How To Turn Credit Into Cash: Manufactured Spending

[chiefexecutive]

Do not do this, American Express when they catch you will close your account FOR LIFE!

[joselo]

The confident in his face almost made me do it 😂.

[msaucedo]

If the banks discover you doing this you could be in violation for their user agreement so be careful

[Pangeaa]

I plugged my extension cord into itself and have infinite electricity

[Slothacious]

Yeah except that doesn't work because activation and material fees on the gift card end up being more than the points.

[cgrand]

I'm just glad i read all the comments, because i was about to go out, and do what the gentleman in the video said to do. Thanks guys! 👍🏾

[usthegoat]

New title: *EASY* How to Get banned from all major credit card lenders!

[elisataylor]

Most places won't take anything but cash for a money order.

[jamarmoore]

How about just over pay your car insurance bill and ask for a refund in the form of a check

[stylncrue]

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

[evanchisamorejohnston]

This is called MANUFACTURED SPENDING, DO NOT do this it will get you into a lot of trouble WHEN you get caught

[jayfun]

This is a ancient trick. Credit card companies are shutting accounts down for this

[dtoad]

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.

[danielwoods]

Good luck. Most Financial institutions are hip to it and will most likely close your account

[Kikester]

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.

[JasonIngraham]

Don’t try this, grocery stores will not let you use a prepaid gift card to purchase money orders.

[cubanb]

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

[enriquelinares]

Yeah. This goes agains all credit cards terms and conditions. You will get caught and they will close your accounts. Lol

[aaronstuart]

Yep, big banks aren't going to notice 😂

[dawsondesantis]

The only way the loop hole works is if you buy and sell gold at market price