Rotating money, the pros and cons
- 10046
- 150
-
- Last Comment
I have heard many people here rotating money card to wallet to bank or sorts. Personally I don’t feel comfortable rotating money at all.
But at times I feel like iam missing things. Some People milk rewards, get limit enhancements through just rotating money.
So here Iam confused and wondering if it is worth it. Can people share their experiences/opinions regarding the pros and cons of rotating money. Is there any risk involved or just the sweet fruit of rewards ??
Deal Wiki
-
Created by : _One_Miller_
Everyone is expert until @kirandr221996 arrives.
tag correction
Personal pov :
Risk n rewards goes hand in hand, if you want to get cashback, you need to rotate money, especially for cc target based offers, add money offers wagara wagara,
if you’re that rich, you won’t bother to get 100/160/200/250/500 anyway so then you’ll buy some IPL teams or produce some movies or music videos or maybe buy some hotels at luxurious exotic locations!!!!
Only the level changes, from small scale to large scale. Everyone is rotating money only.
Its depend on how you feel . For me its totally worth, i can easily get good rewards by rotating money…i.e upi transfer reward on amazon FreeCharge paytm, many times cred, And it will be closing soon as upi will be chargeable soon..many more options will open against that for sure..
Bottom of the line .
Why don’t i do that wich takes only some effort to do that and in return giving enough reward
As far as I know, it’s not illegal or anything right
@mastervijay , you are an expert too, don’t be shy
The only rotation I did was for the dhani 2% cashback upto 1000, on credit card payment, but it is technically not a rotation loaded from HDFC, ICICI cc and paid SBI CC
I don’t have any shy to say the truth bro.. Im not all an expert in dealing transactions.. That too rotating money.. Many old dimers know about me very well.
In just a spectator with very little bit tech knowledge. That’s it.
Once a month I used to turn evil pull money from Amex to PayTM and payoff amex bill. The money never touched my bank acc. And mostly it was 6kish. Now that PayTM blocked that loophole, I am happy not to be doing it.
Now I know there are ways where we can achieve spend based offers of 30k-1L, but honestly whats the use, next time the offer is going to increase multifold and greed will take over. Nopes, don’t support money rotation in anyway. Also will not go into a debate of it’s legality, but don’t want that IT notice.. even if there are loads of justification. If I earn 50k and pay 50k+ to credit cards, thats gotta trigger some alarms somewhere. Whoever has the time and mindset to enjoy such chances are welcome to keep trying their luck.
the thief is the one who get caughts
.
Now i have access to credit cards but stay away from that thing.
It isn't worth the time and effort.
Too much of unnecessary tensions and someday things definitely will start falling out.
I took the bait too, opened dhani free cashback card
And I was being tricked into getting that one freedom card by messages like here is your card with 4 lakh limit and save 25% on bills click here but I’m not that naive 
Is cashback card dangerous too?
.
What you think bank earn there earnings?, — by rotating money.
And how exchange/stock works?
And here you are worried. Enjoy till it last, if they block you, get another card and enjoy. But do all wisely.
Leave credit cards
What about rotation using debit card?
Like IDFC 1% offer. If we rotate 10L to get 10k rewards
Will this still invite IT notice? 
How much you make per month using CB/Rewards is one of the prime parameter for Money rotation.
If it is >10% of your monthly expenses, one should go for it.
Money rotation has been business for many since ages… The larger ones known to people are banks / NBFCs… The tinier ones are seen on DD and they are known as dimers … Everything in life involves risk (Bhai Risk hai toh ishq hai 
) and people take risk based on their comfort and ability to manage those risks.. If you feel you are missing things, I would advise to either take the plunge and experience the excitement / thrill / risks (Jab tak paani mein nahi utroge tab tak nadi kitna gehra hai pata nahi chalega) or just eat cadbury and do nothing…
Everyone is expert until @kirandr221996 arrives.
I envy that wiki creation job @_One_Miller_ has, how do I get it
Captains can do it.
It’s ok if you know you aren’t racking up debt and only doing it for the purpose of showing transactions on the card for credit score or limit enhancement purposes which come with a few extra cb/rewards as a perk.
It may also be ok if you are in a emergency situation and desparately need money BUT are sure that you can repay it.
I only do this sometimes when i feel like my transactions on a certain card are not frequent/enough.
If purpose is to revive dormant cards or triggering limit enhancements or to get some worthy rewards which come occasionally, then money rotation is well and good.
But if purpose is to make it as an alternate income, then it’s not worth both the risk and time.
Better to invest the same time and efforts in other skills which give better results in the long run.
Pros- u get free money without doing anything
Cons- slight tension incase of payment delays/transaction failure and time taken for refund
There are 100s of way to rotate money without paying anything extra from credit cards for rp or spend targets. etc
Well i was doing rotation like 10times of my cc limit a few years back(precovid). I got a monthly income more than an avg engineering salary.
As far as IT is concerned maintain a proper statement whether you send from card to card or card to bank. If you can explain source of fund you are good to go.
Rotation will actually decrease ur credit score by 30-50pts but gradually as credit limit gets enhanced it will also bounce back.
Currently cibil 789 have 5 cc from various banks and not rotating more than 2L per month all cc combined. As i got job with decent pay i can’t get time to rotate 😭😭😭
How do I check IT notices ? How does one sms or notice look like ?
One shall look in Income tax portal for them ?
You can rotate till you have available Credit limit.
Pros
Interest Free Money
Cons
Sooner or Later you have to Pay.
Income Tax Notice can come if cumulative transactions become too large.
Without going into specifics, assume you have a credit card which gives 3-5% percent reward on wallet load and a wallet which allows transfer to bank or payment of another credit card at no cost or or a 1-2% including means like rent pay, transfer to bank or same/different credit card bill payment, you save some discount amount without spending a rupee.
If rewards are given for loading or paying credit card or if you put to good use the money sent to bank from credit card, you will gain alot. Also spend based offers, waivers and limit enhancement/ upgrades are an additional bonus.
nothing wrong
message me if someone have such tips
I’m calling the experts
@_One_Miller_ @Sm2698 @Pikachu_ @Tony007 @BornGenius2.0 @aswaniexpress @homedimer @ Wander-lust @Bk100 @raghuramn
@rajrocks @Himanshu1234567 @Deal_guru001 @bdatta1981 @DEVIL10 @Rocking_since_1992 @Mr.Unique
@Siddhartha07 @rohan8397 @gsurocks @Kumar07877 @Sidhu634 @suplex_city
@Sunjaypatel @hardik02 @kiranparepally @Ramesh1997 @ashish0193 @adrishya @SPARKROCKERZ @mastervijay @UniqueDimer , @ B-Rabbit @arorasid @Ragnarok77 @moh.soh
@tappukepapa @justforcoupon @Seinfeld @chota_chattri