@audia4 wrote:
@longtimelurker wrote:
@Josh2942 wrote:
Basically that's when you are buying things for friends or family for example and they are paying you back and you do it so much that it's not your spending but someone else's is. Say you have a friend that needs a new engine that has the cash and you pay 3k for it on the card and he gives you the cash. You get rewards from someone else's spending. It's manufactured. I do it all the time tho. For my family. I put vacations, has, groceries everything on my sapphire cardNo, that is not it! Basic definition is the purchase of (near) cash-equivalents, such as Visa/MC/AMEX gift cards, to gain rewards on the credit card. The cash equivalents are then converted into cash and the proceeds used to pay off the credit card, and the cycle starts again. This involves tens of thousands of dollars purchase per month at the medium level.
Current moderator policy prohibits advocation of MS, so I won't say the pros and cons.
But what Josh2942 describes isn't real MS, but issuers wouldn't have a problem with it, as they are gaining from the transaction charges and so long as the bill gets paid, that;s fine.
ETA: the distinction is that the purchase has no purpose outside the rewards, and is liquidated at a small loss. Josh and his family/friends really use their purchases.
Oh ok. I guess I'm good with that then.
Good to know that the issuers won't have a problem with the way I'm using mine then. They are getting the charges for each individual transaction and then getting payment in lump sums.
Even Barclay encourages you to add AUs. The online account screen says "Earn rewards faster! set up authorized users"
@OHWWCB wrote:I was doing that with my new cards because I didn't want a balance to report and Chase kept changing my statement dates. I spent a good $5000 on my CSP the first month (booked my travel for the rest of the year) and paid in full. Once the first statement cuts, I'll know which date to expet going forward and will just make sure it's PIF by then.
Heh personally I like showing a real balance balance on my first statement but, why did Chase keep changing your statement dates? Never seen that either from Chase or anyone else unless I request to have the dates changed?
@Revelate wrote:Heh personally I like showing a real balance balance on my first statement but, why did Chase keep changing your statement dates? Never seen that either from Chase or anyone else unless I request to have the dates changed?
Actually, it has happened to me. When I first got my Chase card last year my date was the 23rd. I have noticed over the last couple of months that it's now the 20th. I'm not sure why and I have never had my date changed.
@newhis wrote:
@Revelate wrote:
@OHWWCB wrote:I was doing that with my new cards because I didn't want a balance to report and Chase kept changing my statement dates. I spent a good $5000 on my CSP the first month (booked my travel for the rest of the year) and paid in full. Once the first statement cuts, I'll know which date to expet going forward and will just make sure it's PIF by then.
Heh personally I like showing a real balance balance on my first statement but, why did Chase keep changing your statement dates? Never seen that either from Chase or anyone else unless I request to have the dates changed?
I think your talking about the first statement. My DW just got her Freedom and when she went online sometimes she saw that the statement will close 07/10, next time 07/20, then 07/12, 08/03, 07/16 and it always said that the due date will be 08/03. She did chat and they told her that the close date will be 07/14. Finally 07/14 arrived and the statement closed that day. Due date is 08/11. She was able to let less than 10% report.
Oh, that sounds like an awkward bug in the system somewhere. Thanks for the response, seemed pretty baffling otherwise. Thought it was explicitly set on account opening, or at least I never noticed any changes in that (though there were some other oddities on my Ink Cash card in how it was listed in their online/mobile interface that first month) could be related for all I know: all resolved after first statement cut so I didn't worry about it.