Stolen Visa Gift Cards

[Redbull3]

I also rock the jzpm (jacket zippered pocket method) especially for winter MS. Also a northface. That's hilarious.

[compddd]

I use a sweater as well with zippered pockets, works quite good! 

[ariIs]

That's why when I go to liquidate I always wear a jacket with zippered pockets , and I have come back home with $1500 in GCs still in my zippered pockets numerous times .

Thanks Northface  ! And I don't do things , unexpectedly.

+1 I do the same!
Always carry my GC in zippered pocket in winter, or wallet in the summer.

[Redbull3]

I think it's more like 'more than you can float'. Liquidation can take time. (Load limits, deposit limits, etc.)

To me MS is only for people who CAN'T float and will need to liquidate to pay back the bill. If you can float beyond that, rather than MS you should prepay for things for free. Like your phone/cable with Ink for example.

[username]

To me MS is only for people who CAN'T float and will need to liquidate to pay back the bill. If you can float beyond that, rather than MS you should prepay for things for free. Like your phone/cable with Ink for example.

You can do both.

[Redbull3]

You can do both.

Of course. My point was MS is paying a premium for the inability to float.

[yakrot]

Of course. My point was MS is paying a premium for the inability to float.

why is ms paying a premium?

[Redbull3]

why is ms paying a premium?

Meaning let's say the fee is $4.95 to churn 505 points (a non drugstore card at CVS to buy a $500 VGC). Why are you paying 4.95 instead of $0 for prepaying your local supermarket, con ed, ezpass, or dozens of other things? Because presumably you can't afford to float the money beyond the bill due date (which is how long it may take to use it).

[12HRS]

Meaning let's say the fee is $4.95 to churn 505 points (a non drugstore card at CVS to buy a $500 VGC). Why are you paying 4.95 instead of $0 for prepaying your local supermarket, con ed, ezpass, or dozens of other things? Because presumably you can't afford to float the money beyond the bill due date (which is how long it may take to use it).

who says we can't do both?

[Redbull3]

Not me... Not sure why my point is coming across.

[David Smith]

To me MS is only for people who CAN'T float and will need to liquidate to pay back the bill. If you can float beyond that, rather than MS you should prepay for things for free. Like your phone/cable with Ink for example.

-1. If I can float 10k, that doesn't mean I can only MS 10k. Most people MS a lot more than they otherwise spend in a year. It means I will only have 10k on the line at a time. Over the course of a month, I can MS 50k or more like that, by constantly turning over my internal self allowed credit line. Prepaying gives no such option. (This is besides for the loss of flexibility. Just because I can speculatively take out an MS loan against my available cash, doesn't mean I want to tie up all this capital for the next few months.)

[Redbull3]

-1. If I can float 10k, that doesn't mean I can only MS 10k. It means I will only have 10k on the line at a time.

Isn't that what I said? That MSing is not floating, because it's not due. If someone tells me they can float 10k, to me that means they can prepay. You can MS your total CL, without floating, b/c it's not due.

[David Smith]

Isn't that what I said? That MSing is not floating, because it's not due. If someone tells me they can float 10k, to me that means they can prepay. You can MS your total CL, without floating, b/c it's not due.

That means they can prepay. However, you can only prepay once, while you can turn over MS transactions many times. Only MSing what you can float means that at any given time, you won't have more credit card debt from MS than you have in the bank to pay. Once you get your MS instruments into the bank, your good to continue. Thee train for making sure you can float the balance is so in a worst case scenario, you won't destroy your credit and financial situation.

[Aaaron]

Meaning let's say the fee is $4.95 to churn 505 points (a non drugstore card at CVS to buy a $500 VGC). Why are you paying 4.95 instead of $0 for prepaying your local supermarket, con ed, ezpass, or dozens of other things? Because presumably you can't afford to float the money beyond the bill due date (which is how long it may take to use it).

Even if you can easily float 50k, why would you tie it up by prepaying 1 year's worth of expenses? I'd rather eat 1% and have my money. Nothing to do with the ability to float it.

[PillanSmye]

Meaning let's say the fee is $4.95 to churn 505 points (a non drugstore card at CVS to buy a $500 VGC). Why are you paying 4.95 instead of $0 for prepaying your local supermarket, con ed, ezpass, or dozens of other things? Because presumably you can't afford to float the money beyond the bill due date (which is how long it may take to use it).

Your MS example is about the worst way you can MS.   I would only do a 1x multiplier transaction for sign up bonus spend,  or if the card fees are $0—$2.50/ $500-$1000 card, or if it involves another method that doesn't even involve gift cards.

[David Smith]

Your MS example is about the worst way you can MS.   I would only do a 1x multiplier transaction for sign up bonus spend,  or if the card fees are $0—$2.50/ $500-$1000 card, or if it involves another method that doesn't even involve gift cards.

Depends what the points are worth. What you're basically saying is that in the example given, the profit line is pathetic to nonexistent.

[PillanSmye]

Depends what the points are worth. What you're basically saying is that in the example given, the profit line is pathetic to nonexistent.

What I am basically saying is,  that MS example is about the worst way you can MS.   I would only do a 1x multiplier transaction for sign up bonus spend,  or if the card fees are $0—$2.50/ $500-$1000 card, or if it involves another method that doesn't even involve gift cards.

[Redbull3]

link=topic=60298.msg1398111#msg1398111 date=1454099221]
Even if you can easily float 50k, why would you tie it up by prepaying 1 year's worth of expenses? I'd rather eat 1% and have my money. Nothing to do with the ability to float it.

This is a great point- time definitely matters and changes the math. A year is almost never worth it for that reason but a few months is, especially if the fees are substantial. Staples VGC with ink - I wouldn't buy them unless my next 6 months at Verizon (tv/internet) and sprint are paid. I don't mind tying up ~600 for 6 months rather than spending $18 to have it. I wouldn't make up that $18 in the market in those 6 months. I might but it's not guaranteed like the $18 avoidance is. And maybe 6 months is pushing it but 5 or 4 are definite for me.

[username]

To me MS is only for the amount that you CAN'T float and will need to liquidate to pay back the bill. If you can float beyond that, rather than MS you should prepay for things for free. Like your phone/cable with Ink for example.

FTFY

[SearchGuy]

Gift cards belongs in the pocket, they are nothing different than cash, but there are obviously people who leave cash in their car, these same people leave gift cards there too... #SadFact