I’ve shared this method privately to a few people on spending $10,000 quickly for the AMEX Business Platinum card where you buy $10,000 worth for a cost about $25. The second $10,000 doesn’t have me concerned, but I’ve got my thinking cap on. As with many minimum spend requirements, I like to knock it out before the 90 days and spend about $200 or so over just in case something comes up.
At this point, the easiest way is buying American Express gift cards and then liquidating into prepaid cards is the path of least resistance. Who wants to learn or read about that method? I am thinking of buying approximately $10,000 worth of AMEX gift cards and then liquidating it online into more gift cards where I will finally be able to sell the cards. At this time I’m looking at a Gyft route (more than likely) or CashStar unless some super, giant portal bonus pops up and that will ultimately change everything.
The Gyft route is better because there’s the opportunity to earn a portal bonus which will lower the average cost basis.
I purchased 10k of Amex CG just before Red card died. I do not know a way to liquidate them. How do you do it with buying other gift cards?
Thank you
I would be using the AGC online like a regular credit card buying up other gift cards, if the opportunity comes up in the next 90 days on eBay I’ll be doing that
Could you not just double your method for additional 10k and be done with the 20k spending for about 50 bucks total?
That might not help with the challenge, but would be a nice way to meet min spend in the future.
I wish KP – but there’s a cap of $10k
So what is the first method for $25???
If he was going to out it, he would have in the post. As he didn’t, you fell for a clickbait headline.
If Chasing the Points was going for clickbait, he would’ve set a more exploitative title. I think if you put a little work into it, and ask nicely, he’ll share his method. Or, you know, you could just throw the “clickbait” sticker and more on.
He did out it. Read the post again. Helps me to think outside the box as I have a bunch to liquidate as well.
“outed” the second 10k as AGCs & Gyft, but not before providing a one-liner about a $10k for $25 method he has shared privately. Why do that? It’s only going to annoy people.
Thanks Deal Mommy
It’s definitely going to annoy folks who want everything spelled out (and then the thing dies).
For the inquisitive ones, it’s an opportunity to explore things and possibly learn something new in the process. Since chasingthepoints mostly does GC churning, it is definitely related to that. Does not help much, but helps to narrow down focus area.
If people didn’t want everything spelled out and did novel research…They wouldn’t be reading a blog of this caliber….
I do not mind giving the clicks to build followers but really need to give a bit more info
As for everyone else who seems to have an issue, the key word in the post was privately. If you wanted to know it, there’s an easy way to reach me as many other people have already done
Point well taken! You have my email address–any guidance would be appreciated
Few questions on the 10k for $25:
1. Are you considering point values when coming up with the $25 cost? For example, if you earn 10k UR points that you value at 1c a point, are you reducing $100 from the final “out of pocket cost” to arrive at the final $25?
2. Is the 10k a monthly cap or lifetime cap?
For question 1, it is the actual cost. Average cents per point would be $.0026.
2. – it would be a yearly cap
Well since there is “another” KP, I will use my full last name to distinguish myself (To differentiate I am your fellow gift card churner who interacted before regarding 1099 questions of gift card resell).
I just started reading about this challenge now. $25 for 10K is not bad, but I know you could have done better pal… I learnt basics from you and Chuck (of DoC) and I had done much better in last 4 months- $26000 at a profit of $990. I know you could do better if the environment of Gift Card Churn hasn’t become somewhat unpredictable.
Hi K Patel,
How did you about to do 26K with 990 profit?
Thanks
Hi Jackie, with lots of Amex offers / Ebay offers and most importantly with portal cash back on some of the merchants. This is like hunting, you have to be at better position to get the deal. It requires some good skills at maths so whenever you see deals, crunch your numbers and see if it makes profit or break even and then pull the trigger.
I don’t recommend buying from 1 Vendor and selling to another. It is very risky and very recently I had a loss $312 as those cards were used by original seller and my 100 day guarantee was over from the place I bought, the reseller I sold to ask for 12 months guarantee. So I am restricting only to my original buys.
How does this not result in a huge loss? I tried the math on this and unless there is a card at cash star that retails for more than I’m aware of you’re going to take a big reselling hit that wipes out your cash back and then some. What am I missing?
You’re not missing anything. It’s not scaleable and it’s an extreme YMMV technique with meaningful risk of taking a loss with an uncertain recycle time. I doubt many with access to traditional MS methods would bother. I won’t.
@Grebel, like Paul mentioned it’s extreme YMMV and if you have traditional methods it’s better. If you’re in a tough environment like NYC gift card churning is the way to go.
I’m still working out the math for Cashstar/Gyft route. There’s a lot of things that need to fall into place, and goes back to the YMMV piece.
What credit card gives you a $20,000 credit line?
It all varies on the credit card issuer and your income for a 20k CL
HTH
Have a 29k credit limit on my Arrival card. Closed out Lufthansa card and merged the two limits into Arrival.
If you could let me in on the secret for this $10,000 spend for $25 I would be most appreciative.
Would appreciate if you can let me know whats the secret sauce. Thanks
I can’t keep up with the emails that are coming in, so if anyone wants to know, you’ll need to email me or message me on the Saverocity Forum
Well I’m a Jewish guy from Brooklyn. So figuring out how to spend 10K is harder than making it. (:
Was trying to email you but then relized I don’t have your email address. I even subscribed to your newsetter only to find out those are sent from a WordPress no reply address.