Using Kiva to manufacture spend

Old Aug 16, 2021, 11:10 pm
  #166  
 
Join Date: May 2016
Posts: 17
Originally Posted by GarlicFlyer
I have put $6000 in Kiva over the past 3 years. I have had only one loan default, and that was for $25 to someone in the USA. I use Kiva to maximize the 5% PayPal quarterly bonus on Discover and Chase Freedom. I sometimes also use to empty gift cards.
Repayments have been slow lately.
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dogeatdog is offline  
Old Aug 31, 2021, 4:25 pm
  #167  
 
Join Date: Feb 2012
Location: DEN
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Originally Posted by dogeatdog
Repayments have been slow lately.
Are you still earning interest on the late payments?
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Old Sep 1, 2021, 4:24 pm
  #168  
FlyerTalk Evangelist
 
Join Date: Apr 2001
Location: MEL CHC
Posts: 21,148
Originally Posted by bbriscoe34
Are you still earning interest on the late payments?
You (as supporter) do not earn interest on Kiva.
https://www.kiva.org/
https://www.kiva.org/team/flyertalkers
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Old Aug 24, 2022, 4:05 pm
  #169  
 
Join Date: May 2016
Posts: 17
Am I the first person here banned by KIVA?

Did 110K in loans in 5 years. You would think they need interest-free money, but I guess not.
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Old Aug 24, 2022, 6:38 pm
  #170  
 
Join Date: Feb 2015
Location: Florida
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Originally Posted by dogeatdog
Am I the first person here banned by KIVA?
I have had a few problems with KIVA but always get out of jail because it is withdrawal related. I sometimes am slow to track how much is "moveable" out of KIVA and am off by a couple dollars. I tried to move $10-$20 more than would be eligible to move and they suspend me. After a quick explanation of my mistake they give my account back. Early on they once suspended me for multiple deposits in one day but I have not done that in the past few years. I have had success with many varying dollar amounts of deposits but am very careful with withdrawal and deposit frequency now.
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Old Aug 24, 2022, 8:50 pm
  #171  
 
Join Date: May 2016
Posts: 17
With 8% inflation it was becoming more trouble than it's worth anyway.

So much easier to prepay taxes.
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Old Aug 25, 2022, 10:29 am
  #172  
 
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
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Originally Posted by dogeatdog
With 8% inflation it was becoming more trouble than it's worth anyway.

So much easier to prepay taxes.
My bolding

Boy!!!
Isn't that the truth
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Old Nov 29, 2022, 8:50 pm
  #173  
 
Join Date: Nov 2011
Location: ord/bkk based
Posts: 220
Originally Posted by dogeatdog
Am I the first person here banned by KIVA?

Did 110K in loans in 5 years. You would think they need interest-free money, but I guess not.
what did they ban you for?
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Old Nov 29, 2022, 8:54 pm
  #174  
 
Join Date: Nov 2011
Location: ord/bkk based
Posts: 220
Originally Posted by dogeatdog
With 8% inflation it was becoming more trouble than it's worth anyway.

So much easier to prepay taxes.
i've been out of the game for quite some time -
does kiva still work?
does paypal to a relative? i'm assuming not on this one.
i assume buying something on ebay does?
buying precious metals?
prepaying fed taxes? i don't have anything withheld so this seems the juicy one for me.
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Old May 5, 2023, 2:44 pm
  #175  
 
Join Date: Oct 2015
Posts: 6
I heard on the frequent miler podcast on their MS episode that they were seeing ~2% default rates, so it may not be as useful as it was before.
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Old May 5, 2023, 8:44 pm
  #176  
 
Join Date: Feb 2014
Posts: 71
I stopped doing this once covid hit expecting default rates to rise. Also, since interest rates have risen away from near zero, it makes less sense to keep the money tied up when it can be earning more in a bank account.
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Old Jun 17, 2023, 1:16 am
  #177  
 
Join Date: Sep 2010
Location: EWR/PHL/JFK
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Posts: 615
My last buys were in July (PayPal) and August (Braintree) 2020. Both counted.

My lifetime default rate is actually pretty low at 0.71% including the covid era. Have one loan outstanding that’s got $18 left to repay (3 years late now). The currency exchange has gotten me though at 1.03% yielding a total of 1.74% which is close to the IRS payment method.

In my last batch I only did loans that matured in 14 months or less and used KivaLens to find lenders with low default rates.
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Old Oct 9, 2023, 2:31 pm
  #178  
 
Join Date: Nov 2010
Location: ONT
Programs: AGR, UA, AA
Posts: 476
Kiva still works, although I have given up on it as a viable means of MS. Lifetime ~$50k lent, 1.75% default, 0.09% currency loss. COVID killed a lot of loans and I was dumb enough to lend to Americans for their small businesses, in an era when loans in the open market were easy to get. My default rate with US residents was 15%, clearly the highest defaulting country. Paying taxes (and underwithholding payroll income) is better.
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