Great content. Not once did you ask for any money and it’s channels like these people don’t watch because of subscriber count and view count but it’s channels like this (size) that really give knowledge
So basically if I get a credit card with a limit of 500$ I can send It To Someone And they can send it back to another account and I can put it back and gain the points???
I wish Dan had replied personally, but I think it's when the sign-up bonuses of a credit card outweigh the fees from paypal - or any other methods mentioned in this vid.
It's if you are using a lot of credit cards at once. You don't spend that much on personal items so you need to offset it with fake spending. You don't get the cash back or other immediate benefit of the card but you reach the spending limit and possibly achieve a bigger bonus. EG a card may need you to spend $5000 in the first 6 months of ownership in order to get 10,000 points.
LOL I got it in Malta for 3EUR. I tried living there for 2 weeks as a potential new home. It was nice, but getting around the city is very difficult by public transportation or walking. I still recommend it to people for travel.
Hey Dan great video. When it comes to sending money to someone through services like Paypal or Venmo to "manufacture spend" does it only count when you send to a friend or family member, or could you also send it to a bank account belonging to a business or company.
Hi Adichu! This is Team Dan! Reach out to us so we could discuss more about it. Join here discord.gg/SRjqWCJu6t Visit us at linktr.ee/fullvalueclub and be updated!
In some cases, yes. For PayPal, just make sure you pay the 3% fee for "purchasing goods/services". Try a small amount as a test. If your bank charges a cash advance fee, ask them to waive it because you bought something and didn't know it was going to be a cash advance. I was successful in getting cash advance fees waived from trying to buy bitcoin with a credit card years ago.
Great way to earn reward points but how does that help you DTI percentage Stay low and how does turning into cash help you earn a profit Or keep your credit card utilization before 20%? You are washing the money but paying it back to your card that you owe, help me understand this concept of manufacturing money. Sounds like you just want points and careless how you get it. Now I like the idea of using your unsecured credit card to buy stocks so you can earn reward points and a chance to grow your money in the market if you buy and hold. But the credit card needs to be paid down regardless right?
in your article you suggested $200/ month for a few month using PayPal , video however was $500 once a week , which one is it to make it legit ? Thank you
Good question! I updated the article because I was working with someone on some PayPal MS and their account got flagged. They had an old PayPal account with not much transaction history. Their account wasn't locked, but the money was held by PayPal for several transactions for 24 hours due to suspicious activity. We were doing about $5 transactions 3x/day. They didn't have to verify anything with PayPal and the funds were released after 24 hours. My recommendation is to ease into PayPal and make sure the transactions are 1 way. Once you have an established history, it's less likely you'll get flagged for higher volume transactions.
awesome video thanks dan, I had a question regarding when it comes to tax time, would you count it as a business expense when the funds comes out of your bank account?
That's a good question. I haven't tried trying to expense the cost of manufacture spending since I'm making more off the sign up bonus. None of the actual MS'ing is counting as profit/income so I haven't had an issue just leaving it off my taxes. Although, I don't MS that much. The most I've done in recent years was $20k. When Google Pay came out (years ago) I was doing $50k a month because there were no fees. They banned me from using their service...at least with just that account.
Credit card rewards are viewed as a “rebate” or discount on purchases and not as a profit-generating Avenue. Because manufacture spend (MS) is such an incredibly niche activity, it usually ends up falling into the same class. Thus, MS is not a taxable event meaning you can’t take deductions for the various fees you generate for performing it, and there is no need to anyway because as I wrote above, it’s not taxable.
How do $25 Amazon gift cards sell for $30. Why would someone buy a card for more when they can just go to any major grocery store and buy it at face value? What did I miss. Also with the gift card or credit gift card thing. Are you saying you buy them with a credit card and then use them to buy money orders to cash them out just to pay back the credit ? In this scenario you are doing this for the points or cash back percentage that the card gives you? If you pay 2-3% for the credit give card, and cash back is let’s say 4% or 5% going through all of that work to earn 1-2% sounds a bit extreme, especially if it’s not a seamless process with places like Walmart and in order to get large sums of funds you would have to spend large sums which would stand out as fraud more so than micro transactions, but if using micro transactions you would have to go many times to different locations just to increase your volume in profits. Sounds like a headache, but am I following what your saying correctly?
I know, right? I'm guessing people are burning their ebay reward points or are burning through points on leaked accounts. Yes, that was a common practice up until recently. Most people were converting gift cards into money orders at Walmart but that process was officially shut down a few weeks ago: frequentmiler.com/walmart-manufactured-spending-policy-memo/ You are following correctly, but the fees were coming out about 1% overall with the now dead process.
You are thinking of gift cards not prepaid debit cards there are fees for instance you use a debit card at a atm to remove cash with a gift card you can't wow man and i thought more people understood how this worked now i see why it was such a secret society
I believe it’s just so you can get the cash off the credit card, using gift cards at zero percent interest on the credit card. I believe the store charges for gift cards also.
It's so hard to buy gift cards in LA. Stockpile is my go-to. (not financial advice) I would buy $1500 in a green energy ETF (with the potential new funding for green energy from the proposed Biden stimulus plan) or an Index fund
@@FullValueDan I bought one yesterday! It was a Vanilla Visa from CVS for $500. My card actually declined (got a text saying it was potentially fraud) but I tried again and it went through
@@0pmbabi There's a lot. One really popular one is ICLN right now. Checkout ETF.com and search for ICLN. That will lead to related ETFs with similar stocks in the same sector.
Buying cards is not hard liquidating them is the hard part also you don’t tell them its a gift cards either you tell them its debit and to be honest you don't have the looks nor the know how to even pull it off people are making their own cards without the gift card printed on it with the numbers off the prepaid debit card and its 100% legal you are allowed to design your own debit card anyway you want its yours you paid for it
These are all highly risky approaches to manufactured spending. Most of these involve arbitrage which are a liquidity risk. You may find it hard to get your money out and pay your credit card off in due time. Using stockpile is also unnecessary, a standard brokerage account has margin which will give you a lower interest rate than a credit card. Good ideas in this video, however risky they may be.
Nope, in the US you don't pay taxes on stocks unless your capital gains are over $39k. Since im breaking even with no significant gain there's no tax issues to worry about :)
Yea thats not right. You don't have to pay taxes if your total income is under 39k(or whatever income threshold it is for the filing year), not just if your capital gains are under 39k
Because you are using prepaid debit debit cards that are filled at stores where you load them the registers are coded to scan it as groceries not buying and adding money aka a cash advance
Will I get banned if I just got the Amex platinum and I want to go buy $500 cards cards over the course of a week and then get a money order and pay the order with the Visa cards then put the order into my bank to pay the card to get my welcome bonus?
That sound good too.. is he saying that you can basically get a credit card with a limit of 500$ and send It To Someone And they can send it back to another account and I can put it back and gain the points???
. Rebate key isn't going to get Large Spend. And why would I Pay 3% on Paypal on a maximum 2% Cashback Card? Another fail. I need free or maximum 1% Cost Manufactured Spending. Plus people DO get their accounts frozen as u mentioned, so this is not scalable. LOL, I can run through a Square reader for 3%. I'm looking for free MS. None of these you mentioned are easy or free. And I am not risking on stockpile. This video was a waste.
@@captainsavem You're replying to something I wrote 2 Months ago, but there is free MS. Funding bank accounts with CCs. I found a CU that lets me open as many accounts as I want with CCs & posts as "purchases". Obviously, I found this after I wrote the old post above.
![Ultimate Beginner's Guide to Credit Card Points in 2024 [Updated]](http://i.ytimg.com/vi/qu47ulGpHDo/mqdefault.jpg)
Great content. Not once did you ask for any money and it’s channels like these people don’t watch because of subscriber count and view count but it’s channels like this (size) that really give knowledge
L❤llllll❤l❤❤❤❤❤ just ❤❤❤p😅 3:02
Info starts at @1:47
So basically if I get a credit card with a limit of 500$ I can send It To Someone And they can send it back to another account and I can put it back and gain the points???
Also would this work with any credit card?
@45 Jugga what is a cash back card??? give me a example of one my G
I think I’m missing the benefit of a PayPal churn, what is to be gained if you’re spending money to send it through? Great video btw, I’m fascinated.
I wish Dan had replied personally, but I think it's when the sign-up bonuses of a credit card outweigh the fees from paypal - or any other methods mentioned in this vid.
It's if you are using a lot of credit cards at once. You don't spend that much on personal items so you need to offset it with fake spending. You don't get the cash back or other immediate benefit of the card but you reach the spending limit and possibly achieve a bigger bonus. EG a card may need you to spend $5000 in the first 6 months of ownership in order to get 10,000 points.
@@iloveyouamberappel I Know, but why would I Pay a Fee to Paypal? There are free ways to MS.
@@jackwilliams5474 Yup. I am not endorsing using Paypal at all.
Why would someone pay $30 for a $25 amazon gift card?
I have no ideas but after I saw this question I went to eBay. Folks are actually bidding like crazy on them
Money laundering
Were did you get Malta Tshirt from? Just asking since I lived there as a kid, great place to growup!
LOL I got it in Malta for 3EUR. I tried living there for 2 weeks as a potential new home. It was nice, but getting around the city is very difficult by public transportation or walking. I still recommend it to people for travel.
awesome video...fun and funny!
Hey Dan great video. When it comes to sending money to someone through services like Paypal or Venmo to "manufacture spend" does it only count when you send to a friend or family member, or could you also send it to a bank account belonging to a business or company.
Hi Adichu! This is Team Dan! Reach out to us so we could discuss more about it. Join here
discord.gg/SRjqWCJu6t
Visit us at linktr.ee/fullvalueclub and be updated!
this vid deserves the like
I like the PayPal Venmo method
Explain to me why banks stores and companies can move there money around and make money off doing it but if i do it its fraud ?
Easy They create the sistem so they can breake it
Lol when you 🤬 out FR$
If you use paypal, cash app or venmo, won't the bank charge that as a cash advance?
In some cases, yes. For PayPal, just make sure you pay the 3% fee for "purchasing goods/services". Try a small amount as a test. If your bank charges a cash advance fee, ask them to waive it because you bought something and didn't know it was going to be a cash advance. I was successful in getting cash advance fees waived from trying to buy bitcoin with a credit card years ago.
@@FullValueDan 3% is way too high for regular MS.
Great way to earn reward points but how does that help you DTI percentage Stay low and how does turning into cash help you earn a profit Or keep your credit card utilization before 20%? You are washing the money but paying it back to your card that you owe, help me understand this concept of manufacturing money. Sounds like you just want points and careless how you get it. Now I like the idea of using your unsecured credit card to buy stocks so you can earn reward points and a chance to grow your money in the market if you buy and hold. But the credit card needs to be paid down regardless right?
Is stockpile an App?
in your article you suggested $200/ month for a few month using PayPal , video however was $500 once a week , which one is it to make it legit ? Thank you
Good question! I updated the article because I was working with someone on some PayPal MS and their account got flagged. They had an old PayPal account with not much transaction history. Their account wasn't locked, but the money was held by PayPal for several transactions for 24 hours due to suspicious activity. We were doing about $5 transactions 3x/day. They didn't have to verify anything with PayPal and the funds were released after 24 hours.
My recommendation is to ease into PayPal and make sure the transactions are 1 way. Once you have an established history, it's less likely you'll get flagged for higher volume transactions.
awesome video thanks dan, I had a question regarding when it comes to tax time, would you count it as a business expense when the funds comes out of your bank account?
That's a good question. I haven't tried trying to expense the cost of manufacture spending since I'm making more off the sign up bonus. None of the actual MS'ing is counting as profit/income so I haven't had an issue just leaving it off my taxes. Although, I don't MS that much. The most I've done in recent years was $20k. When Google Pay came out (years ago) I was doing $50k a month because there were no fees. They banned me from using their service...at least with just that account.
@@FullValueDan oh wow never heard of using google pay, why did you stop manufacturing spending as often as you use to?
Credit card rewards are viewed as a “rebate” or discount on purchases and not as a profit-generating Avenue. Because manufacture spend (MS) is such an incredibly niche activity, it usually ends up falling into the same class.
Thus, MS is not a taxable event meaning you can’t take deductions for the various fees you generate for performing it, and there is no need to anyway because as I wrote above, it’s not taxable.
@@FullValueDan wow 50k/month, that's crazy, ha!
How did your brother get the $30 at 6:55
Dr of credit? Is that what the website is?
Pretty close www.doctorofcredit.com/
How do $25 Amazon gift cards sell for $30. Why would someone buy a card for more when they can just go to any major grocery store and buy it at face value? What did I miss.
Also with the gift card or credit gift card thing. Are you saying you buy them with a credit card and then use them to buy money orders to cash them out just to pay back the credit ?
In this scenario you are doing this for the points or cash back percentage that the card gives you? If you pay 2-3% for the credit give card, and cash back is let’s say 4% or 5% going through all of that work to earn 1-2% sounds a bit extreme, especially if it’s not a seamless process with places like Walmart and in order to get large sums of funds you would have to spend large sums which would stand out as fraud more so than micro transactions, but if using micro transactions you would have to go many times to different locations just to increase your volume in profits. Sounds like a headache, but am I following what your saying correctly?
I know, right? I'm guessing people are burning their ebay reward points or are burning through points on leaked accounts.
Yes, that was a common practice up until recently. Most people were converting gift cards into money orders at Walmart but that process was officially shut down a few weeks ago: frequentmiler.com/walmart-manufactured-spending-policy-memo/
You are following correctly, but the fees were coming out about 1% overall with the now dead process.
@@FullValueDan ah. Ok. Thanks for the response and the content. Definitely appreciate the information. I’m a bit late to the party.
Salute!
You are thinking of gift cards not prepaid debit cards there are fees for instance you use a debit card at a atm to remove cash with a gift card you can't wow man and i thought more people understood how this worked now i see why it was such a secret society
I believe it’s just so you can get the cash off the credit card, using gift cards at zero percent interest on the credit card. I believe the store charges for gift cards also.
Yure right but my question is which site can will used credit to buy items from
Most of these are no longer valid for Chase.
Why?
What credit cards did you use for the MS
I only MS for sign up bonuses. Most recently the Capital One Venture
Thats kinda a dumb question that would depend on your credit and what cards you can get a 535 and a 827 isn't the same
@@22koga the only dumb question is the question not asked genius.
I also live in Los Angeles and wanted to go buy gift cards today 🤣 I need to spend $1500 in 2 weeks and have nothing buy
It's so hard to buy gift cards in LA. Stockpile is my go-to. (not financial advice) I would buy $1500 in a green energy ETF (with the potential new funding for green energy from the proposed Biden stimulus plan) or an Index fund
@@FullValueDan I bought one yesterday! It was a Vanilla Visa from CVS for $500. My card actually declined (got a text saying it was potentially fraud) but I tried again and it went through
@@FullValueDan oooh I’m interested what is the green energy ETF ticker symbol
@@0pmbabi There's a lot. One really popular one is ICLN right now. Checkout ETF.com and search for ICLN. That will lead to related ETFs with similar stocks in the same sector.
Buying cards is not hard liquidating them is the hard part also you don’t tell them its a gift cards either you tell them its debit and to be honest you don't have the looks nor the know how to even pull it off people are making their own cards without the gift card printed on it with the numbers off the prepaid debit card and its 100% legal you are allowed to design your own debit card anyway you want its yours you paid for it
These are all highly risky approaches to manufactured spending. Most of these involve arbitrage which are a liquidity risk. You may find it hard to get your money out and pay your credit card off in due time.
Using stockpile is also unnecessary, a standard brokerage account has margin which will give you a lower interest rate than a credit card.
Good ideas in this video, however risky they may be.
Ya, I didn't like these ideas. What if nobody buys what you're selling? There have to be better ways.
Dude aren’t you going to have to pay a lot of taxes when you sell your stocks ?
Nope, in the US you don't pay taxes on stocks unless your capital gains are over $39k. Since im breaking even with no significant gain there's no tax issues to worry about :)
@@FullValueDan You smart man. Thanks for this info.
Yea thats not right. You don't have to pay taxes if your total income is under 39k(or whatever income threshold it is for the filing year), not just if your capital gains are under 39k
How do PayPal and bank account funding not count as a cash advance?
Because you are using prepaid debit debit cards that are filled at stores where you load them the registers are coded to scan it as groceries not buying and adding money aka a cash advance
None of these are free nor easy.
Will I get banned if I just got the Amex platinum and I want to go buy $500 cards cards over the course of a week and then get a money order and pay the order with the Visa cards then put the order into my bank to pay the card to get my welcome bonus?
That sound good too.. is he saying that you can basically get a credit card with a limit of 500$ and send It To Someone And they can send it back to another account and I can put it back and gain the points???
How did it work out with the cards lol
How’d it work out for you steve?
PayPal invoices are better
Sounds fraudulent if pay pal Is going to freeze your account...I’d happily stay away from that;)
. Rebate key isn't going to get Large Spend. And why would I Pay 3% on Paypal on a maximum 2% Cashback Card? Another fail. I need free or maximum 1% Cost Manufactured Spending. Plus people DO get their accounts frozen as u mentioned, so this is not scalable. LOL, I can run through a Square reader for 3%. I'm looking for free MS. None of these you mentioned are easy or free. And I am not risking on stockpile. This video was a waste.
nobody is gonna give up their breadwinner; theres no such thing as free MS. theres always gonna be a fee and/or margin that lets you come out ahead
@@captainsavem You're replying to something I wrote 2 Months ago, but there is free MS. Funding bank accounts with CCs. I found a CU that lets me open as many accounts as I want with CCs & posts as "purchases". Obviously, I found this after I wrote the old post above.
@@jackwilliams5223 what’s your CU?
some ppl’s friends and families are completely untrustworthy
just transfer the balance of the gift card to venmo and then transfer that balance to your bank account