Shared Economy Business That Can Make You $100k A Month
You Can Make Big Money for Your Unused Credit Card Points.
Just about every credit card offers rewards for the money you spend on your favorite goods and services, whether it be merchandise, cashback or air miles. Getting something just for spending cash. It sounds like a dream come true, right?
Not so fast!
The issue is that many people don’t take advantage of all the perks offered by their credit cards, especially when it comes to earned air miles. In fact, there are estimates that state that over 20 trillion frequent-flyer miles have been left unused. That is basically like throwing money into the trash bin.
So why wouldn’t someone sell their air miles? Some people simply let their miles expire. Others leave them to the side because they think they will never add up to a decent reward or they feel like the award seats that they really want are never available when they need them.
These unused miles are considered the dirty little secret of the travel industry. The airlines are happy to see these miles melt away because that means that they are not giving away as much and are taking in more profit. However, when it comes to the people who actually earn these rewards, throwing away valuable points could be costing them money.
The Shared Economy Business Model
Consumers are starting to catch on to this fact, and they are seeing that they can take advantage of what they have by use of the “shared economy.” While this term sounds like we are just sharing everything we own, what we are really doing is providing our services to a stranger for money.
It is becoming commonplace to find things we can share and profit from them. Those who have a car can make money with Uber. Those willing to share their house can rent some of that space with Airbnb. So why can’t the same be said for airline miles?
Selling Your Credit Card Points and Airline Miles
Whether you are flying around the world to accrue these miles or you are a shopaholic, you can sell or “share” your points with others, so they don’t go to waste.
Depending on how you redeem them, the cost of these miles can really add up. For instance, the American Express miles are worth 0.5 to 1 cent each, depending on how you choose to redeem them. To get a big bang for your buck, you can bring your miles to point brokers like Mileage Spot where you can get 1.3- 1.35 cents per point.
For example, an Entrepreneur from Washington DC, who owns large Business with several hundred employees earns between 6-8 Million Credit Card points a month. From selling these points, he earns $78,000- $104,000 on a Monthly Basis from mileagespot.com.
Obviously, he happens to be among the select few who have the ability to earn that massive point total on a monthly basis. However, there are also regular small businessmen and women who earn between 100,000 points to 1,000,000 points a month. Now let’s do the math:
At the rate of 1.3 cents per mile, a man who has 100,000 points can sell them for $1,300. This goes up to $13,000 for 1,000,000 points! Incredible!
It is fun time we live in where we can make money just by going through our regular routines. By selling your credit card points and airline miles, your return on investment can be limitless. What are you waiting for whip out that Credit card and start spending.
20 Nov 2023 - Credit Card