Topic Wiki

https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/

https://www.mixcloud.com/zev-brenner/talkline-with-zev-brenner-on-credit-card-scams-affecting-the-orthodox-jewish-community/

http://podcast.headlinesbook.com/e/31616-credit-card-miles-and-points-swiping-for-rewards-buying-and-selling-miles-is-it-assur-and-a-chillul-hashem-or-a-great-way-for-a-side-parnassah/



BEFORE SWIPING FOR SOMEONE READ THIS: (first hand story)

https://forums.dansdeals.com/index.php?topic=36812.msg2062371#msg2062371
https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/#comment-1399884


Dan's warning to DDF:
I hope people realize that any buying group or anyone else that gets merchandise in advance of payment can go south at any time. That's even if you get a check at the time of delivery.
X-posting as I don't want anyone to say that I never put a warning here.

A story that ended up in court - https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=iRcRHuyZUdOIx69D00a5XQ==&display=all&courtType=Kings%20County%20Supreme%20Court&resultsPageNum=1


I am one of the biggest buyers for buying groups, I have done millions in transactions and have sent to every group there is over the past 3 years. Most buying groups are okay, some scan in slower than others, some pay slower than others - most will lose a few packages over the year. You can research and find which are better for you.

However there is a bigger problem now with Amazon itself.  Amazon in the past has been great with any problems always ready with a refund for lost packages even if it was thousands of dollars. Lately Amazon has clamped down and has tagged these buying groups addresses  in their systems as "freight forwarder" and now no longer will fix any problem you have whatsoever. Doesn't matter what the problem is, even if it shows the package was never delivered, amazon will not help you in any way. Their copy and paste response will always be "this item was sent to a freight forwarder and we're unable to replace or refund the item. We recommend contacting your freight forwarder for more details, as we don't have any more insight or information regarding this matter, For more information about sending items via freight forwarders, please visit our Help Pages: https://www.amazon.com/gp/help/customer/display.html?nodeId=201117950." As well the amazon drivers either must know this or have been increasingly bad at delivering packages because the numbers of packages missing has gone up astronomically. Previously you would have very few packages missing, now the past 3 months I have had 59 "lost" packages. I now have over $15,000 of loses and some guy in Delaware is probably living the life with all the stuff he stole from me. I will survive, I have made a lot more than $15,000 over the years however just a warning to others here that things are not as they used to be and it really is no longer worth doing buring groups with all the loses piling up

« Last edited by Yo ssi on July 24, 2023, 06:47:26 PM »

Author Topic: PSA: Don't swipe recklessly for others  (Read 1182813 times)

Online aygart

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Re: PSA: Don't swipe recklessly for others
« Reply #2620 on: February 25, 2019, 09:27:26 PM »
why is it irresponsible leverage for someone who has 100k of liquid assets and 500k of net worth to swipe 25k a month for a 240% annual return
1. Explain your numbers in detail.

2. If you don't understand the risks and w why they can't get regular loans?

3. 25% of liquid net worth is not what we are dealing with here. I'm not even sure why you are bringing it in.
Feelings don't care about your facts

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2621 on: February 25, 2019, 10:40:23 PM »
why is it irresponsible leverage for someone who has 100k of liquid assets and 500k of net worth to swipe 25k a month for a 240% annual return
If you are sufficiently liquid, fully understand the risk vs reward and all of it's implications just go ahead! No one is stopping you. And Dan's post wasn't for a "sophisticated investor" or someone registered with SEC.
If you get it, and understand the risk, and are not simply desperately living of points because you have no honest way to make ends meet, gezunteh heit.


[Happens to be that there is someone worth  many many millions who "invested" in sungames... So maybe even you should take another thinking]

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2622 on: February 25, 2019, 10:41:20 PM »
The companies that swiped by their own company other people’s cards
Why don’t people bring a criminal investigation towards them ?
Isn’t that totally illegal and something they can get out of
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Offline sillypainter

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Re: PSA: Don't swipe recklessly for others
« Reply #2623 on: February 25, 2019, 11:00:27 PM »
The companies that swiped by their own company other people’s cards
Why don’t people bring a criminal investigation towards them ?
Isn’t that totally illegal and something they can get out of

CRONY, this is the LAST warning. Stop or I'll ban you for life. You make me cringe when you post about this topic.

Offline S209

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Re: PSA: Don't swipe recklessly for others
« Reply #2624 on: February 25, 2019, 11:02:39 PM »
There are a few differences that I am aware of, let's start with the potential tax consequences.

Debt eliminated in bankruptcy qualifies for an exemption from inclusion in gross income. Debt otherwise cancelled is included in taxable income, unless an insolvency exclusion applies (equity in your home and retirement assets are included in the calculation).
Don’t you think if you’d settle this with a bank you can file this as a business and take a deduction on the money you lost to the scheme, thus offsetting the settlement income dollar for dollar?
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Offline S209

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Re: PSA: Don't swipe recklessly for others
« Reply #2625 on: February 25, 2019, 11:03:23 PM »
i agree and that is a major problem but many people made tons taking some risk and every situation is a different risk/return. and to make a blanket statement that no one should ever do it and everyone that did it is stupid and naive and needs to get an education is also wrong. plenty of smart people with education have also taken too big of risks and lost everything . (and a lot of them had much more to lose than a bankruptcy on their credit report)
True. See: Jesse Livermore @ludmila
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Offline yitzgar

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Re: PSA: Don't swipe recklessly for others
« Reply #2626 on: February 25, 2019, 11:04:14 PM »
CRONY, this is the LAST warning. Stop or I'll ban you for life. You make me cringe when you post about this topic.
Chill

Offline S209

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Re: PSA: Don't swipe recklessly for others
« Reply #2627 on: February 25, 2019, 11:06:20 PM »
The companies that swiped by their own company other people’s cards
Why don’t people bring a criminal investigation towards them ?
Isn’t that totally illegal and something they can get out of
Why would it be illegal? What law are they breaking?
No it is called irresponsible leverage.
While I agree, that’s an opinion, not a fact. “Responsibility” isn’t a concept set in stone.
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Offline Yehuda25

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Re: PSA: Don't swipe recklessly for others
« Reply #2628 on: February 25, 2019, 11:07:03 PM »
CRONY, this is the LAST warning. Stop or I'll ban you for life. You make me cringe when you post about this topic.
Are you an admin? And what did he say that's so wrong?
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Offline S209

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Re: PSA: Don't swipe recklessly for others
« Reply #2629 on: February 25, 2019, 11:10:48 PM »
Are you an admin? And what did he say that's so wrong?
I’m still undecided on whether he was being facetious or not.

I was going to suggest moving this thread back to credit cards, but now i see it still belongs here ;)
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Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2630 on: February 25, 2019, 11:16:29 PM »
I’m still undecided on whether he was being facetious or not.

I was going to suggest moving this thread back to credit cards, but now i see it still belongs here ;)

I didn’t mean it in any bad way.
These few companies screwed people over
It’s one thing to not be able to flip merchandise and go bankrupt
But it’s too a new level to swipe by your own company just to float funds with interest and automatically go deeper in the hole
I don’t understand why @sillypainter feels the other way
Show Some Respect for Me, I am The Chief Rabbi of New York :)

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Re: PSA: Don't swipe recklessly for others
« Reply #2631 on: February 25, 2019, 11:28:15 PM »
Why would it be illegal? What law are they breaking?While I agree, that’s an opinion, not a fact. “Responsibility” isn’t a concept set in stone.
Yes it is an opinion but...
Find someone who understands the risks and feels that it is responsible to risk ones entire financial security for life to do this.
Feelings don't care about your facts

Offline aro123

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Re: PSA: Don't swipe recklessly for others
« Reply #2632 on: February 25, 2019, 11:29:49 PM »
The companies that swiped by their own company other people’s cards
Why don’t people bring a criminal investigation towards them ?
Isn’t that totally illegal and something they can get out of
it's not illegal it's just a breach of the terms.
and since these people authorized it they will be snitching on themselves too....

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2633 on: February 25, 2019, 11:34:17 PM »
Someone needs to call or email all the weekly publications that go around Brooklyn and Lakewood that contain advertisements for  CC farms or CC swiping and tell them to stop allowing those advertisements. (unless those publications are owned by the farms themselves...) This is destroying people's lives and needs to end.

Even better, place full page ads in these publications warning people of the dangers.

Offline S209

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Re: PSA: Don't swipe recklessly for others
« Reply #2634 on: February 25, 2019, 11:37:00 PM »
Someone needs to call or email all the weekly publications that go around Brooklyn and Lakewood that contain advertisements for  CC farms or CC swiping and tell them to stop allowing those advertisements. (unless those publications are owned by the farms themselves...) This is destroying people's lives and needs to end.

Even better, place full page ads in these publications warning people of the dangers.
DDMS has a far broader reach than that. Also, I haven’t seen those in a while.
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Re: PSA: Don't swipe recklessly for others
« Reply #2635 on: February 25, 2019, 11:37:07 PM »
Someone needs to call or email all the weekly publications that go around Brooklyn and Lakewood that contain advertisements for  CC farms or CC swiping and tell them to stop allowing those advertisements. (unless those publications are owned by the farms themselves...) This is destroying people's lives and needs to end.

Even better, place full page ads in these publications warning people of the dangers.
I wonder if there are grounds to sue them if they knew it should have known that the fraud involved.
Feelings don't care about your facts

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2636 on: February 25, 2019, 11:42:01 PM »
it's not illegal it's just a breach of the terms.
and since these people authorized it they will be snitching on themselves too....
Btw imho buying groups are criminally prosucutable.. but this is not the thread and it's been discussed.

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2637 on: February 25, 2019, 11:43:23 PM »
DDMS has a far broader reach than that. Also, I haven’t seen those in a while.

Williamsburg folks largely don't use the internet. Also older people are more likely to read those publications than Dans Deals.

This was posted about six weeks ago by user CMEY


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Re: PSA: Don't swipe recklessly for others
« Reply #2638 on: February 25, 2019, 11:43:43 PM »
it's not illegal it's just a breach of the terms.
and since these people authorized it they will be snitching on themselves too....
Not so sure you are right about that
Feelings don't care about your facts

Offline 12HRS

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Re: PSA: Don't swipe recklessly for others
« Reply #2639 on: February 25, 2019, 11:45:07 PM »
Btw imho buying groups are criminally prosucutable.. but this is not the thread and it's been discussed.

you cant drop a bombshell like that anywhere without at least mentioning the reason...