Manufactured Spending

[phatposts]

I do this a lot. I live in the least MS friendly areas and still manage to do decent volumes. 

I do a lot of gift card reselling and run a small group for friends to do gc reselling. Basically they use this avenue to meet minimum spend on new cards and some folks do it for profits as well. 

Margins are meager but it is all about volume driven numbers. Accounting and organizing capabilities leka pote this is not a good avenue.

If you think this is a loop hole you should not do it.

[kevinUsa]

I APPLY FOR CREDIT CARDS

 PURCHASE  gc

 PURCHASE MONEY ORDER WITH gc 

DEPOSIT IN MY BANK PAY OFF THE CREDIT CARD  BIL

 i GET  monthly points 

that way I now have 110k travel rewards.

 the chase guy has doubled my credit line for using this.

 

[phatposts]

5 minutes ago, kevinUsa said:

I APPLY FOR CREDIT CARDS

 PURCHASE  gc

 PURCHASE MONEY ORDER WITH gc 

DEPOSIT IN MY BANK PAY OFF THE CREDIT CARD  BIL

 i GET  monthly points 

that way I now have 110k travel rewards.

 the chase guy has doubled my credit line for using this.

 

nice. 

Which chase card do you do this with? What are your MO costs and what denom GCs do you buy?

[kevinUsa]

7 minutes ago, phatposts said:

nice. 

Which chase card do you do this with? What are your MO costs and what denom GCs do you buy?

MO cost 

88c  for 250$

GC cost for 250$$ it is 4.94

for 250$$ i spent around 6$$ 

you cannot purchase money order with every GC 

there is a  lot of research need to be done about htem 

it depends on your area 

I live in midwest so I know how this all works 

[DrBeta]

53 minutes ago, phatposts said:

First of all its not a loop hole. You pay processing fees and you take some calculated risks as well. 

When you open multiple bank accounts and leave some money in each bank account for a certain period of time, banks pay you money. After that you can move the money to a different bank. However the income that banks pay you is taxable. 

[DrBeta]

55 minutes ago, phatposts said:

I do this a lot. I live in the least MS friendly areas and still manage to do decent volumes. 

I do a lot of gift card reselling and run a small group for friends to do gc reselling. Basically they use this avenue to meet minimum spend on new cards and some folks do it for profits as well. 

Margins are meager but it is all about volume driven numbers. Accounting and organizing capabilities leka pote this is not a good avenue.

If you think this is a loop hole you should not do it.

Which is the least MS friendly area that you're talking about?

[phatposts]

51 minutes ago, DrBeta said:

Which is the least MS friendly area that you're talking about?

I live in Western Mass. Scalability is less. We are better than NYC, SoCal & NoCal thats all.

[phatposts]

1 hour ago, kevinUsa said:

MO cost 

88c  for 250$

GC cost for 250$$ it is 4.94

for 250$$ i spent around 6$$ 

you cannot purchase money order with every GC 

there is a  lot of research need to be done about htem 

it depends on your area 

I live in midwest so I know how this all works 

Which chase card do you buy these GCs with?

[DrBeta]

Midwest lo vallaki oka chinna hunch, Uber has local offers and dantlo Costco undi. 

[Vallavan]

i live in dal.. is there an article to learn more about this?

[Vallavan]

and also, what $ amount (realized or not) is considered average and better?

[kasi]

53 minutes ago, Vallavan said:

i live in dal.. is there an article to learn more about this?

agreed...+1