Developing a System
Feb 13, 2014, 10:03 pm
#16
Join Date: Feb 2012
Location: Los Angles
Posts: 2,101
In general, the CLs on my cards afford a healthy amount of MS. I pay them down repeatedly intra-month and never close with a 10% balance to CL. I also can float a fair amount of spend if need be.
I have several convenient sources of MS vehicles, and several avenues to offload, rinse, repeat.
I am still gearing up, though I can triple what I already do with no great increase in time or effort. But I want to be thorough about his. Besides risking the FR on an Amex card, does the level of GC, VR, or similar vehicle spend relative to income matter?
I have several convenient sources of MS vehicles, and several avenues to offload, rinse, repeat.
I am still gearing up, though I can triple what I already do with no great increase in time or effort. But I want to be thorough about his. Besides risking the FR on an Amex card, does the level of GC, VR, or similar vehicle spend relative to income matter?
Feb 14, 2014, 8:21 am
#17
Join Date: Nov 2013
Posts: 122
After realizing that i was spending too much time thinking about this stuff, I decided this month to make a simple checklist of vehicles that I know how to work (or need to work, in order to avoid a fee or whathaveyou) and put it into a spreadsheet so that I can check off when (and, if applicable, how far) I've driven each vehicle each month. I've also incorporated all of my CC closing dates into a unique calendar in googlecalendar, so I can see at a glance when statements will be closing (helps for putting that .99 charge on my otherwise unused chase cards, or paying down that 10k amex bill to $25 before the statement cuts, etc.). I still check in here often, but I'm having fewer of those moments at the end of the month where I wake up int he middle of the night panicking about whether I maxed out my BB for the month or remembered to use my AP, or got all 10 debit uses for my rewards checking, etc.
Feb 14, 2014, 11:06 am
#18
Join Date: Feb 2013
Location: NY
Posts: 233
I still check in here often, but I'm having fewer of those moments at the end of the month where I wake up int he middle of the night panicking about whether I maxed out my BB for the month or remembered to use my AP, or got all 10 debit uses for my rewards checking, etc.
Feb 14, 2014, 11:35 am
#19
Join Date: Jan 2014
Location: New York, NY
Posts: 11
I started with 1k on amazon payments once a month in a lump sum.
Then graduated to 6k using serve and paying no fees.
I then got my wife a serve card and run 6k through her serve card. But using credit cards she is an authorized user for. I'm the main account holder.
This totals 13k a month in (no fee) MS split up on two cards before my regular spending. With my regular spending I will end up running about twice my yearly income through credit cards. I haven't been doing it long (3 months) but so far no problems.
Then graduated to 6k using serve and paying no fees.
I then got my wife a serve card and run 6k through her serve card. But using credit cards she is an authorized user for. I'm the main account holder.
This totals 13k a month in (no fee) MS split up on two cards before my regular spending. With my regular spending I will end up running about twice my yearly income through credit cards. I haven't been doing it long (3 months) but so far no problems.
Last edited by Potatoe; Feb 14, 2014 at 11:37 am Reason: clarity
Feb 14, 2014, 11:57 am
#20
Join Date: Jan 2014
Location: TX
Posts: 11
I started with 1k on amazon payments once a month in a lump sum.
Then graduated to 6k using serve and paying no fees.
I then got my wife a serve card and run 6k through her serve card. But using credit cards she is an authorized user for. I'm the main account holder.
This totals 13k a month in (no fee) MS split up on two cards before my regular spending. With my regular spending I will end up running about twice my yearly income through credit cards. I haven't been doing it long (3 months) but so far no problems.
Then graduated to 6k using serve and paying no fees.
I then got my wife a serve card and run 6k through her serve card. But using credit cards she is an authorized user for. I'm the main account holder.
This totals 13k a month in (no fee) MS split up on two cards before my regular spending. With my regular spending I will end up running about twice my yearly income through credit cards. I haven't been doing it long (3 months) but so far no problems.
I've only been doing this for about a month. I keep my receipts and used cards in one gallon sized plastic bag, while I put my statements and CC's (only 2 right now) that we're not trying to hit a spend on in the other. I like the idea of using a Google Calendar to manage statement close dates though.
Feb 14, 2014, 6:44 pm
#22
Join Date: Aug 2005
Location: DFW
Posts: 1,249
Here's a logistical thought:
After realizing that i was spending too much time thinking about this stuff, I decided this month to make a simple checklist of vehicles that I know how to work (or need to work, in order to avoid a fee or whathaveyou) and put it into a spreadsheet so that I can check off when (and, if applicable, how far) I've driven each vehicle each month. I've also incorporated all of my CC closing dates into a unique calendar in googlecalendar .......
After realizing that i was spending too much time thinking about this stuff, I decided this month to make a simple checklist of vehicles that I know how to work (or need to work, in order to avoid a fee or whathaveyou) and put it into a spreadsheet so that I can check off when (and, if applicable, how far) I've driven each vehicle each month. I've also incorporated all of my CC closing dates into a unique calendar in googlecalendar .......
I do keep a spreadsheet of the spend required for bonuses and if the bonus is based on the calendar or card membership year. If card year, which month is start.
Feb 14, 2014, 6:58 pm
#23
Join Date: Aug 2011
Posts: 866
Developing a System
I think a missing question might be 'how much can you afford to see locked up for 30-60 days'. Many MS vehicles end up getting .... down and sometimes you have to wait for your money. Netspend was very popular before Bluebirds but many if us saw $10,000 locked up on Netspend accounts while they ran their risk and fraud ........ before sending a check. The impact of $10k locked up on a debit card is no big deal to a multi-millionaire; or the end of the world to a poor college freshman.
Feb 15, 2014, 7:48 am
#24
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Feb 15, 2014, 8:07 am
#25
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Indeed we are a diverse crowd, but the better players have a high degree of intelligence and creativity and deeper pockets.
1. 4x income
2. 100% MS
3. Hightide mark was 100 cards, including originals, AUs, and virtual accounts while assisting the mint with inventory reduction.
4. Currently play with 8 issuers, but have played with more. That figure doubles if you include pseudo bank issuers and debit card issuers.
1. 4x income
2. 100% MS
3. Hightide mark was 100 cards, including originals, AUs, and virtual accounts while assisting the mint with inventory reduction.
4. Currently play with 8 issuers, but have played with more. That figure doubles if you include pseudo bank issuers and debit card issuers.
Well, we sure are a merry bunch of piranhas! I have read many threads in depth and have benefitted greatly from so many contributors. Thank you FT and thank you for the input of so many contributors!
There are still some things that escape me though. We come in many shapes and sizes - age, financial profile, experience, household size, etc. I am trying to develop an efficient, adaptable system that can cut across these parameters.
So here are a few of my questions:
1. What percentage of MS seems sustainable relative to annual income and relative to credit limit?
2. Within the spending on one card, what percentage of real versus manufactured spending seems sustainable?
3. How many cards do you MS on simultaneously?
4. Do you max out your spending to annual income ratio with several issuing banks simultaneously?
I know we all have different comfort levels. I am curious to see what has worked.
There are still some things that escape me though. We come in many shapes and sizes - age, financial profile, experience, household size, etc. I am trying to develop an efficient, adaptable system that can cut across these parameters.
So here are a few of my questions:
1. What percentage of MS seems sustainable relative to annual income and relative to credit limit?
2. Within the spending on one card, what percentage of real versus manufactured spending seems sustainable?
3. How many cards do you MS on simultaneously?
4. Do you max out your spending to annual income ratio with several issuing banks simultaneously?
I know we all have different comfort levels. I am curious to see what has worked.
Feb 15, 2014, 8:23 am
#26
Original Poster
Join Date: Jan 2014
Location: CT
Posts: 50
Pretty high water marks, ADK!
Agreed that creativity and ability to handle the carrying costs are key, but it is good to know that such percentage levels can be sustained.
Care to share a breakdown of that 100% MS? Financial instruments, reselling, FARs, etc...?
Agreed that creativity and ability to handle the carrying costs are key, but it is good to know that such percentage levels can be sustained.
Care to share a breakdown of that 100% MS? Financial instruments, reselling, FARs, etc...?
Feb 15, 2014, 9:58 am
#27
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Lets just say the MS goes broad spectrum over multiple enterprises including miles earning debit cards running as turbochargers to credit card MVD purchases turned into MOs for bank recapitalization, beans bought on 2-3x credit cards feeding a flock of birdies and their friends, multiple vines in Jungleland, stripmining new account sign on bonuses, direct bank recapitalization through new account funding, Nationwide is On Your Side, gift card regifting, microlending and etc.
Been racking up new countries in the past few weeks, so business at The Green Recycling Company has suffered. Could be it was not the weather that reduced US January sales figures.
Been racking up new countries in the past few weeks, so business at The Green Recycling Company has suffered. Could be it was not the weather that reduced US January sales figures.
Feb 20, 2014, 8:17 am
#30
Join Date: Feb 2014
Programs: csp chase sw chase united barclay hilton citi aa
Posts: 21