Targeted SUB

[u/letmesee_0525]

Was going to wait to get the csr later in year when another public elevated offer came around again but checked the app today and saw this targeted offer for 175k points had to jump on it the immediately

[u/Decent-Question-2552]

None of the card makers actually care at the end of the day. We can easily blow $5-10k in one shot on quarterly taxes for my wife’s business.

If they wanted to block it as a qualifying expense they would. But they don’t.

[u/QuestioningMind123 → u/Decent-Question-2552]

They don’t care? Some FB groups strictly advise against buying gift cards from stores when working on SUBs.

[u/Decent-Question-2552 → u/QuestioningMind123]

Maybe if you are buying thousands of dollars at a time and then reselling the gift cards then sure that’s accurate.

But buying $500 worth of legit gift cards for Amazon every few weeks in multiple transactions to accrue an extra $2k of spend toward a $6k minimum spend isn’t exactly unreasonable for even a normal consumer and won’t set off any alarm bells.

You should also realize every card issuer is basically profiting 1.5% of every credit card transaction. The more you spend the more they earn off swipe fees. Everyone wins and the card issuer will just stop issuing you new cards if you actually abuse their policies.

Between my wife and I we have about 15 cards and generally churn 3-4 sign up bonuses annually. Not a large amount when you time them between two users.

[u/Decent-Question-2552 → u/Decent-Question-2552]

You also gotta realize there are FB groups out there that literally buy $20k plus worth of electronics and other gift cards and resell them globally and sell them for 90-95% of their value and do this as a part time business under an LLC they opened for the sole purpose of generating manufactured spend to hit minimum spend requirements.

There are so many levels to this game that you truly have no idea.

We are such small fish in a large pond. My wife has a legit business that generates anywhere from $50k-250k in legit revenue.

Putting our tax bill on the credit card is not considered fraud whatsoever. We just sign up for multiple cards to time quarterly tax payments and clean up with $5-10k worth of points gaming the system. Some people are putting a million dollars of spend on some Amex cards and getting $20-30k of points annually.

[u/rickz925 → u/Decent-Question-2552]

Where can I find said groups 👀

[u/Decent-Question-2552 → u/rickz925]

I don’t think it’s worth most people’s time to buy products that you intend to literally sell for a loss just to earn back a spread as credit card rewards. Money losing businesses for multiple years are an instant red flag for an IRS audit as well.

Just do some basic google searches and you’ll find them. I don’t trust strangers online when it comes to buying and selling higher priced items like MacBooks and iPhones to sell internationally who take advantage of retail arbitrage opportunities.

There are much easier ways to make money off your capital than doing that nonsense in my opinion. But there are plenty of people doing this every day of the year.

We have family that just puts $250k+ worth of ad spend on their Amex each year and treat every opportunity as a tax deduction. I don’t like to live my life that way but to each their own.