I raised this question in the forum recently when a deal came across my table from a very nice member of the MS community. He had just found something that was somewhat new, and pushed through his first trial payment. I decided to try this myself too, as it was a simple $18K transaction (random amount I select based on credit line) at 2x which means $360 in a click or three. It’s a $25K deal per transaction, and as with all bank deals has a daisy chain potential.
Long story short, it is a bank account. I outline bank account gigs in Bootcamp. They are really good because of their PJ factor ( you can sit around in your PJs and make money, very handy for stay at home types) and because of their lack of fees. Bank account gigs really leverage 2% cards, as fees from gift cards/money orders etc often make using these channels less attractive.
The quandry
We had discussed testing it out ourselves and once it ‘works’ sharing it further. However this is a deal that I know will die. We both received calls from the Bank asking us for more information (DL scans etc) my call asked for things like employer information. The account is pending now but should fund at some point. Note there is a risk here that the process will take longer than a cycle to complete, so the amount of funding must be floatable.
Because of the high touch response from the bank it is clear they are manually approving. That means if they get 50 billion applications (my daily pageviews when I release a deal), sooner or later (sooner) they will get savvy and shut it down. It is only my opinion, but I think that its very likely that sharing it will kill it.
Therefore, what does one do? If we do not share it then it doesn’t die. But there is no point in it living if nobody is leveraging it. Somewhat like the tree falling in the forest concept. If one shares it, it dies. One solution is to ‘share it with those you trust’. But the funny thing is that an alarming number of people start reminding you how trustworthy they are when this happens..
Bigger picture, it leads me to thoughts of people who out deals for pageviews. If the deal will die regardless does it really matter? I hear a lot of ‘community’ and ‘steward’ talk around these topics, but I also wonder if that is just a line used by people who don’t want to share, such as those who intentionally bury good information on Flyertalk, or lie about things to ‘scare away’ other people.
What would you do?
Please no emails or PMs about the name of the bank. It is not my gig to share. I work on an honor system, and if someone shares something with me I don’t post it. I’m just working through some thoughts on the topic in this post.
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