My Mastercard gives me 1% cash back. I can set up a paypal account against my master card. Now what is the catch in this scheme?
1.Transfer 1000 dollars from mastercard to paypal( this does not cause any transaction fees) 2.Collect the 1% cash back = 10.
3.Change settings to set up paypal against a bank account (no charge)
3. Transfer the money back into the chequing account (no charge)
Essentially a 10$ riskless profit that can be repeated.