Word: mastercard
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...seems this particular set of checks came from Joey's Pan Am-affiliated MasterCard. It's one of the many airline-affiliated Visas or MasterCards that give you a frequent-flyer mile free for every dollar you charge, even if you pay your balance in full within the grace period. To a frequent-flyer junkie, these cards are irresistible...
...paid all my outstanding charges and quit using the card. ((He switched to his United Airlines Visa.)) Then I took one of the checks they sent me, made it out to myself for $10,000 and deposited it in my bank. So I was borrowing $10,000 from MasterCard. ((He has a big credit line.)) But at the same time, I sent MasterCard a real check for $10,000." A couple of days later, three things happened...
...MasterCard's computer started licking its chops when it saw Joey had used one of his checks to borrow...
...MasterCard's computer then saw the $10,000 payment, so MasterCard couldn't start charging him interest...
...MasterCard's computer awarded Joey 10,000 Pan Am frequent-flyer miles...