The Standard Charted Manhattan Platinum offers quite a lot of perks such as
- Credit limit of up to 4X monthly salary
- 0% interest free purchase for up to 24mth from participating merchants
- Interest rate that can drop down to 12% a year compared to 24% of others
- Cash rebates that varies according to how much you use a month. Up to 5% for $3000 spending a month, ( capped at $300 a quarter)
We are to buy and sell something and pocket the 5%. And this 'thing' has to be very liquid and will depreciate very little in that short span.
One possible plan ( using the stock market) :
- Buy 6 lot of share at $1 each (which is the selling price) each=> pay $6000
- Immediately sell it into the buying price, which is lower, say $0.99. Hence you get back $5940.
- Including transaction charges ( around $70) and loss due to step 1 and 2, you would have lost $70 + ( $6000-$5940) = $130
- However due to the rebate of 5% of $6000, you get back $300.
- Hence total profit is $300-$130= $170
Any comments/ideas ..feel free to email me at email@example.com