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Make money through Credit Cards - Yaper + Cred Mint

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metacoder

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This isn't new because you've got apps like Yaper that help you reach milestones.

But, let me show you how to take this a step further using Yaper, Cred Mint and HDFC BillPay.

I ordered two iPhones on Yaper and got back Rs. 1L cash in my account in return.

I had approximately 35 days to pay it back. So, I decided I could put it to use with Cred Mint and get 9% interest.

I take this further by using HDFC BillPay using my HDFC Platinum Debit Card and get back 1% cashback (I have 2 accounts).

So total returns I made:
Cash reward from Yaper - 500 * 2 = Rs. 1000
Cred Mint @ 9% = Rs. 740 (30 day interest)
Reward Points @ 1% = Rs. 1000

Total Cash in Hand = Rs. 2740 + Reward Milestones/Points

I like Cred Mint because it's easy to withdraw money from the App. It does take a few days, so I don't cut it close to the Credit Card Bill due date.
 
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metacoder said:
This isn't new because you've got apps like Yaper that help you reach milestones.

But, let me show you how to take this a step further using Yaper, Cred Mint and HDFC BillPay.

I ordered two iPhones on Yaper and got back Rs. 1L cash in my account in return.

I had approximately 35 days to pay it back. So, I decided I could put it to use with Cred Mint and get 9% interest.

I take this further by using HDFC BillPay using my HDFC Platinum Debit Card and get back 1% cashback (I have 2 accounts).

So total returns I made:
Cash reward from Yaper - 500 * 2 = Rs. 1000
Cred Mint @ 9% = Rs. 740 (30 day interest)
Reward Points @ 1% = Rs. 1000

Total Cash in Hand = Rs. 2740 + Reward Milestones/Points

I like Cred Mint because it's easy to withdraw money from the App. It does take a few days, so I don't cut it close to the Credit Card Bill due date.
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Is Yaper good? Since many people are with a lot of cards on this forum. Are many using Yaper to earn?
 
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CC_Fetish said:
Is Yaper good? Since many people are with a lot of cards on this forum. Are many using Yaper to earn?
Click to expand...
I don't think CC users are using it to earn, but the approach I described above makes up for some good money!

I've been using Yaper since last FY and haven't faced any issues until now. They process the amount within three days of the delivery of the product.
 
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metacoder said:
This isn't new because you've got apps like Yaper that help you reach milestones.

But, let me show you how to take this a step further using Yaper, Cred Mint and HDFC BillPay.

I ordered two iPhones on Yaper and got back Rs. 1L cash in my account in return.

I had approximately 35 days to pay it back. So, I decided I could put it to use with Cred Mint and get 9% interest.

I take this further by using HDFC BillPay using my HDFC Platinum Debit Card and get back 1% cashback (I have 2 accounts).

So total returns I made:
Cash reward from Yaper - 500 * 2 = Rs. 1000
Cred Mint @ 9% = Rs. 740 (30 day interest)
Reward Points @ 1% = Rs. 1000

Total Cash in Hand = Rs. 2740 + Reward Milestones/Points

I like Cred Mint because it's easy to withdraw money from the App. It does take a few days, so I don't cut it close to the Credit Card Bill due date.
Click to expand...
I hope you aware of the risks involved in P2P lending. If you wont get your principle back before due date for any xyz reason and you dont have the money to pay the CC dues then you will be doomed with penalties and huge amount as interest payment. Better to stick with savings account for such short term periods. Its not worth the risk IMO. Even if you dont agree with me, i would like to make everyone else aware.
 
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bhavyegoel said:
I hope you aware of the risks involved in P2P lending. If you wont get your principle back before due date for any xyz reason and you dont have the money to pay the CC dues then you will be doomed with penalties and huge amount as interest payment. Better to stick with savings account for such short term periods. Its not worth the risk IMO. Even if you dont agree with me, i would like to make everyone else aware.
Click to expand...
One time my order was refused at the time of delivery and so I had to pay the bill out of my own pocket.

So, Yes. It's a risk. Eventually my cash was refunded and the only loss I had to bear was time.
 
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metacoder said:
One time my order was refused at the time of delivery and so I had to pay the bill out of my own pocket.

So, Yes. It's a risk. Eventually my cash was refunded and the only loss I had to bear was time.
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You took it wrong. I am not talking about payment at Yapers side but Cred mint. P2P lending has huge risks involved. You may even not get your principle back.
 
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bhavyegoel said:
You took it wrong. I am not talking about payment at Yapers side but Cred mint. P2P lending has huge risks involved. You may even not get your principle back.
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Despite the risks, only people with a good credit score can borrow Cred Cash from Cred. So, I believe there are risks, but it should be lower than other P2P lenders.
 
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Problem isn't just whom cred is lending to, its a cred itself. Normal savings a/c or banking investment has insurance of 5 lacs.

There is no insurance for cred flunking you. Like stockmarket, play with money you can afford to lose, not with what you will need to pay bills.
 
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metacoder said:
I don't think CC users are using it to earn, but the approach I described above makes up for some good money!

I've been using Yaper since last FY and haven't faced any issues until now. They process the amount within three days of the delivery of the product.
Click to expand...
I am really confused how ordees are delivered without customers number... They are not giving the customers number... I have to enter my number.... And these days... The delivery boy surely call before delivery.... And mostly they call from numbers on which only we can call from the number which is entered at time of order and also there is some pin to enter to connect to delivery boy
 
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Batmanbaba said:
I am really confused how ordees are delivered without customers number... They are not giving the customers number... I have to enter my number.... And these days... The delivery boy surely call before delivery.... And mostly they call from numbers on which only we can call from the number which is entered at time of order and also there is some pin to enter to connect to delivery boy
Click to expand...
They have settings with local delivery hubs!
 
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Batmanbaba said:
I am really confused how ordees are delivered without customers number... They are not giving the customers number... I have to enter my number.... And these days... The delivery boy surely call before delivery.... And mostly they call from numbers on which only we can call from the number which is entered at time of order and also there is some pin to enter to connect to delivery boy
Click to expand...
Purchasers are mostly big stockiest/retail shops, a very regular and repeat delivery location. And like mentioned above, they also share malai with delivery hub people.
 
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