CIBC Air Canada AC Conversion Card Ends
Manufactured spending is one of the vehicles travel hackers use to generate points. This is simply manufacturing credit card spending, instead of real spending to create transactions that generates points and later on to deposit the money back into the account.
I am not going into the detail of manufactured spending. The CIBC Air Canada AC Conversion Visa Prepaid Card was one of the easiest ways to create manufactured spending in Canada.
The AC Conversion card had a feature that let you load Canadian dollars from other credit cards and unload Canadian dollars from CIBC bank machines at no cost. This would create transactions on the credit cards you are loading from to generate points.
Initially the limit was $3,000 a day, then it was reduced to $2,000 a day. When card management found out what’s going on, they reduced it $100 per day because they were bleeding money paying other credit card fees.
In the interim, many people got points and miles millionaires utilizing the loophole. It was like a dream come true for travel hackers to easily generate points using the AC Conversion card.
However, now CIBC Air Canada AC Conversion Card has decided that they still can’t afford to give away $100 per days as they can’t recoup the expenses and they are closing the loophole beginning April 13, 2018. After this date, Canadian currencies are no longer allowed to load and unload. You can load other supported currencies, however. If you try to load other currencies and unload Canadian dollars, the machines will dispense US$. So it will no longer make sense to use this card to create manufactured spending and the loophole that existed for many years will be sealed.
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