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Joined:
November 2005
Posts: 1126
Location: Omaha, NE | I own my own company, and we put tons of stuff on our corporate card...typically around $25,000 per month. So, I've got hundreds of thousands of reward points.
The problem is the stuff in the rewards catalogs isn't what I want. What to do?
Well, I found that I can buy Home Depot gift cards at the rate of one point per penny. That's great, but I really don't need that much from Home Depot these days either.
BUT...I also discovered that there is a robust market for gift cards on eBay. So, I sell my points for gift cards, then turn around and sell the gift cards on eBay. By the time the smoke clears, net of all transaction costs, I should get around 85% of face value to me. The buyer gets a great deal...an automatic 10% (ish) discount just for buying the cards. On a large project, you could save hundreds with this approach.
Thought I would pass it along. |
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Joined:
March 2002
Posts: 14842
Location: NJ | Why not turn it 'em into AirlineMiles & come to CT?? . . . |
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Joined:
January 2002
Posts: 14127
Location: 6 String Ranch | I used to do the same thing, aircraft maint would rack up 20,000 points a month. This was 5 years ago. I flushed them all out for the kids.
Now how do you report all the extra money on your taxes? |
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Joined:
November 2005
Posts: 1126
Location: Omaha, NE | I thought about that. But in the end, its schedule and not cost that's keeping me away this year.
Next year! Next year! Next year! |
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Joined:
March 2002
Posts: 15682
Location: SoCal | don't talk to me about taxes...... |
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Joined:
November 2005
Posts: 1126
Location: Omaha, NE | Originally posted by cwk2:
Now how do you report all the extra money on your taxes? I just stuff a bunch of gift cards in an envelope to the IRS. |
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Joined:
January 2002
Posts: 14127
Location: 6 String Ranch | guitars
they appreciate taxfree! |
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Joined:
November 2002
Posts: 3666
Location: Pacific Northwest Inland Empire | Yeah, I appreciate, and I'm not on a schedule!
Um, that's not relevant? |
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Joined:
August 2005
Posts: 3736
Location: Sunshine State, Australia | Relevancy is irrelevant on ANY OFC thread. |
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OT : Nifty little trick