When you join buyers groups (or buying groups), you can earn a huge amount of extra award points for travel by making purchases online and then shipping them to other people!
Many people are unfamiliar with buyers groups and feel slightly uncertain about how they work if they are. But this can be a terrific way to start saving money on your flight and hotel purchases and is something for you to consider when it comes to effective travel hacks.
Below we will look at everything you need to know about buying groups to decide whether this way of racking up credit card rewards points is a good fit for you. Below you will find the answers to:
- What is a Buying Group?
- How do Buyers Groups Work?
- What are the Benefits of Buying Groups?
- Tips When Using Buyers Groups
- Which Buying Groups Should You Consider Joining?
Best for Experienced Users
What is a Buying Group?
A Buying Group (or Buyers Group) describes an organization of small independent businesses that band together when purchasing products or services. Buyer groups are usually formed according to industry and will allow members to source beneficial discounts on items (due to their combined purchasing power) that they resell.
Members of Buyers Groups can benefit from cash-back, commissions, and points for air miles and travel purchases.
How Do Buyers Groups Work and How You Can Earn Credit Card Points
- Some buying groups allow public members to join easily, while some are invite-only. You will find that there are a lot of different collectives that have come together to take advantage of their collective buying power. Once you have applied and they accept you, it will clue you in on potential opportunities. Buyers Group will notify their members about purchasing products by email, websites, or social media groups
- You can purchase the selected product in the agreed amount with a credit card (you will need to use certain cards to profit or break even on some of your purchasing)
- You will need to arrange for the products to be sent directly to the buyers group. Some groups will allow you to have it shipped to your home and then reshipped using pre-paid labels. (Although obviously, shipping directly will save you time and effort)
- Once the group members receive their items, your account will receive credit, and you can arrange for a payment back into your account
What are the Benefits of Buying Groups?
- You can earn credit card points quicker by making purchases for which you will be reimbursed
- Making the purchase should not take too long, and you can do so from the comfort of your own home
- A way to easily earn credit card points with little effort
What are the Disadvantages of Buying Groups?
- You must be careful when using your cards to make purchases to ensure that you at least break even
- With certain groups, you may need to deal with extra work, such as arranging shipping to a large number of different members
Tips When Using Buyers Groups
Create Several Store Accounts
Some stores will try to limit how much each product you can buy. However, you can circumvent this roadblock by opening several accounts with different emails and using other credit cards for payments.
You Will Need Different Modified Shipping Addresses
If buying from different accounts, you will need to adapt your address a little, so the products will still get to you without the retailer flagging your orders. So, for example, on one address, you could be Unit 67, or on the next, Apartment 67.
Earn More By Buying and Using Gift Cards
You can use a gift or credit cards that offer extra points rewards to maximize the number of points you can get from a transaction.
Use Cash Back Portals When Making Your Purchases
Make sure you receive the highest amount of cash back on your purchases by checking and using Cash Back Portals.
Which Buying Groups Should You Consider Joining?
Here are some of the Buyers Groups you can consider joining to get started collecting much more credit card points at an accelerated rate.
A buying group that purchases consumer goods such as smartphones, laptops, games consoles, and other items.
A New Jersey-based buyers group that purchases electronic goods and offers multiple deals weekly.
A consumer electronics goods buying group that offers commission on some deals and presents several buying deals monthly.
This buyers group normally focuses on smaller quantities of specialist items such as coins, tickets, and memorabilia.
Another electronics goods buying group that presents several deals weekly for their members.
Takeaway: What is a Buying Group? How Can You Earn Points By Joining?
If you are looking for a way to build up your credit card points for travel and airline purchases which does not involve a great deal of effort or time investment - then buying goods and services on behalf of a buyers group may be the way to do it!
Obviously, you will need a certain amount of available capital to cover the initial cost of buying in bulk for group purchasing organizations. But this increased spending which you will receive reimbursement, will allow you to rack up more reward points quicker.
Remember that you should always read the terms and conditions of the group before paying for bulk purchases. You need to be 100% confident that the transaction will not cost you money, and make sure you know how much time you will need to spend in sending out goods to other members of the buyers group.
But if you do your research, join a buying group that works for you, and be careful with your purchasing decisions - you can start to elevate your rewards points growth quickly!
Earn & Use Southwest Companion Pass
Earning a Southwest Companion Pass can be one of the most cost-effective travel hacks around if you usually travel as a couple and the points limit you need can be quite easy to achieve if you are smart about it.