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manufactured spending - anyone killing it?
 

is anyone doing MS and killing it? Are there any good resources to learn this in detail? How does it become profitable?

look up instagram.com/credit/ and explain to me why this boner has a lambo and 220 credit cards?

i<3ny

Re: manufactured spending - anyone killing it?
 

Continue with the explanation iloveny

Re: manufactured spending - anyone killing it?
 

if I knew the secrets, id be in my own lambo now.. suggest you check youtube for Stephen Liao and hear for yourself.

Re: manufactured spending - anyone killing it?
 

Ok, w/e. I doubt you'll get many good replies without at least giving a basic explanation of what you're talking about. :clap:

Re: manufactured spending - anyone killing it?
 

Manufactured spending is the process of buying items on credit that can be converted to cash e.g. a gift card. The cardholder then uses the cash to pay the bill on the card, which means he earns rewards without spending any money.

Re: manufactured spending - anyone killing it?
 

Many businesses start that way to some extent. People buy stock on credit, sell it for a profit, pay back credit card bill, earn rewards, make profit selling goods.

How that kid got 220 credit cards to do that with is a mystery to me.

Re: manufactured spending - anyone killing it?
 

Ive heard of this. Quickest way to try it is to go to a credit card matching site, get new cashback cards and buy groceries. 5 cards X $100-150 adds up quick.

As for buying moneyorders, vanilla visas and such its getting harder. One large retailer I know of asks for ID for over $300 in gift cards. Others frown upon this type of thing or view you as suspect for some kind of nefarious activity. Running credit transactions may be EASIER in some ways though now since these credit cards now run off chip and pin.

I dont know much about the points side of things, but theres entire forums dealing with "Churning", if thats what its called. Read a little article on this and seems interesting to say the least. I dont fly much yet, but in the future it could be quite something.

If you do get credit cards just be aware of fees and such. AMEX is notorious for annual fees and closing old accounts youve opened could ding your credit report.

Re: manufactured spending - anyone killing it?
 

but do you lose some money from card to cash?like fee?

you can easily earn rewards by applying for a card and spend $$$ IN 3 months from UAL,AMEX,Discover,Chase,Citicorp.
Just got one from UAL,it offers 50,000 miles if you spent 3k in 3 months,cant remember all the details,
Even WMT give you $35 if you apply for a WMT cc.
but then you have to spend money

Re: manufactured spending - anyone killing it?
 

I used to attend dinner every week with 10-12 persons,one guy will always offer to pay with his cc,collect all the cash,get all the points and use that cash to pay off his bill,of course he still have to pay his share of the dinner but deducting the points,his share would be less

Re: manufactured spending - anyone killing it?
 

AMEX Gold membership fee is zero the first year and they give your reward points to apply for one and spend 3k-5k in 3 months.
Cant recall the points,I think it is like 80,000 points,I went to the site to redeem the points and found WMT gift cards,bought them and went shopping at a WMT store,I think I end up with $300 worth of cards.
That was prior to 2008 meltdown,WMT was planning to create an area in their superstore to cater to the more affluent shoppers with gourmet cheese,wine etc.
WMT realised then instead of selling cheap $8 wine to the middle class,why not be like Costco,sell wine at $35-75 a bottle

Re: manufactured spending - anyone killing it?
 

Looked into this in Australia and it isn't viable, the rewards offered here for cc are terrible, plus I believe credit is harder to get here than the US.

Re: manufactured spending - anyone killing it?
 

Instead of wild horses and loose women,we have loose bankers !

Re: manufactured spending - anyone killing it?
 

You go to AMZN and apply for a card,you get $45,go to WMT.COM,you get $35.
You switch from one utility company to the next,you get $600 rebate in 2 years.

Re: manufactured spending - anyone killing it?
 

credit card companies don't appreciate that regular folk can outsmart them so sadly it's become more difficult to do this sort of thing.

Re: manufactured spending - anyone killing it?
 

3V used to be good for this in the UK. What made them so good was that all you paid was the value on the card; it cost £25 to buy and had £25 to spend. You would buy them with your credit card, use the 3V card to pay your bills or w/e and still get the points on your card. They must have caught onto this practice eventually however, as they soon became very scarce in shops and were eventually discontinued in 2015. Utility companies soon started to blacklist them too, so their uses over time became more limited.

What a shame. It really was fun while it lasted.

Re: manufactured spending - anyone killing it?
 

2011 ish, I had 130k in the bank all at 0%. I was earning 5% It was paying for my monthly payment on my chevy 2500hd. hah.

I never even had any idea of stocks back then, but I could see how you could turn that into a mil if you are willing to take the risk and know what you are doing. Knowing my dumbass if I did that, that day would turn out to be the markets worst day in history.

Re: manufactured spending - anyone killing it?
 

Were you getting 0% or 5%? :coffee:

Re: manufactured spending - anyone killing it?
 

Funny how all these people that profess to be so successful have an ebook or guide to sell us. Haha.