M$ speed bumps

[Konrad2012]

Last night I posted in another thread about how M$ can be dynamic, as in always changing. To build on this:

 

Many months ago originally went to 7 different places to liquidate VGC's to MO's. I found 2 places that would actually do it.

 

Last month I wanted to step things up, so I went to about 20 new places to get a more expansive route. I found 5 more to add to that route.

 

But, in the last week, things have already changed.

 

One grocery store (chain S) told me it has to be a bank issued debit card...gift cards are not allowed. I've ran gift cards in this spot before with employees, this time it was the manager. So their system will run it, just their policy will not. Now I am not sure if that is an individual store policy, or throughout Chain S. So I might have actually lost 2 liquidation locations. (Of course I will try to figure out that manager's schedule to use the opportunity, but that is not as good obviously)

 

Two days ago a store from Chain A told me their location doesn't accept debit cards period...only cash.

 

Today another store from Chain A told me their location doesn't accept debit cards. The guy was like "screw it, try it anyways." No dice, computer won't take it. Went to another location from Chain A, and their MoneyGram system was broken.

 

So I've potentially lost 4 of my 7 liquidation locations. Meaning I went from $28K / day liquidation between me and my wife to $12K / day...and if a machine is broken or system down, that number drops further. Picking up $25K+ in cards turns into a multi-day affair instead of a quick afternoon loop.

 

To top it off, one of the Chain A locations that still works has a butthead manager who is always pissy when I come in to get MO's if I am running multiple cards, even more pissy when I bring my wife and make him do it twice. I could see this location being killed for VGC's as well in the near future.

 

Things to be aware of before you tie up a bunch of cash (credit).

[CreditNewb15]

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

[VintageWillow]

Have you tried a RB with a VGC with a PIN?

[Konrad2012]

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

 

Yes. Those people (the ones I've seen) are running even numbers of $1000 or $500 loads, and pulling all the money out immediately via ACH.

 

I try to load odd amounts, use the cards to shop at Target (not a lot obviously but some) and pull money out through bill pay to various accounts and some ACH. I have the bill pay send checks to me via my middle name, since the Redcard only asks for first and last.

 

Are my ways to trip up their system fool proof? Not at all. But its REALLY easy for them to do a search of everyone running $1000 even loads and using that as a starting point for AA. Or to run a search of everyone who's loads 100% match their ACH withdrawls.

[Konrad2012]

Have you tried a RB with a VGC with a PIN?

 

Yes I've tried RB with VGC's with pin and AGC's. No problems. Just wastes capacity.

[VintageWillow]

Cool, thanks

[Konrad2012]

No problem.

 

Again, not discouraging M$ in any way...that would be hypocritical of me.

 

At the same time, I hate to see everyone jump on the bandwagon without doing their homework (think everyone who applied for Diners and now it doesn't report and they are all butt hurt).

 

I figured if I am going to post about buying $25K in VGC's at a time, I might as well post about the hassles I come across as well. Balanced reporting

[Wross]

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

The consensus seems to be that the shutdown emails were a hoax. I don't know, but it looked a little fishy. Why would amex/target be suspicious of even number loads? Presumably, the intended user would be loading with 20s/100s from their scummy under the table boss.

[trinity911]

No problem.

 

Again, not discouraging M$ in any way...that would be hypocritical of me.

 

At the same time, I hate to see everyone jump on the bandwagon without doing their homework (think everyone who applied for Diners and now it doesn't report and they are all butt hurt).

 

I figured if I am going to post about buying $25K in VGC's at a time, I might as well post about the hassles I come across as well. Balanced reporting

Though I am not even close to doing anything of this nature, I always enjoy your posts on M$.

 

 

[mrjuggalo9er]

Upromise going strong up to 7k back

[Cactus Flower]

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

It seems like this whole game of M$ is very risky.

 

I want to thank the people that post the risks, as well as the ones who posts the rewards. Its nothing I am brave enough to try on any level, but it's been fun to watch

[Konrad2012]

 

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

The consensus seems to be that the shutdown emails were a hoax. I don't know, but it looked a little fishy. Why would amex/target be suspicious of even number loads? Presumably, the intended user would be loading with 20s/100s from their scummy under the table boss.

 

My exact words:

 

But its REALLY easy for them to do a search of everyone running $1000 even loads and using that as a starting point for AA

 

I just suggested that as a starting point. Then they cross reference those people with people just pulling money out to ACH only. Doesn't pay to make their job too easy.

[Redfoot]

No problem.

 

Again, not discouraging M$ in any way...that would be hypocritical of me.

 

At the same time, I hate to see everyone jump on the bandwagon without doing their homework (think everyone who applied for Diners and now it doesn't report and they are all butt hurt).

 

I figured if I am going to post about buying $25K in VGC's at a time, I might as well post about the hassles I come across as well. Balanced reporting

Thanks for sharing.

 

I know you are thoughtful in your strategy and execution so I view it as extra valuable.

 

My personal comfort zone for M$ is lower than yours but it's interesting to see it scaled up a good bit.

[blqbutterfly]

Thanks Konrad for this valuable information....my needs are much less than yours, but to see if all come together helps a great deal.

[Wross]

 

 

 

I read on several (3) other boards about how Target/AMEX are killing their redbirds for suspicious activity.

The consensus seems to be that the shutdown emails were a hoax. I don't know, but it looked a little fishy. Why would amex/target be suspicious of even number loads? Presumably, the intended user would be loading with 20s/100s from their scummy under the table boss.

My exact words:

 

But its REALLY easy for them to do a search of everyone running $1000 even loads and using that as a starting point for AA

 

I just suggested that as a starting point. Then they cross reference those people with people just pulling money out to ACH only. Doesn't pay to make their job too easy.

Don't get me wrong. I play it safe. Random loads are mostly to avoid FAs, but leave a little money on there, spend a little at target, different kinds of transactions.

[JeffeVerde]

<snip>

So I've potentially lost 4 of my 7 liquidation locations. Meaning I went from $28K / day liquidation between me and my wife to $12K / day...and if a machine is broken or system down, that number drops further. Picking up $25K+ in cards turns into a multi-day affair instead of a quick afternoon loop.

<snip>

 

Schnikeys! $28k in increments of $500 ? ! ? ! No wonder the store managers love you (not!)

[Phantik]

That is a lot of MO Konrad. That is some serious M$

 

I for one am glad that my Diners does not report. Its only 10K and i'm M$ about 5k a month on it, mixed in with some everyday spending.

 

I have been carrying a balance last couple of months of under 1k.

 

No big deal since I hadn't paid interest until last month and well, it wasn't much. The rewards and benefits to me from this card are way more valuable.

[casemodgod]

If you're MS'ing that much, I feel for you when the AA hits.

 

Because it will. You're gonna get flagged eventually. Most people

say to stay below 5k /mo to be reasonable. If you're running through

30k a month, I think its only a matter of time.

 

Tread lightly man

[mrjuggalo9er]

If you're MS'ing that much, I feel for you when the AA hits.

 

Because it will. You're gonna get flagged eventually. Most people

say to stay below 5k /mo to be reasonable. If you're running through

30k a month, I think its only a matter of time.

 

Tread lightly man

.....Barclay is going to kill me when they read through their last 2 years of records if this is true

[Konrad2012]

That is a lot of MO Konrad. That is some serious M$

 

I for one am glad that my Diners does not report. Its only 10K and i'm M$ about 5k a month on it, mixed in with some everyday spending.

 

 

Had I known DC wasn't going to report, I would have applied in a heartbeat.

[Konrad2012]

If you're MS'ing that much, I feel for you when the AA hits.

 

Because it will. You're gonna get flagged eventually. Most people

say to stay below 5k /mo to be reasonable. If you're running through

30k a month, I think its only a matter of time.

 

Tread lightly man

A lot went on business cards that I told them I put $20K+ a month on CC's when I applied.

 

I've ramped up the US Air with biz spend since I got it.

 

I already put $10K-$20K / mo in legitimate spend on CC's. My Amex cards are linked to a biz Pt that I've run $100K / mo on at times.

 

Getting stuck with $25K in VGC's is my biggest worry.

 

But, yes I am aware anything is possible. One reason I've left BofA out of the mix as insurance. And will leave Navy, DCU and PenFed out. I'll still have a bunch in reserve if a bomb hits. (Well that, and all their rewards suck )

[mendelssohn]

 

If you're MS'ing that much, I feel for you when the AA hits.

 

Because it will. You're gonna get flagged eventually. Most people

say to stay below 5k /mo to be reasonable. If you're running through

30k a month, I think its only a matter of time.

 

Tread lightly man

A lot went on business cards that I told them I put $20K+ a month on CC's when I applied.

 

I've ramped up the US Air with biz spend since I got it.

 

I already put $10K-$20K / mo in legitimate spend on CC's. My Amex cards are linked to a biz Pt that I've run $100K / mo on at times.

 

Getting stuck with $25K in VGC's is my biggest worry.

 

But, yes I am aware anything is possible. One reason I've left BofA out of the mix as insurance. And will leave Navy, DCU and PenFed out. I'll still have a bunch in reserve if a bomb hits. (Well that, and all their rewards suck )

+1 on the business cards.

 

The biggest risk is probably if you have a low income and put an extremely large amount of spending on personal cards, especially if your only transactions on those cards are M$.

[nateinva]

Happy to see more and more topics pop up on this subject. Thanks for sharing Konrad!

 

I'm a total wuss....I do a couple $500 VGCs at one time and load at family dollar over a couple days. I seriously need to step it up. For what its worth I'm fully comfortable with the products and processes now....its been a good training ground.

 

As soon as I finish sign ons I need to get a real plan together.....I guess tar-jay should be a part of that.

[puzo]

With regard to the stores that will accept debit cards but not "gift" debit cards. Back before I knew about M$, I had a $100 gift card that I wanted to purchase a money order with at a grocery store. I was told by the associate and then the manager that it was against their policy. After being accused of various things by the associates I called their corporate office to complain about the way I was treated. I quoted the Visa Merchant Card Acceptance Guidelines to one of their VP's:

 

 

Card Acceptance: "Accept all types of valid Visa cards. To offer the broadest possible range of payment options to cardholder customers, merchants must accept all categories of Visa debit, credit, and prepaid cards."

 

After my complaint they changed their corporate policy and they now accept VGC's among other types for MO's. It has been very helpful now, a couple years later, because they are a very large grocery chain in the northeast and its easy for me to unload my VGC's no questions asked. It goes without saying I wouldn't call the corporate office or make a fuss of any place I was trying to unload GC's these days.

Edited March 24, 2015 by puzo

[nateinva]

Thanks for fighting the good fight