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  1. #1
    Registered User Enthusiast

    How to get bonus rewards

    I promised to test out and report back on my favorite ways to "manufacture" spending to easily achieve spending hurdles offered on credit card sign up bonus offers.

    Well, I've been testing out and am totally confident in just one method.

    First, buy gift cards that you can use as debit card.

    Second, use the gift card/debit card to buy a money order.

    Third, deposit the money order into your bank account.

    Fourth, pay off your credit card with the transformed gift card purchase!

    Obviously there are some transactional costs involved. I can get those down pretty close to zero by using this method to buy the gift cards.

    • Start at TopCashBack(dot)com
    • Redirect from there to giftcards(dot)com
    • Have gift cards mailed to your house

    Yes - you will need to join TopCashBack. But you will earn back a portion of the price of your gift card, and drive down the transaction cost. And you might find out that Top Cash Back's portal saves you money elsewhere as well.

    At the end of the day, you are only out of pocket your minimal transactional costs. So even if you don't use any cost saving techniques, you only need to come out of pocket about $10 to generate $500 or $1,000 of spending on our new credit card.

    (Sorry I cannot post links to these sites - I have not met the minimum required for links by the forum. But you should have enough to go on.)

  2. How to get bonus rewards
  3. #2
    Registered User Semi Pro Member
    Thanks for posting this. Definitely seems worth looking into.

    FWIW, I'm pretty sure I can pick up Visa gift cards/debit cards at Kroger for no fee. But I need to follow up on that.

  4. #3
    Registered User Senior Member
    That actually sounds like it would work. Pretty clever of whoever came up with this process.

    And I can attest to - we use them to save money on actual purchases.

  5. #4
    I remember that years ago you could buy discounted gift cards that worked as debit cards directly through card issuer portals. They closed that loophole for the most part.

    Well, use it while it lasts. But be advised that many card issuers are imposing limitations on card churners.

    Some will only let you collect a signup bonus offers once per year. Some will only allow you to collect it once in your lifetime. Chase will not approve you for a new card if you have taken out 5 new cards in the last 24 months.

    IMHO, more restrictions are probably coming soon.
    Need a Card to Build/Rebuild Your Credit With? Read This >> Best Credit Cards For Building Your Credit

  6. #5
    Registered User Junior Member
    Wow! Thanks for sharing this!

  7. #6
    Registered User Semi Pro Member
    Thanks for the tips. I'm definitely trying this out.

  8. #7
    Registered User Junior Member
    Just got back from the Kroger and about to put this strategy to work.

    Next phase will be to use this strategy to buy my way into elite airline status.

  9. #8
    Registered User Junior Member
    Keep us posted, Johnny. I'd love to know if this works on a large scale.

  10. #9
    Registered User Semi Pro Member
    I am not sure I am comfortable with the idea of manufactured spending. I would not feel good about myself.

    I know credit card companies charge lots of hidden fees and all that. They are not exactly good guys. Still, I could choose not to use their services. I would not feel right to abuse their service.

  11. #10
    Registered User Enthusiast
    I get where you are coming from. It is not illegal. And not the most immoral thing out there. But it is not exactly how the credit card companies want you to spend to earn rewards.

    Still, I think it is a useful tool to be able to help you save money, accumulate rewards and see the most from how you spend. And you don't overspend or go into debt to do it.

    Even if you do not want to play the game of manufactured spending, you should be willing to look at how the bonus rewards offered by some cards are superior to others. And are superior to just regular 1% or 2% rewards. And that is a game the card companies encourage.

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