There’s always risk when you’re clearly violating the terms. I’ve found the additional purchases to be unnecessary but my accounts are pretty well seasoned. What you want to avoid is a human reviewing your account if at all possible.
Yes, if that is possible.
[quote=“sinistler, post:183, topic:649”]
the terms for each card include the clause, “Pre-paid gift cards… do not earn cash rewards.”
[/quote]this is almost in all CCs I have so there is definitely a risk should they start enforcing their terms. It is up to us to decide to take the risks depending on the rewards we’re looking at.
Tried to order from them a few minutes ago with that discount via TCB for 2x cards and order was cancelled within the hour. This would have been my third order with a discount within the past 2 years.
how do you get the fee down to only $8.60? Do you have a special arrangement or is it as a bulk user? Im assuming were talking about the same processor.
tio.com - formerly chargesmart.
it’s 1.75%.
How are you getting Tio to work for 1.75%? I’ve never used it before but I went onto the site and it looks like you can use it to pay your credit cards. I tried both AMEX and Chase and it was charging a 2.6% or greater fee.
Same. I knew the site and knew others pay the lower fee, but what’s the catch to pay less?
As I stated upthread, just put in a SSN and upload your driver’s license. Then you get the loyalty rate. You used to have to push $10k through the service before this rate activated. As far as I know now, you only need to do SSN/DL upload and get it.
you’re not referring to WM moneygram bill payment are you?
I was only able to score one pair of Five Back cards from Office Depot deal this week before they were sold out.
I had an interesting experience where I went to use one of them for a purchase this morning (that otherwise I’d only have earned 2% on, which effectively makes the MS fees 2%). I used it as Debit, using the last 4 numbers on the card as the PIN (which the instructions mention).
It went through and asked if I wanted Cash Back - like a regular debit card where you can get $10, $20, $50 back from the cashier. I’ve never used this before on my actual debit cards so it slipped my mind that this was a “thing” that could happen. I pressed no, because I wasn’t thinking about science, but I wonder if it would have let me take $50 out? Then I’d have a nice way to get some money off these cards at zero cost. I’m sure there’s been discussion about this elsewhere - any MS experts know? I understand the risks of depositing cash, but personally I have a need for about $5k in cash per year for various expenses and use an ATM to take it out from my checking account.
If I can get take cash out of prepaid debit cards, that would be a nice MS method for me, up to $5k a year at least. And even if I got more cash than I needed, the banks won’t freak out if I deposit a little cash here and there. Obviously not super scalable but could be a bit of extra profits for me with minimal effort.
99% of the time, the card will be declined if you try to get cash back at the register. I’ve tried it nearly every GC/prepaid card I’ve had my hands on. The option is there because you selected Debit, not because it’s allowable by the card issuer.
NO, you can’t take cashback from ANY of the MB, Bancorp, Sunrise, USBank prepaid V/MC giftcards. IIRC, it states on terms of use in all prepaids that one can’t get cash via ATM or cashback at the register with those prepaids.
That doesn’t mean it wasn’t once possible. I remember a couple of cards years ago that stated these terms, but it was still possible at certain retail locations.
But who would want cash? I know I wouldn’t, I’d rather have a traceable MO.
I’d way prefer cash over MO. I take out about $5k in cash each year for various expenses that are cash only or heavily discounted by using cash. So if I was getting an MO, then I’d have an extra step involved and also higher risk of adverse action. If I could directly get cash from the Prepaid Gift Cards, then it would be crazy good for me!
I guess I could possibly buy a WalMart MO and immediately cash the Money Order at WalMart - or possibly wait until the next trip to cash so it doesn’t raise suspicions? The question is whether WalMart has cash to pay out the Money Order, and whether I have to submit to invasive biometrics to cash the MO there (fingerprint, DL scan, etc).
while you can cash out MoneyGram MO bought at WM at the same or different WM branch, there is a $3 fee. I don’t know if there are limits to how many MOs you can cash at one time.
as to whether the register has enough cash to pay you, considering the max amount of their MO is $1K, they may have that amount and if not, I’ve seen them get more cash from the cash department.
I Think if you have the receipt for the MO you can cash it out for free at WM. There’s no way they don’t have the cash for one or two MO, they’re cashing checks left and right all day.
I’ll ask the cashier about that for my weekly MS run tomorrow. Free cashing of MGMO with receipt is useful to me when I cash out profits when all bills have been paid.
Thanks everyone! I might use this for the $5k per year of cash needs I have. If I can get 3% return that’s $150 saved.
Just deposit the money orders in a B&M bank that isn’t your primary. As long as you keep it under $6k in deposits you shouldn’t have any major risk of structuring.