Anyone making a living out of this?
Mar 17, 2014, 6:41 am
#46
Join Date: Sep 2012
Posts: 217
The features that I can see are: excellent credit, ample credit lines, willingness to recruit many family members or create fictional accounts, lots of free time, willingness to spend that time traveling from store to store. Without multiple accounts the average guy will have a hard time doing 20K / year.
Mar 17, 2014, 7:32 am
#48
Join Date: Aug 2011
Location: New Jersey
Programs: Delta P, SPG G, Marriott S, Hertz PC
Posts: 1,007
Having family accomplices definitely makes it easy, but I don't think it's really a fair comparison. Someone with access to 20 SSNs can MS $100k a month on just 20 Serves, less with Isis. Just register load all 20 at CVS each day, 4 days in a row, BP out, and you're done in probably under 2 hours a month. Don't have 20 SSNs? Find 10 and do Serve + Emerald. Don't have 10? Find 5 and do... etc. As the number of people goes down, the creativity, time and effort it takes to do the same $100k becomes a lot higher.
Just doable.
But yes, absolutely right. However if you have 20'ssn, why limit to just 100k a month? You can easily accomplish 400k a month with that, extra perks if you have access to their credit, or at least ability to add as authorized user.
The simplistic thing for straight income is gift cards to money orders, bill pay, or mixed in with merchant account legit spend. None of that really requires a Ssn.
Good discussion.
End of the day...
Extra Ssn make it easier.
All depends on how much time you want to invest.
50k a year easily done with dedication without getting too exotic.
Mar 17, 2014, 10:19 am
#51
Join Date: Dec 2008
Posts: 367
The lone churner has to churn his Amex BC (or equivalent) about 8x a month. The average guy will have some trouble doing that and staying under the Amex radar. He'll also have some trouble finding unlimited VRs to load to his prepaid cards, and he'll have some trouble depositing 40K+ a month in money orders at banks. Perhaps there are some special "techniques" I've missed but it all seems like variations on the same theme.
Mar 17, 2014, 10:29 am
#52
Join Date: May 2011
Location: NYC
Programs: UA 1K, AS MVP Gold, TK *Gold, HHonors Gold, SPG Plat, Marriott Plat, Hyatt Diamond
Posts: 570
Theoretically possible but I’m not interested in this replacing my regular job. Too much volatility.
With that said a very simple model of 5 family members getting 25k VRs on a 5% CB (4.2% net) can get to $1050/month. Throw in 5k in AP at 2.2% for an extra $110. I’m happy that this covers a few of my splurging meals in NYC!
With that said a very simple model of 5 family members getting 25k VRs on a 5% CB (4.2% net) can get to $1050/month. Throw in 5k in AP at 2.2% for an extra $110. I’m happy that this covers a few of my splurging meals in NYC!
Mar 17, 2014, 10:34 am
#53
Join Date: Jan 2014
Location: CT
Posts: 50
Agreed. And that is why I think it is so valuable to set up a variety of vehicles to be able to exploit opportunities as they arise. The competition I referred to seems to be overwhelmingly focused on 1 vehicle, and I question the sustainability of the techniques as well. In the 6 months I have been doing this, though, I have seen a myriad of opportunities arise. If you can evolve with the times, each month could bring a new and profitable challenge.
Mar 17, 2014, 11:54 am
#54
Join Date: Sep 2012
Location: SNA/LAX
Posts: 145
As others have said, making $50K for the first year is relatively easy if you know what you're doing. Continuing it beyond that becomes more time consuming and difficult, but it's still very much possible.
I think it's important to really take advantage of the products that are available to you when you start doing this. If you're gonna do it, go hard and fast. (that's what she said)
I think it's important to really take advantage of the products that are available to you when you start doing this. If you're gonna do it, go hard and fast. (that's what she said)
Mar 17, 2014, 12:09 pm
#55
FlyerTalk Evangelist
Join Date: May 2006
Location: DTW, but drive to/from YYZ/ORD
Programs: Chase Ultimate Rewards 2MM, Diner Club points
Posts: 31,953
These two are pretty easy if you are in a large metro area without a large concentration of MSers. You goto other stores, and you open accounts at different banks and credit unions. Takes more time, but doable.
Mar 17, 2014, 12:11 pm
#56
Join Date: Dec 2013
Posts: 546
For one 5% cashback card, 50k profit is $83,000 MS/month (with zero fees). With a low fee of 0.5% for load/unload that is about $93,000 MS/month. I bet that would trigger an FR from Amex.
Mar 17, 2014, 1:56 pm
#57
Join Date: Aug 2011
Location: New Jersey
Programs: Delta P, SPG G, Marriott S, Hertz PC
Posts: 1,007
Doable, but "easily?" To buy 400k of prepaids/reloadables, you'd need more than one accomplice at CVS or branch out to RA/WG/groceries/WM/online GC malls/etc. That's assuming they're all stocked to sell you 800 cards per month. Sure, you can reduce that by doing $950 RIs, AP, Buxx, etc but not by a lot. Then you'd need to cash-out the additional 300k. Even if all 20 SSN's have Serve + Emerald + TM to BP out, that still leaves 100k to debit out every month without AA. That's a lot of WM BP, MO, etc for a single person to do month-in, month-out.
I'm not saying this is rocket science - it's not. Even secret techniques are easy concepts. The problem is time and external factors - it is a lot of work to consistently MS at 6 digits per month.
I'm not saying this is rocket science - it's not. Even secret techniques are easy concepts. The problem is time and external factors - it is a lot of work to consistently MS at 6 digits per month.
I will say, in the north east, I am in an area with at least 10 to 15 cvs within 20 min drive, and 3 or 4 walmarts if I needed to.
If i do not get lazy, I will easily surpass $100k this month. Ramping up to $400k would be possible. Just depends on how many hours a day you want to invest.
Will leave it at that.
Mar 17, 2014, 2:48 pm
#58
Join Date: Dec 2010
Posts: 352
I could see it "maybe" if people were getting tons of signup bonuses, selling miles, etc.
I can't imagine the time it would take to make $50k and you would not clear 50k when you factor in expenses, etc. And even if you would, that time you could better yourself and get a long term job that pays better.
That's my opinion. I do Amazon Payments and I do a few signups for exotic vacations. That's the extend I personally put into this hobby. To each his/her own
I can't imagine the time it would take to make $50k and you would not clear 50k when you factor in expenses, etc. And even if you would, that time you could better yourself and get a long term job that pays better.
That's my opinion. I do Amazon Payments and I do a few signups for exotic vacations. That's the extend I personally put into this hobby. To each his/her own
Mar 17, 2014, 3:55 pm
#59
Original Poster
Join Date: Feb 2014
Posts: 29
Thanks everyone for the informed discussion. I do have a day job and would not recommend anyone quit their day job to do this. For me it's a very fun and exciting hobby. I love thinking about and discovering new MS schemes. (My friends think I'm crazy). Anyway, thanks again and best of luck to those of you who are managing $50k+, that's an impressive feat!
Mar 17, 2014, 4:03 pm
#60
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820