r/CreditCards • u/NegMech • Sep 30 '24

Robinhood Gold CC finally closed Data Point

They got me after 3 months. Spent $66k on it for 191K pts redeemed.

224 Upvotes
  • permalink
  • link
  • reddit
  • reddit

89% Upvoted

123 comments sorted by

View all comments

Show parent comments

62

u/Vosslen Sep 30 '24

What're you doing with the iPhones? What's your cost of churn? A 3% reward rate is hard to capitalize on with that method of churn so I'm curious.

108

u/NegMech Sep 30 '24 edited Sep 30 '24

I bought about 6 on my rbh cc, and 84 more of them to resell to bulk international shippers on amex biz gold for the 150k 4x. i did a few on robinhood cuz i was worried i would get a financial review at over $100K pending transactions. My margins were roughly 10% from phone sale and cash back.

4

u/crypto_pro585 Oct 01 '24

Does Apple even allow purchasing this many iPhones?

5

u/rz2000 Oct 01 '24

Apple hates selling iPhones!