How much do you make
Jun 4, 2014, 1:38 am
#61
Join Date: Jun 2012
Posts: 80
I've learned to minimize time spend buying and unloading and pass on things with a low payoff/time-to-unload ratio. I don't go to WM since the closest one is 40 min away. I'm also willing to cut into profit if it means faster unloading time. You have to figure out which channels are best for unloading which types of MS and at which dollar amounts (i.e. certain methods are much faster when it comes to unloading small dollar gift cards vs others)
Once you figure out a system to buy/unload large amounts efficiently it is pretty effortless.
Also helps that every store I need to hit up is within a .5 mile radius of home or work
Jun 4, 2014, 2:20 am
#62
A FlyerTalk Posting Legend, Moderator, Information Desk, Ambassador, Alaska Airlines
Join Date: Dec 2006
Location: FAI
Programs: AS MVP Gold100K, AS 1MM, Maika`i Card, AGR, HH Gold, Hertz PC, Marriott Titanium LTG, CO, 7H, BA, 8E
Posts: 42,953
Jun 4, 2014, 9:00 am
#65
Join Date: Oct 2012
Location: DFW
Posts: 478
Jun 4, 2014, 1:23 pm
#66
Join Date: Feb 2014
Posts: 511
I'm up around 60k a month.
I don't do it in the most efficient way - to date, I haven't bothered with online purchases, portals, or any of that jazz. $15k through VR to Bluebird and about 45k through MO. Obviously do easy little things like AP.
I spread my spending around various cards and issuers even if that isn't the best point per dollar return as long as its profitable and worth my time to do so - I feel that is important to remaining under the radar. I pay off my balances several times each month and keep my reported utilization at 2-4%.
I don't do it in the most efficient way - to date, I haven't bothered with online purchases, portals, or any of that jazz. $15k through VR to Bluebird and about 45k through MO. Obviously do easy little things like AP.
I spread my spending around various cards and issuers even if that isn't the best point per dollar return as long as its profitable and worth my time to do so - I feel that is important to remaining under the radar. I pay off my balances several times each month and keep my reported utilization at 2-4%.
Jun 4, 2014, 3:21 pm
#67
Join Date: Mar 2014
Location: NC
Programs: CITI, Barclay, Fidelity Amex, CC
Posts: 128
Jun 6, 2014, 1:56 pm
#69
Join Date: Dec 2010
Posts: 352
I do $1500 a month through serve (just me) and $2000 through AP (my wife and myself).
So $42,000 a year of MS and that's it. If I have to leave the house or go to Walmart too much hassle for me. Everything else I spend goes on CC as well.
So $42,000 a year of MS and that's it. If I have to leave the house or go to Walmart too much hassle for me. Everything else I spend goes on CC as well.
Jun 6, 2014, 3:39 pm
#70
Join Date: Jan 2013
Posts: 299
Nice, same for me. Except I do $1k Serve without ISIS.
Jun 6, 2014, 4:55 pm
#72
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Jun 7, 2014, 1:38 am
#74
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
If it is a $100K per month, at 4% (5% less 1% fees)....that's about $4,000 per month. Obviously, when someone does this, they have to cycle $100,000 in cash deposits in various bank accounts PER MONTH. That's over a million dollars in incoming and outgoing wires. That's like a full time job to buy/liquidate to cash and then pay the credit cards with that cash! Not to mention all the bells and whistles that OFAC looks at along with other branchs from the government that looks at suspecious bank deposits along with suspecious wire transfers. It will strike me if one is to do this for more than a couple of years without being either shut down or having to answer to IRS or any other agency out there.
Wife and I are still going strong and we both easily surpass that each month. I spend ~1-2 hours per day on average. That is including all the bank runs, store runs, and the spreadsheet upkeep on transactions....more like a part-time hobby that pays very well
. I am very anal and keep extremely detailed records, or it would not be that much time spent.