He smartly made use of the gift points to earn handsome money. It is close to 7 figure value in INR and close to $ 300,000.

Konstantin Anikeev started buying a large number of gift cards with his credit card. He use to buy a gift card and then encash it. He would then deposit this money back into his bank account and then pay the credit card bill. The rewards he received during this time would be his earnings.

What used to be a hobby, transform into a nice earning source. When pulled into the lawsuit for the source income , he smartly defended the case ,:

Anikeev arrived at the court with gift cards in a tub. he said that these were not his earnings instead the discounts and rewards given to him by the credit card companies.

According to the court, who ruled the case I Anikeev favour "court said that gift cards are like property and rewards (Credit Card Rewards) received on the purchase will not be taxed".

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So ultimately, these money is not taxable too. Making it a complete legal form of money.

In India, we do lack the privilege of getting so high reward points, but when Anikeev could easily do that why not other people too who are using multiple Credit card. Afterall who doesn't like to have another source of easy income.

Peace

Namaste @steemflow