Manufactured Spending with Square Processing

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Square is a company that offers card processing services targeted at small business owners. They currently provide a free magnetic strip reader that you can connect to your smartphone's audio jack which allows payment processing (2.75% fee applies). You can also key in the payments manually via the virtual terminal on a web browser by logging into your account (3.5% + $0.15 fee applies).

The MS opportunity arises for each account when you sign-up (one per SSN), in which you earn $1,000 in fee-free processing. You can refer additional individuals for an extra $1,000 to both you and your referee's account for a total of $2,000 extra processing.

With the recent death of Venmo as a means to liquidate American Express gift cards, I was forced to use Square to liquidate my AGC. I had to expend both mine and another person's SSN to liquidate my $3,000 AGC.

I would advise anyone who needs to satisfy minimum spending requirements to save this MSing route for American Express cards because it is difficult to find pure online-only methods of MSing AMEX cards, especially with the $5,000 requirement for their best cards.

If you have found this information useful and would like to sign-up with my referral link, please leave a comment with your email and I'll send you the link. Both of us will get the $1,000 in fee-free processing.

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