This is a little known trick with Current by Discover whereas you can deposit money into your “teen card” using your chase credit card. This count as a purchase and you can withdraw money from your “teen card” via ATM machine. Since you are funding with a cash back credit card, you make money say 2% cash back with the Charles Schwab credit card.
Few important facts must know:
- Best to use it with Schwab 2% cash back to maximize profit.
- Teen Card can be loaded up to $2500 each time. But do so only once per month in order to avoid audit.
- Withdrawal can only be at $500 maximum per day, but only do it once a week. Again, avoid fraud audit by minimizing abuses. No ATM fee if you can find one through the Pulse Network.
- $5 monthly fee to keep the card open, but free first month with offer code “DM110806“
- Get up to 3 cards, so in theory, credit up to $7500.
- Also, try to use the teen cards for small purchases every now and then so they won’t be so suspicious. Again, try to follow my directions if you do not want the cards to be closed down.
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