US physicist Konstantin Anikeev managed to earn over to Rs 2.17 crore using a ‘unique idea.’
Konstantin started earning from his credit card in 2009 as a hobby and it soon turned into a “profession” for him. He eventually managed to earn millions from it.
The physicist used his credit card to buy a large number of gift cards. He would then encash them and use deposit the money into his bank account and pay the credit card bill. This payment earned him a reward from the credit card company.
The rewards from paying the credit card bills were his earnings. He repeated the process multiple times to earn more money.
For example, Konstantin earned a reward of $25 on the purchase of a $500 gift card. To encash the gift card, he had to pay a fee of $6, which left him with a profit of $19.
The physicist managed to earn $300,000 (Rs 2.17 crore) by repeating the trick over the years.
The case came to light when someone noticed Konstantin’s income rise exponentially and reported it to the US Tax department.