Manufactured spending is a way to earn extra points while using credit cards. It involves exploiting opportunities to often make thousands of points per day without incurring any expenses, using a credit card to pay for something that can be converted back to cash to pay the original bill. There are, however, risks that are associated with it if you ignore some things.
Brandon Elliott is one elite real estate investor who uses Manufactured spending on credit cards, especially on Automated Walmart stores. He offers training on real estate and the use of credits which also involves how to manufactured spend. He teaches people the credit hacks he has been applying for years, such as building substantial credit lines for business up to 7 figures and manufactured spending techniques- showing ways to create millions of points equivalent to cash, free travels, and even buying properties.
Here are what you could avoid when using manufactured spending.
- Being Transparent
It would be best if you did not talk about your manufactured spending, be it to store employees, your friends, or anyone else you are dealing with. Avoid speaking about someone’s manufactured spending activities or tell a cashier in detail what you are doing. It would be best if you also avoided attention when purchasing or liquidating many gift cards at once. The alert could cause limitation of the gift cards you could buy by a store or completely ban its usage.
- Buying more gift cards than you can reasonably unload
If you order about $10,000 of gift cards and probably bank $200 cashback of 15,000 arrival miles is exciting. However, do not let that cloud your judgment. Your credit card will soon be over, and if you do not unload these cards on time, you will undergo a considerable loss. It is essential to be honest with yourself on proper timing that you could commit to manufactured spending. It would be best to start small and work your way up. A schedule would also help plan to unload a specific amount, maybe weekly, and a timeline to get it done.
- Losing Gift Cards
Losing gift cards is one great mistake you can make with manufactured spending. Losing a gift card increases your manufactured spending expenses significantly. The best way to avoid loss is to be keen on your bookkeeping. Keep track of your gift card emails, receipts, and packages until every card has been liquidated and money order placed. Losing gift cards is more expensive than paying credit card interest fees. It would be best to purchase what you can closely monitor. Again, it would be best if you put in mind your card number by jotting it down so you can track it until it has been unloaded fully. This tactic will help you know which gift cards have balances that need to be liquidated, and you will have the required information to request a substitute if you lost one.
Conclusion
Manufactured spending needs a lot of discipline, focus, and organization. Be keen when using gift cards as theft, loss, or sharing of information could put you at high risks, such as personal finance damage, loss of lump-sum amounts. You might also consider purchasing store-specific gift cards and converting them to cash by selling them to someone. You could use platforms like Walmart, Best Buy, Amazon, among others.
For more insights, you can reach out to Brandon Elliott by:
Email: brandonelliottinvestments@gmail.com
LinkedIn: https://www.linkedin.com/in/brandon-elliott-6b1643148
Website: www.CreditCounselElite.com
