Manufactured Spending

 

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14 comments

  1. Rene – I recently asked you about options for unloading GCs and you replied MOs at WM or Grocers are a good option. I had a specific question related to this and didn’t want to post it on the credit card page. When you do a MO, is it suitable to do say $3K MO and use 6 $500 VGCs or only possible to do MOs $500/time.

  2. @Steve – Sure, you just have a tiny bit higher MO cost. I do this all the time via CVS Vanilla One cards as my local growcery store. Yeah it cost me 90 cents more per $1000 but who cares at these levels.

  3. Hello! I’m almost certain that I have hit the $60k Reserve spend threshold to earn the 15,000 bonus MQMs and I trust they will be deposited to my SkyMiles account once my statement closes on 9JAN2017. However, I want to be absolutely sure I’m above the $60k, so I logged into Amex and went to Statements&Activity, filtered by year-to-date, and then I subtracted Fees & Adjustments. Is there any more reliable way to check my annual spending? Thanks very much!

  4. @Jon – Just check last statement, subtract fee’s and there you are. BTW I always overspend by 1k to be sure each year. Not worth missing it for 1k 🙂

  5. Hi Rene – What’ the best way to confirm you’ve hit your spending target with Amex before your statement closes? I keep my own spreadsheet and I have confirmed with the Amex Statements & Activity tab (less fees and adjustments), but is there any better way to be absolutely sure I have spent $60k on my Delta Reserve before year-end? Thanks very much!

  6. @Jon – Start with last month total (minus fees and such) and then just add up your spend that has POSTED to your account online. Oh and I always go over by 1k to be sure.

  7. @rene, thanks very much for the reply! Sorry I made my post twice, thought it didn’t go through yesterday. I’m about $1,100 over the threshold, so now I will sit and wait for the statement to close. Thanks again!

  8. Rene: Following your advice in a previous article, I just used my AmEx card to pay my 4th Quarter estimated federal taxes for a 1.98% fee. While doing that, I noticed that the site also takes debit cards and caps the fee for using those at $2.69. That made me wonder if I could save about 1/2 percent by buying $500 Simon Mall Visa gift/debit cards and using them to pay taxes. That also would save the hassle of using the cards to buy money orders and then depositing the MOs. Your thoughts? Thanks.

  9. Hi Rene: say your FT post ok staples.com gcs earning the Simone 5% back. Question: how do you use multiple simon cards+ a cc to pay the fees at checkout. Was going to buy 5×300 visa GCs on staples using 3×500 Simon five backs and a CC to pay fees but can’t add more than one form of payment…. am I missing something?

  10. What are the benefits of a buying and using a Simon card. Is it the same as a CVS vanilla one card? Would you be able to purchase a Simon mall GC for more than $500 or is there another added benefit that I am missing?

  11. @Anthony – Cheaper fee and you can liquidate at WM unlike the VO that you can not (well for $49.99 at a time).

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