Lend Academy Network Forum

General Category => General P2P Lending Discussion => Topic started by: hayeskt6 on September 02, 2016, 02:32:50 PM

Title: Manufactured Spending
Post by: hayeskt6 on September 02, 2016, 02:32:50 PM
Hey everyone so yesterday I responded to a thread on here about p2p crowdfunding. I discussed a concept of manufactured spending that I have found to be great for me. I was wondering what everyone here uses for manufactured spending. Like I said, I know a bit about it and would like to either help inform people or learn more myself here.
Title: Re: Manufactured Spending
Post by: Fred93 on September 02, 2016, 02:43:02 PM
What is "manufactured spending" ?
Title: Re: Manufactured Spending
Post by: yojoakak on September 02, 2016, 03:46:18 PM
What is "manufactured spending" ?

Buying Gift Cards using credit cards and then figuring out a way to pay off the credit cards with the gift cards? To get travel points? Or something?

https://www.travelhackguy.com/beginners-guide/

http://www.flyertalk.com/forum/manufactured-spending/1642283-new-manufactured-spending-start-here-2015-a.html
Title: Re: Manufactured Spending
Post by: AnilG on September 02, 2016, 06:31:04 PM
Collect rewards from multiple sources with only one spending.

Hypothetical example: Buy a gift card of certain amount, get 5% more amount on the gift card. Use credit card to buy that gift card, get 5% as cash back on credit card. Use a credit card that was offering 5% cash back if you spend certain amount in a certain period, so on and on ...

Few years ago, Lending Club used to allow transfer of funds in to new account using credit card and offered incentives for funding account. People were able to create a reward chain with that. OP might be hinting on manufacturing spending with his platform.

What is "manufactured spending" ?
Title: Re: Manufactured Spending
Post by: hayeskt6 on September 05, 2016, 04:07:03 PM
AnilG was spot on with his example. There are few other crowdfunding platforms that allow you to practice different forms. An example of one could be using your credit card to purchase inventory on consignment for a brand. Obviously you would want to choose the card with the best rewards for what you want. Back to the example though, with this inventory your purchased, you would have a payback schedule so you could determine you payments prior to maximize your rewards.

Now the way this falls into MS is say you used a card that offers 5% cashback to purchase inventory with an earned profit of 10% over 1 month (completely unrealistic) and purchased $10,000 worth of inventory. With this example an time frame you're expecting to have $11,000 earned profit. That would allow you to pay off $10,000 worth of credit, get $500 from the cashback and still make $1,000 from the earned profit. Disclaimer: This is just an example, I know that there is no way a platform could offer this, which would also be like 120% annualized. 

Now that's the basis for the platform I use. I was hoping with this thread to find other ways or maybe even some other cards that people use.
Title: Re: Manufactured Spending
Post by: rawraw on September 08, 2016, 04:41:07 AM
What is "manufactured spending" ?
The classic example is when the Treasury used to allow people to buy dollar coins with credit card.  The basic premise is you want to spend money without actually spending money to achieve credit card rewards.  So when you could buy $1 in cash for $1 in credit card charges, people would buy thousands of dollars and then use what they bought to pay off the card.  No actual expense, but lots of points get built up.  There are other ways to do it, but not as clean as this old way.  But it should give you a good idea

http://www.creditcards.com/credit-card-news/mint-closes-loophole-ends-credit-card-coin-sales-frequent-flyer-flier-miles-1263.php
Title: Re: Manufactured Spending
Post by: jheizer on September 12, 2016, 05:41:39 PM
How did this turn into an affiliate link thread to kickfurther?
Title: Re: Manufactured Spending
Post by: hayeskt6 on September 13, 2016, 04:02:14 PM
That was done by me, i actually deleted the link so that its true to topic. As i did state in my last message though, everyone has provided pretty good information. I can post referral links to multiple sites if anyone is wanting to practice MS like i've done. If not  let still carry on this conversation! Everyone posted some good resources so far!
Title: Re: Manufactured Spending
Post by: jheizer on September 13, 2016, 04:05:32 PM
Yeah but it was clickbaited.  Your sentence and the link were completely unrelated.
Title: Re: Manufactured Spending
Post by: ryancar6 on September 15, 2016, 01:30:22 PM
You're nitpicking. I clicked the link and found it to be information that I could use. I don't remember the exact language the OP used but it was enough to get my attention. Also besides the OP who was talking about Ms as a whole an his experience with his companies MS, it wasn't focused on Kickfurther. It wasn't until you asked why it was focused on Kickfurther that I thought it was! 
Title: Re: Manufactured Spending
Post by: jheizer on September 15, 2016, 01:34:00 PM
Maybe what we saw was different.  I was at a sign up page to give us each $5.  It was laid out like hey go read this article.  Or at least I read it as such.
Title: Re: Manufactured Spending
Post by: hayeskt6 on September 16, 2016, 03:54:43 PM
No you're right, I posted a referral link. The link contained learning information underneath because I realized people may want to see information. I wanted to provide the info that was available when your scrolled. Once again my apologies.
Title: Re: Manufactured Spending
Post by: yojoakak on September 16, 2016, 04:24:24 PM
This all sounds a little scammy. Maybe you should take it to another website.
Title: Re: Manufactured Spending
Post by: ryancar6 on September 20, 2016, 01:09:44 PM
yeah about moving it... no.  I liked this conversation here. You shared links, the others shared links,Op shared links,  it all worked well till someone complained.
Title: Re: Manufactured Spending
Post by: fliphusker on September 20, 2016, 04:55:35 PM
This all sounds a little scammy. Maybe you should take it to another website.
It is not really scammy it is just jumping through loopholes.  Not all that long ago the same people were buying $1 coins from the mint and got free shipping.  They put them on their credit cards.  They would then go to the bank and turn the $1 coins in for cash and collect the rewards from their CC. 
I have a number of CC that I use for different things and never run a balance to collect the rewards.  Personally I would not do some of the things that people use them for. 
Title: Re: Manufactured Spending
Post by: hayeskt6 on September 20, 2016, 06:17:55 PM
Yeah it's not a scam, it's been helping me and other for awhile now. I still was hoping to learn more about other forms besides Kickfurther. As I said in the beginning I know a bit more about Kickfurther than the other forms of MS so I made sure to include a link like the others did. I still don't know which form of MS is the best but I wasn't asking that, just was hoping to put two an two together to find the best for me. It may be Kickfurther, it may not be. I need to explore more of my options.
Title: Re: Manufactured Spending
Post by: yojoakak on September 20, 2016, 11:27:54 PM
It is not really scammy it is just jumping through loopholes...

Ultimately, what's any of this got to do with Peer to Peer Lending?
Title: Re: Manufactured Spending
Post by: ryancar6 on September 21, 2016, 11:45:34 PM
It's all accomplished by a community. It's small business owners looking outwards to peers instead of banks or financing through other ways.
Title: Re: Manufactured Spending
Post by: ryancar6 on September 26, 2016, 08:07:39 PM
Here's a Link I found that helped me, and since the first link in here was removed. https://www.kickfurther.com/learn-buyers?utm_medium=forum&utm_source=finance_forum&utm_campaign=forum_user_channel&utm_content=inline_text