RedSun

With 2% CB cards, the return is not that so great.

mordakky

I use 1.5% CB cards after my Citi 2% was shutdown, and I'm still making good profit.

mordakky

1 reason I've seen that JAMS is better than AAA is because JAMS is more expensive for the bank - so they will settle for a higher amount.

RedSun

How much do you make if you buy $10,000 VGC with 1.5% CB cards?

craz

well if he keeps up his $300K a month then thats $4500 tax free

ogg

You're not counting fees to buy the cards, fees to liquidate the cards, fees for shipping/handling if you buy online--or the many hours of time involved.

radonc1

So if I do my basic math correctly
If you are doing $300K mo, you
1. need 300 $1000 GCs which cost $3.95 each (300 x 3.95 = $1185)
2. need 300 $1000 MOs which cost $0.88 each (300 x 0.88 = $264)
So basic cost of materials (excluding labor) is $1449 for each $300K. With a 1.5% CB card, you make $4500 - $1449 or $3051 per month tax free.

Of course, I have no idea how much time it takes to convert 300 GCs into MOs, but if I presume 10 GCs per hour, that is 30 hours of "labor". I presume depositing said MOs should not take all that much time but I am being lazy.
Works out to about $100/hour for 30 hours of work a month, tax free. Not bad if one can maintain all the moving parts and avoid the ever present rats waiting to feast on you.

RedSun

There are costs, like GC fees, MO fees, gas to drive to buy MO and any other related expenses.

ogg

YMMV. There's no way in hell I could buy 10 money orders per hour. The only company near me that will let me use Gebits for money orders is Wal-Mart. There are 4 Wal-Marts within 50 miles of me; only two allow Gebits--and those both force money orders to be bought in one transaction with only one transaction allowed per day (officially). . I can only do one $1K money order per transaction because I'm banned by MG

RedSun

The basic fees are correct. But not sure how many MOs you can buy at one store. 2 at a time? Then it is 150 trips to store per month. It is far more than 30 hours, and if that is even possible. If you can buy $5k per trip, it is 60 trips. I do not know. It may be 100 hours.

radonc1

I was trying to point out, in a somewhat opaque way, just how difficult it would be to do $300K a month in MSing using the way I know how to do it, at least.

However, there are places where I could get 4 $1000 MOs at one stop, and places where there are plenty of WMs to do your business at. And finally, I am certain that I am not privy to all the "other" techniques for doing MSing (the secret cabals of MSing ).

However, if it can be done, it does look "profitable", and requires no educational degrees and minimal financial investment.

craz

I didnt ask since I wouldnt expect the OP to answer, but I assumed (maybe wrongly) that the OP has something going for him that most everyone doesnt, could be a family member, neighbor, friend of a friend or a good friend is a Mgr at Wally so theres no limit to what they can get. Or at a supermkt where an MO < $.50 (yes that does exist I was shocked when I was in one place a couple of weeks ago on a trip)

I highly doubt with the volume the OP was doing what they did it as if the other 99.999% of us do

craz

So even at 1.5 it still may be better then earning miles or pts, especially after all the devaluations that have hit and will hit shortly

Then again after the net net might be more then a 2nd job would bring in, and who knows what the OP earns on his primary job, could be the CB earned is equal or more then their job

Whats not worth your time and effort might be very well worth mine, just cause someone may not feel its a waste doesnt mean its a waste to everyone

mordakky

Deleted

RedSun

Do not think anyone would ask....

With the shut-downs, it may not even apply to some people. They can't afford any shut-downs. Some do MS just to earn the CC bonus. Some do it for the profit, as a 2nd job.