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Starting Out with MS

Discussion in 'Bootcamp' started by Matt, Jan 4, 2015.

  1. Jslectronic

    Jslectronic Level 2 Member

    I believe the rumor was that CVS would stop allowing prepaid/gift cards from buying gift cards, apparently a memo is "being prepared" scheduled to come out in February

    Edit: see the second news story now, it was a fun run, now need to go cash out the $4k I have left today and tomorrow and hope it triggers :)
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  2. Sephy

    Sephy Level 2 Member

    Most of the CVS's will not allow you to buy a VGC with a GC, but the rumor is coming from the CS reps at the malll
  3. redrps13

    redrps13 New Member

    Heard the same rumors on FT, nothing concrete yet though.
  4. Sephy

    Sephy Level 2 Member

    Hopefully it ends in a rumor and will continue but how long will Simon's mall continue to give away 5%?
  5. redrps13

    redrps13 New Member

    5Back cards aren't going away. Its just that CVS is possibly dropping them, but as of now still showing CVS on Simon website as a participant.

  6. Sephy

    Sephy Level 2 Member

    Correct that is what I was trying to say thanks for clarifying
  7. volker

    volker Level 2 Member

    People MS'ed before with VGC's from Simons' before there where 5backs and will MS even -- if ever -- the 5backs will get discontinued. You only loose one money maker. But there is a reason why you should always have at least one backup liquidation method.

    There where actually two rumors today on FT. One where a CVS manager said that they will stop in February, in the other one a Simon's mall manager (not CVS!) said that CVS will stop a bit earlier in January.
  8. GettingReady

    GettingReady Level 2 Member

    Things constantly change. Have to be flexible and have back up plans.
  9. Sephy

    Sephy Level 2 Member

    I am flexible and have other plans I was just sharing some information that I received when I went to Simon's Mall to pick up those cards.
  10. mlick41954

    mlick41954 Level 2 Member

    Seems like the opportunities for MS are becoming very challenging. Should I be discouraged that I am just now learning and getting into this?
  11. Sephy

    Sephy Level 2 Member

    New opportunities always become available, you just need to keep an eye out when they do and take advantage when you can.
  12. mlick41954

    mlick41954 Level 2 Member

    I've struck out on my first 2 attempts loading VGCs at local gas stations. I obviously have a lot to learn, but this is so much fun.
  13. bifslipson

    bifslipson New Member

    I wouldn't be discouraged, be encouraged. there are plenty of opportunities out there, not all are profitable. some simply break even. But if you can churn lots of volume at break even and keep the points.....isn't that the point? keep hunting
  14. Sahara

    Sahara New Member

    I've been a very conservative MSer for about 4 years, with a few hiccups that taught me the necessity of not chewing off more than you can float. But since my BB got shut down in the last round, I'm hoping to move to L2 and learn more.
  15. Mancolt

    Mancolt Level 2 Member

    I'm new as well, but I've found some mildly profitable avenues, and that's just from what's widely available on the internet via Google searches. Right now, these options are only worth doing when trying to meet minimum spend, given the time commitments and driving distances for me. But now that I'm aware of the concept, I'm certainly keeping an eye out for other promising opportunities. One of my big goals is figuring out how to max out my rotating category cards, when the categories aren't easy places to buy VGCs.

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