What? The gift csrd is like 3$ to activate and iu can reload it for 2-3$ 6$ to get the card and load it with 1k for me i got 5$ of points spending like 150$ but depending where i go i can get like 40-60$ back in cashback doing this def worth it
Unless you have the discover it. On the first year where they match your first year's points and if the rotation falls in the month of 5x it becomes 9x
If you know what you're doing, you can travel for cents on the dollar. You clearly don't know how to leverage the credit card points you get for the fees that you incur.
They will just apply the excess to the next billing cycle. The insurance already doesn't want to pay you when you file a claim. What makes you think they're going to refund your money to you when you overpay. The chances of the request is non existent especially if the payment has already posted. In order to refund you the money they can't refund you any of the amount until the amount that is actually due is received.
I technically don’t do this but around but I like taking advantage on my rewards. During the holiday szn I buy a $1,000 prepaid visa to go shopping as I’ll get 6% back off my purchase giving me $60 in rewards if I buy anything at a grocery store.
minus the cost of the card -- 50 bucks, minus the cost of the order -- 10 bucks, minus the cost of travel - 10 bucks, plus cost of points = 10 bucks. You just netted 60 bucks in the whole. Good job.
notice what you're always coming up with something because you can't do it notice what??? White people have been doing this forever this is nothing new
Wow... And I thought I was a financial genius for buying a $50 gift card to Applebee's to get the $10 bonus card and just spend it all as $60 the next time I take my family out 🤣. Hey don't laugh... that's a 20% return!
@@justacinnamonbun8658 Exactly and at TGIFridays their rewards program is so generous that you can get multiple free entrees/appetizer/drink when you dine-in.
@The Honest Crook no. The persons right. And they never me tioned anything about legalities. Its the cards terms and conditions and when you get caught the trouble your in is losing/ getting your account closed and thats what they meant. So i think it should be your comment thats deleted.
They closed this loop hole after a a guy profited millions of dollars doing exactly this . After a lengthy court battle , judge ruled it was legal and he did nothing wrong , so all credit card companies changed their policies
@@ratedm90 He didn't. He bought gift card's for about 6400000$ the profit was above 300 000. The original comment just switched the numbers. It happened from 2009 - 2021, It's still good, but less impressive.
I have done it many times. Only once did a manager tell me I couldn't when she saw what card I was paying for. So it's not that it can't be done, but a select few managers just don't want it done. A gift card is a legitimate tender just like any other method of payment.
@@Seachange01120I don’t know how you did it cause I’ve tried a couple of stores and it just won’t let me buy a prepaid card with credit even if I mix it in with other purchases, only the other purchases goes through and it ask me to pay the vise another way
@@m4.hugo.426 nah, they can see what you buy, buying a prepaid card isn't a red flag(which good luck, most places are cash only and there's a fee for withdrawing cash on most cards), but doing it twice is a red flag.
Do you think that the credit cards companies will figure out certain patterns to where they notice creative way to do a cash advance. If it's over 500 would they consider it a cash advance if it's not allocated to a specific merchants, like a store. It's just a generic purchase so that you could spend your money in a different medium .
the problem is finding a store that will allow you to liquidate a gift card into a money order everybody act so funny when it comes to money orders and gift cards it's ridiculous if they sell them we should be able to use a gift card for the money order
But doesn't the prepaid debit card and the money order both charge extra fees? So instead of $1000 going back onto the credit card you're now only getting $985 or less
Theoretically yes, but card companies which give you spending rewards are smart. I’m not exactly sure on how, but here in Norway if you buy a gift card it shows itemized as “gift card” or “paygoo” or “prepaid Visa card” on the transaction list. Credit card companies will close down your card and if not your entire account, unless you are very very smart about it.
Even if you could slip this passed your CC lender, the fees associated with buying the gift card and buying the money order far outweigh the return in points. Not to mention the time and fuel cost doing this.
Okay... what about the intrest on cards, activation fees, money order fees. At a 2% cash back on credit cards what am i actually getting? Not to menchen gas.
First off can I use a credit card to purchase our money order for a debit card I've worked in retail a while so I don't know where you're getting that from you ain't about you credit card. Write a check pay for a check pay for any kind of debit cards again it's not allowed to purchase money order can't use it to prepare card
Idk where everyone is from but you can't buy a gift card like that using credit card. Only cash and debt can be used to buy those. Same thing applies to money order.
I work at Walmart and one of the CBLs mentioned this exact thing and it is considered “fraud” and it mentioned the “manufactured spend” term in the CBL. So Walmart already caught on to this lol And also most credit cards mention if you do any “manufactured spend” then they have the right to take back any cash back earned or even cancel your card altogether.
This doesn’t work. Credit cards know ways people try to turn it into money so really using Venmo with a different account to your real account with your credit card has limits of what your actually allowed to take out.
Do not buy a gift card you’ll pay sales tax, have 1 card with 250$ cash bonus for spending 2k in 6 months with 0% balance transfer, and another card with 5% cash back on something you already buy. Use the 5% cash back on card 2 and balance transfer to card 1. You will have made 350$ from credit card churning for spending the 2k you would have spent anyways
Yeah this sounds off. I mean I get what's he's trying to do but there's too much scamming as it is with gift cards and the retailers are telling their people to look out for weird kind of purchases.
I'm pretty sure gift cards and money orders both cost money. You'll end up doing all of this and profit maybe $1.25 in points. And you'll end up burning much more than that in gas. Not to mention that if the banks catch you doing this, as mentioned by others, they will terminate your account. Even if this worked it wouldn't be worth it.
It violates your terms, and most cards already dont give points for cash like transactions. You cant buy money orders with a gift card, it literally screams “scam”, and gift cards and money orders have fees that would just offset the points.
When I needed money to start my business without getting in trouble with my cc companies I had 50k in cc I went to a jewelry store and bought 50k of watches and sold them for 44k
![ฮักเทื่อสุดท้าย - บอย ศิริชัย [OFFICIAL MV]](http://i.ytimg.com/vi/-1PoPoQ-B-k/mqdefault.jpg)
![จบจนได้ ! | Black Myth: Wukong #007 [ตอนจบ?]](http://i.ytimg.com/vi/DSqvWndF0sw/mqdefault.jpg)
Do not do this, American Express when they catch you will close your account FOR LIFE!
He didn’t say use a Amex card to buy the gift card with. But your right Amex will shut you down if you use their card for manufactured spending
I just used my Amex card to donate to my own PayPal charity about a month ago. They haven’t closed my account yet.
@@P_Money_Man do you have a 501(c) 3?
@@P_Money_Man maybe because it was small and not many times done. But if u do it usually and there is too many records then bye
You can do this with any one other than Amex, but yeah don’t mess with Amex!
The confident in his face almost made me do it 😂.
If the banks discover you doing this you could be in violation for their user agreement so be careful
I plugged my extension cord into itself and have infinite electricity
Not really, you're looking at most at 1%in fees and at least 3% return from a major credit card company
😂😂😂
Type shit 😂
😂😂😂😂😂😂🔥🔥💪🏾💪🏾😂
😂😂😂😂😂😂😂😂
12.14.2023
Yeah except that doesn't work because activation and material fees on the gift card end up being more than the points.
What? The gift csrd is like 3$ to activate and iu can reload it for 2-3$ 6$ to get the card and load it with 1k for me i got 5$ of points spending like 150$ but depending where i go i can get like 40-60$ back in cashback doing this def worth it
@@supersean3 money orders aren’t free
Unless you have the discover it. On the first year where they match your first year's points and if the rotation falls in the month of 5x it becomes 9x
@@bizzzzzzle dawg they have like a $1 fee for a $1000 money order 🤣
If you know what you're doing, you can travel for cents on the dollar. You clearly don't know how to leverage the credit card points you get for the fees that you incur.
Most places won't take anything but cash for a money order.
Publix accepts cards to pay for money orders, other grocers do too
New title: *EASY* How to Get banned from all major credit card lenders!
How about just over pay your car insurance bill and ask for a refund in the form of a check
How would you get a refund on car insurance?
They will just apply the excess to the next billing cycle. The insurance already doesn't want to pay you when you file a claim. What makes you think they're going to refund your money to you when you overpay. The chances of the request is non existent especially if the payment has already posted. In order to refund you the money they can't refund you any of the amount until the amount that is actually due is received.
@@jenniferoviawe because my insurance company refunds me. I’ve done it.
My wife did this 3 months ago. Gave her a choice of leaving it for future monthly insurance or refund. She opted out for getting a refund.
I technically don’t do this but around but I like taking advantage on my rewards. During the holiday szn I buy a $1,000 prepaid visa to go shopping as I’ll get 6% back off my purchase giving me $60 in rewards if I buy anything at a grocery store.
This is a ancient trick. Credit card companies are shutting accounts down for this
minus the cost of the card -- 50 bucks, minus the cost of the order -- 10 bucks, minus the cost of travel - 10 bucks, plus cost of points = 10 bucks. You just netted 60 bucks in the whole. Good job.
What you do with the money you borrowed should be solely up to you. Burn it if you want. As long as you pay it back. IMO
Yep, big banks aren't going to notice 😂
notice what you're always coming up with something because you can't do it notice what??? White people have been doing this forever this is nothing new
@neosoulz4617 punctuation might help you because that did not make sense 😂 and they can see what you're buying so they are going to close your account
Good luck. Most Financial institutions are hip to it and will most likely close your account
Wow... And I thought I was a financial genius for buying a $50 gift card to Applebee's to get the $10 bonus card and just spend it all as $60 the next time I take my family out 🤣. Hey don't laugh... that's a 20% return!
@@justacinnamonbun8658 Exactly and at TGIFridays their rewards program is so generous that you can get multiple free entrees/appetizer/drink when you dine-in.
This is called MANUFACTURED SPENDING, DO NOT do this it will get you into a lot of trouble WHEN you get caught
@The Honest Crook no. The persons right. And they never me tioned anything about legalities. Its the cards terms and conditions and when you get caught the trouble your in is losing/ getting your account closed and thats what they meant. So i think it should be your comment thats deleted.
Not in trouble with the law if that was you trying to mentioned but yes you can get into money problems if you arent organized
I'm so scared 😅
They closed this loop hole after a a guy profited millions of dollars doing exactly this . After a lengthy court battle , judge ruled it was legal and he did nothing wrong , so all credit card companies changed their policies
Yea, was thinking the exact same thing
How did he make the millions?
@@ratedm90 He didn't. He bought gift card's for about 6400000$ the profit was above 300 000. The original comment just switched the numbers. It happened from 2009 - 2021, It's still good, but less impressive.
@@bhh8005 That’s not bad so he was making about 25k a year.
Yea and most places don’t even let you buy a money order with a prepaid gift card
🚩🚩🚩 DO NOT DO THIS WITH AMEX!!!!
Why
@@mnwatertreatment AMEX doesn’t mess around with manufactured spend. It will hurt your chances of getting AMEX credit cards in the future.
@@JoeSmoeDoeLow Why am I not surprised in Indian person is giving great customer service
Used to be able to buy money orders directly with credit cards..people would rack up their air miles lol
Don’t try this, grocery stores will not let you use a prepaid gift card to purchase money orders.
I have done it many times. Only once did a manager tell me I couldn't when she saw what card I was paying for. So it's not that it can't be done, but a select few managers just don't want it done. A gift card is a legitimate tender just like any other method of payment.
@@Seachange01120I don’t know how you did it cause I’ve tried a couple of stores and it just won’t let me buy a prepaid card with credit even if I mix it in with other purchases, only the other purchases goes through and it ask me to pay the vise another way
Exactly because your actual name has to be on the card and match your government issued drivers licence or i.d
Fact I tried
But u can download prepaid 2 cash out ur gift card on ur and they will deposit to ur bank account fee is like 30 dollars for 500
You need cash or debit for a visa gift card additionally if you get a visa gift card over 300 dollars they ask for ID
What retailer and how long ago did that happen?
CVS wallgreens
Yeah. This goes agains all credit cards terms and conditions. You will get caught and they will close your accounts. Lol
What if you do 2 grand a month. Kinda hard to catch you I think
@@m4.hugo.426 nah, they can see what you buy, buying a prepaid card isn't a red flag(which good luck, most places are cash only and there's a fee for withdrawing cash on most cards), but doing it twice is a red flag.
That’s why mfs is broke y’all scared
That creepy grin says it all
When you get a cash visa or master card I believe it charges a fee. So you buy a 100 dollar card but pay 103 dollars
This does not work! I am stuck with these visa gift cards because no store accepts them for money order purchase!! Beware!!!
Just pay your bills with them.
I've tried to use my credit card to buy a visa gift card. At checkout the cashier informed me I needed to pay with cash or debit for the card.
What retailer?
The only way the loop hole works is if you buy and sell gold at market price
So go buy gold with credit card.then sale back for cash right?
Except when the CC quickly finds you gaming the system and scratches back those bonus points. 😂
In order to do this you need to have a line of credit open with a different bank than your primary
Do you think that the credit cards companies will figure out certain patterns to where they notice creative way to do a cash advance. If it's over 500 would they consider it a cash advance if it's not allocated to a specific merchants, like a store. It's just a generic purchase so that you could spend your money in a different medium .
Except those card from Simon mall have a fee, lol
Buying money orders have fees too, doesn't it?
the problem is finding a store that will allow you to liquidate a gift card into a money order everybody act so funny when it comes to money orders and gift cards it's ridiculous if they sell them we should be able to use a gift card for the money order
But doesn't the prepaid debit card and the money order both charge extra fees? So instead of $1000 going back onto the credit card you're now only getting $985 or less
Can you do this with other stores such Walmart, home depot, lowes, and target? All of them sell gift cards.
Not only that , also you have to pay for money orders and those prepaid cards
Theoretically yes, but card companies which give you spending rewards are smart. I’m not exactly sure on how, but here in Norway if you buy a gift card it shows itemized as “gift card” or “paygoo” or “prepaid Visa card” on the transaction list. Credit card companies will close down your card and if not your entire account, unless you are very very smart about it.
I’m pretty sure this actually goes against the clause you sign
If u have navy fed u can get a go prepaid debit card connect ur credit card and take out 1k a day
This feel illegal xD
Not illegal. Just against terms of service. Would probably get you shit down and blacklisted with that bank.
What about using Amex to buy money orders at usps
Now they classify it as a cash advance
that would be a rookie mistake, call the credit card company and request that your cash advance be set at 0.
Even if you could slip this passed your CC lender, the fees associated with buying the gift card and buying the money order far outweigh the return in points. Not to mention the time and fuel cost doing this.
Okay... what about the intrest on cards, activation fees, money order fees. At a 2% cash back on credit cards what am i actually getting? Not to menchen gas.
First off can I use a credit card to purchase our money order for a debit card I've worked in retail a while so I don't know where you're getting that from you ain't about you credit card. Write a check pay for a check pay for any kind of debit cards again it's not allowed to purchase money order can't use it to prepare card
Exactly, you can’t buy gift debit cards with credit cards
@@AmeerCruz you can. I worked at a staple. And ppl from r/churning teached me a lesson. One third of the sale is vanilla visa card
Fax 💯
This Manufactured spending and most credit card company’s have this in there terms of service as validation to be able to close your accounts
Idk where everyone is from but you can't buy a gift card like that using credit card. Only cash and debt can be used to buy those. Same thing applies to money order.
Could I use credit card on cash app to send the money to someone else and then get it back to pay it off!??
ye the fee to buy a money order is much more then the points
That's what theifs do when they steal your wallet
You could just use a cash advance promo offered by your credit card with 0% interest
Most places don't let you buy a gift card with a credit card
Most will let you buy actual gift cards, just not pure Visa gift cards.
Most places? You’ve never been in a Walgreens or CVS then 😂😂😂
@@CallMeLTR haha
You can do this with paypal lol , why the headache ?
How ?
Why couldn’t you buy the money orders with Amex and cut out the gift card?
If you put it in prepaid card , can you take the cash out instead?? I'd rather do that
Oooooh I get it now lol
12.14.2023
I’m not saying that this does or does not work but that is called manufactured spend and credit card companies nowadays are more and more onto this.
Brilliant 😊
And that’s how you laundry money
My capital one denied the card purchase
I work at Walmart and one of the CBLs mentioned this exact thing and it is considered “fraud” and it mentioned the “manufactured spend” term in the CBL. So Walmart already caught on to this lol
And also most credit cards mention if you do any “manufactured spend” then they have the right to take back any cash back earned or even cancel your card altogether.
The fees on the prepaid debit plus the fees for printing money orders make this a great way to waste your money.
There are no fees involved? For the prepaid card or the money order?
Pre paid card is $3.95 and walmart money orders are $1
you need cash to buy the money order so how does it work??
Dmmm 🤯
Help
Ahh it’s a $1 sacrifice for the money order nooooo😩🤯🤯
Can you sue this guy for false info? I just think people offering advice like this should be held liable for what they spread
Well, go ahead. You'll lose...
Definitely not. You don't have to do what he is saying
This is exactly how do you get your credit card shut off
You’ll be buying it as a cash advance which charged at 20% p.a. interest and get slugged fees for buying gift cards in Australia
This doesn’t work. Credit cards know ways people try to turn it into money so really using Venmo with a different account to your real account with your credit card has limits of what your actually allowed to take out.
who said anything about venmo?
@@DeFiBully that’s one thing worth mentioning but you also can’t buy gift debt cards with credit cards
Do not buy a gift card you’ll pay sales tax, have 1 card with 250$ cash bonus for spending 2k in 6 months with 0% balance transfer, and another card with 5% cash back on something you already buy. Use the 5% cash back on card 2 and balance transfer to card 1. You will have made 350$ from credit card churning for spending the 2k you would have spent anyways
I hope the APR on your credit card is -10%.
Yeah this sounds off. I mean I get what's he's trying to do but there's too much scamming as it is with gift cards and the retailers are telling their people to look out for weird kind of purchases.
Now u hv a credit card bill.... Y
I'm pretty sure gift cards and money orders both cost money. You'll end up doing all of this and profit maybe $1.25 in points. And you'll end up burning much more than that in gas. Not to mention that if the banks catch you doing this, as mentioned by others, they will terminate your account. Even if this worked it wouldn't be worth it.
Why people be talking about this play? Walmart will not let you buy money order with a gift card or pre paid card. It’s in their policy.
Yeah, this was legal at one point. But now credit card companies have cracked down on it. Unfortunately, you can't do this anymore.
thanks
Yes because Money orders are free
Don’t they close your account when you do that?
Only person making money from this video is this bold guy 🤦🏻♀️🙄
It violates your terms, and most cards already dont give points for cash like transactions. You cant buy money orders with a gift card, it literally screams “scam”, and gift cards and money orders have fees that would just offset the points.
Money orders cost money. Not a good plan.
you did not just release this video of what a guy did and now is not allowed to be don’t to banks
Does this still work ? Don’t know how old this video is ? Its 2023 ?
Money orders have a fee also
Does that really work?
Good luck buying 1000$ debit gift cards anywhere. Most places limit amounts and monitor sales because scammers try and use them often.
When I needed money to start my business without getting in trouble with my cc companies I had 50k in cc I went to a jewelry store and bought 50k of watches and sold them for 44k
And now my business is doing well and of course I lost 6k but I have since paid off all my cc and now have about 80k available.
Wait-- where can you buy a gift card using a credit card?
Publix, I've done it.
Venmo is the best
Notice he never tells you how much points he made off of this? 😂
I though this page is all about helping people with credit? You just book yourself a first class oneway to never see a credit card anymore 😅
You can't buy money orders with a prepaid gift card..
Can't I just buy a money order with my credit card?
But won't this be a cash advance
No..he is not "withdrawing money" (cash advance) from the credit card..he used it to "purchase" the gift card.
Nope you dont need to do the money order part.😊
In the European Union, this is not allowed. It is called fabricated spending. You guys are lucky in the US.
This no longer works credit card companies aren't clueless and you just posted this publicly so it's nothing new