Perils of MS

[Brax]

OP, are you the same OP on FT that started the thread over there? Both had a 50K BC limit.

[bigDEElight]

The more I read, the more curious I become. Too scared of getting my cards shut down though lol. Sorry, LTL! I do hope you get your rewards though!!

[Anonymous]

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@CreditCuriousity wrote:

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@Anonymous wrote:

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@CreditCuriousity wrote:

Very interesting topic.. So in theory this was some peoples full-time jobs in essence?  Sorry for being nieve, but that is crazy reading some of what was on FT after reading this article.  

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For at least one person it is a full time job.   Apart from the perils of being shutdown by the issuer, stores can also change their policies, so too many buying money orders at a store can make them go cash only.   (And "too many" can be very small, if a store that sold one a month now gets asked 5 times a week, that;s enough!)   So the person I am thinking goes to lots of stores, over quite long distances, varying patterns.  It takes a lot of time, but he earns enough (tax free) not to need another job.  Not for everyone though!  From my limited experience, "job" satisfaction would suck!

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Agree, but alot of lazy people out there... Deffinetly if not a full-time job a job that supliments a substational amount of income for some people that chose to do it to that extent and abuse it like the 6 figures a month person or even to a  lesser amount.   Crazy.. Anyways, thanks for the info and sorry for your misfortune with the closure of the account.

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Vacation money.

[Luscher]

Bill money

[IncrsCredScore]

Thank you for asking that question; I was wondering the same thing.

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@Anonymous wrote:

Hate to ask a dumb question but what does MS mean?

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[IWOL]

MS= manufactured spending

Basicaly means buying cash equivelants i.e. gift cards, money orders etc and then using that same money to pay back the cards, generating rewards points or cash back.

[IWOL]

I wonder how many people would reply to this job post:

$60K a year salary

Job decription: go to CVS 3 times a week and purchase $15K worth of gift cards

Go to walmart 5 times a week and have a great time with those 30 gift cards. Time spent at walmart per trip : 30 minutes.

Any takers?

[Anonymous]

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@IWOL wrote:

I wonder how many people would reply to this job post:

$60K a year salary

Job decription: go to CVS 3 times a week and purchase $15K worth of gift cards

Go to walmart 5 times a week and have a great time with those 30 gift cards. Time spent at walmart per trip : 30 minutes.

Any takers?

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Actually. That would equal about $37,500 worth of 5% cashback.

Once you pay the fees on it it's actually more like $30,000.

[IWOL]

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@Anonymous wrote:

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@IWOL wrote:

I wonder how many people would reply to this job post:

$60K a year salary

Job decription: go to CVS 3 times a week and purchase $15K worth of gift cards

Go to walmart 5 times a week and have a great time with those 30 gift cards. Time spent at walmart per trip : 30 minutes.

Any takers?

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Actually. That would equal about $37,500 worth of 5% cashback.

Once you pay the fees on it it's actually more like $30,000.

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Your numbers are right, but some of teh so called "heavy hitters" apparently do 100k+ a month in MS, so those guys or gals could be earning 60K a year.

You couldnt pay me 100K a year to visit Walmart 3 times a week every week.....no way.

[Anonymous]

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@Anonymous wrote:

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@IWOL wrote:

I wonder how many people would reply to this job post:

$60K a year salary

Job decription: go to CVS 3 times a week and purchase $15K worth of gift cards

Go to walmart 5 times a week and have a great time with those 30 gift cards. Time spent at walmart per trip : 30 minutes.

Any takers?

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Actually. That would equal about $37,500 worth of 5% cashback.

Once you pay the fees on it it's actually more like $30,000.

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well that would be awkward to explain to credit card EO, if you ever have to recon for new credit card

EO : what's your annual salary?

me : 30k

EO : what's your occupation?

me : oh, I do MS for living.