Who here does MS?

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SClay
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Postby SClay » Wed Oct 09, 2013 2:07 am

nvtech wrote:Guys..I should be considered new...Mind boggling but no clue what you guys are talking about. Can you PM?


Absolutely ridiculous that the OP said "If you don't know what MS is, please don't ask....". This forum is widely used for advice and help and the fact you can't simply tell someone what MS is is stupid.

So to anyone who is willing to answer the question, what is MS?
Capital One Secured AU | $1851 | 10/2013
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TheLethargicAge
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Postby TheLethargicAge » Wed Oct 09, 2013 9:14 am

SClay wrote:Absolutely ridiculous that the OP said "If you don't know what MS is, please don't ask....". This forum is widely used for advice and help and the fact you can't simply tell someone what MS is is stupid.

So to anyone who is willing to answer the question, what is MS?


MS = Manufactured spending
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

cashback
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Postby cashback » Wed Oct 09, 2013 9:15 am

SClay wrote:So to anyone who is willing to answer the question, what is MS?


It's various ways to profit off of CC companies' generous and often unwise rewards programs. It is somewhat secretive because if everyone did it, it would go away.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

whit
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Postby whit » Wed Oct 09, 2013 9:45 am

It only took me a minute of googling and clicking to find out what MS was (I freely admit my noobness with this subject matter, has no idea what it was)

And also to see that it's causing people with certain cards popular for this to be shut down and the points taken away

You know sooner or later that they'll find out if not through pattern most likely through sites like flyer -- after all they have people dedicated to social media outlets like twitter and this just isn't cc companies, retailers monitor eBay and such for resellers

The funny thing is people think they're sticking it to the big companies but the CEOs, their bonuses and salaries don't shrink but you can bet your reward systems will change if the closure of several individual ccs don't stop the bleeding, if the bleeding is great enough to affect their bottom line.

And the people who work there, will have to work hard to get profits up even higher and keep expenses back a lot more if they want a decent raise much less a bonus

Basically it's always cut elsewhere when they need to make up the deficits; and its always the average joe

cashback
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Postby cashback » Wed Oct 09, 2013 10:07 am

whit wrote:You know sooner or later that they'll find out if not through pattern most likely through sites like flyer -- after all they have people dedicated to social media outlets like twitter and this just isn't cc companies, retailers monitor eBay and such for resellers

The funny thing is people think they're sticking it to the big companies but the CEOs, their bonuses and salaries don't shrink but you can bet your reward systems will change if the closure of several individual ccs don't stop the bleeding, if the bleeding is great enough to affect their bottom line.



Exactly why its not openly explained. If you do the research you can find out. Most people think its "too much work." But spending 40 hours a month for a 4K check is well worth it to me. You could spend much less time if you only made 1K a month (about 2 or 3 hours). It gets more time consuming after that.

I'm well aware that the rewards system will shrink, that's why you get it while you can. If you're not doing it, you can bet ten other people are anyways.

You'd be surprised at how terrible some banks' internal controls are. The percentage of people getting shut down is actually pretty low. The only people complaining are the ones shut down (obviously).

And even paying out all the rewards money, banks make plenty of money when they are allowed to charge a 25%+ interest rate.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

FutureBillionaire
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Postby FutureBillionaire » Wed Oct 09, 2013 10:31 am

These banks aren't losing money overall. If they are, it's because they got caught with their hand in the cookie jar during that shady mortgage crisis.

My only problem with MS is those who are excessively greedy to the point that they kill a deal. For instance, those folks trying to sell fuel points. Now, we can't get them anymore. Sometimes it makes sense to make a nominal amount over an extended period of time, rather than exploit it quickly and draw the ire of the issuer/retailer.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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djrez4
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Postby djrez4 » Wed Oct 09, 2013 5:48 pm

cashback wrote:... spending 40 hours a month for a 4K check is well worth it to me. You could spend much less time if you only made 1K a month (about 2 or 3 hours). It gets more time consuming after that


Heck - that's more than I ever do. As long as I can provide my wife an annual vacation to some foreign country without going significantly out of pocket, I'm content.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

FutureBillionaire
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Postby FutureBillionaire » Wed Oct 09, 2013 6:21 pm

djrez4 wrote:Heck - that's more than I ever do. As long as I can provide my wife an annual vacation to some foreign country without going significantly out of pocket, I'm content.


I've used mine to fly domestic for free for the most part. I'm also saving up for a honeymoon. I like to defray the costs of normal items as well. I think I will ramp up my churn next year after I get my next bonus and raise.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

cashback
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Postby cashback » Wed Oct 09, 2013 8:06 pm

djrez4 wrote:Heck - that's more than I ever do. As long as I can provide my wife an annual vacation to some foreign country without going significantly out of pocket, I'm content.


Yeah. To each his own. I treat it like a job. $100/hr tax free isn't bad. Besides, its a time limited promo, so I gotta make the most of it.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

whit
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Postby whit » Wed Oct 09, 2013 9:08 pm

FutureBillionaire wrote:These banks aren't losing money overall. If they are, it's because they got caught with their hand in the cookie jar during that shady mortgage crisis.

My only problem with MS is those who are excessively greedy to the point that they kill a deal. For instance, those folks trying to sell fuel points. Now, we can't get them anymore. Sometimes it makes sense to make a nominal amount over an extended period of time, rather than exploit it quickly and draw the ire of the issuer/retailer.


it takes two to tango...there are sooooo many reasons. people who refi--people who brought houses where they couldn't take on that type of debt--bankers who were rewarded for getting mortgages done therefore just allowed people to apply and if they get it they get it..

and banks who let these deals go on

which is why now the regulations involving getting a mortgage, getting a refi..heck even a credit card, is much stricter.

i think it's a never ending cycle, yes, banks have high interest rates, they need to have extra $$ in case someone defaults and they can only recoup a certain amount. and yes, people default and take on loans/cc debt they cannot repay.

its always the ones who play by the rules that end up paying.



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