In a previous article on "Raising miles at Walmart" I had shown how you could you potentially reduce the fee portion of Visa/MasterCard to even less than "zero". In that article the focus was on "Raise" as that was one of the gift card site where you could easily find the Walmart gift card at 2 to 2.5 % discount. Since then I have seen similar discounts offered by Cardpool as well as Ebay although I prefer Cardpool because of ease of use. The important thing to note is if the "gift card resale" site you are about to use provides any cash-back rebates through any rebates portal. Cardpool is also one of the Gift Card Resale site which provides cash-back through bunch of portals, one of which is TopCashBack. You could also check out other rebate portals and a good place to start your search for best rebate portal would be to search for the merchant at "Cashbackholic". Make sure you read through the terms of the cash-back portal as each one of them operate differently and have some limits of minimum amount of rebate you need to accrue before it becomes payable.
Walmart gift card at Cardpool:
Cardpool consistently provides the Walmart gift card at 2.5% discount in addition to 2% cash-back rebate going through TopCashBack ( Note: The rebate is only available until you reach $1k in purchases so make sure you read the terms through). You can combine upto 4 walmart gift card to make a purchase of Visa/MasterCard. A purchase of $200 in Walmart gift card would cost $195 and provide a rebate of $3.9 (2% of $195). Thus you get a $200 Walmart gift card at a cost $191.1 out of pocket cost thus having a discount of $8.9. Considering that a $200 Visa/MasterCard gift card costs $6.88 in fees you would still be ahead by $2.02 on this one. So by going through this route you would have purchased 195 points/miles and made a small profit of $2.02 as well on your credit card spend.
Walmart gift card at Ebay:
Another approach is to purchase the Walmart gift card from Ebay. Generally you would be able to find "Buy it now" deals for 2.5% discount and on top of it you would get 2% back from Ebay bucks. As you can see that you would save almost similar amount of money as you do from Cardpool but there are few problems you should be award of as mentioned below:
So, go ahead and accumulate those miles without any fees and enjoy your award travel.
(Note: If you open your TopCashBack account using above mentioned links, I would get a small referral bonus. I do appreciate your support. Thanks.)
Most of you holding BlueBird Debit Card would be familiar with Walmart for loading it up. Since there is a cost associated with the purchase of Visa / MasterCard, which could range from ~$4 to $6 per card the ideal strategy is to purchase the gift cards with credit cards that earn 2x or more miles/points per $ spent. But assuming you want to accumulate miles/points on the card which only earns 1x miles/points spending $5 for a purchase of $500 gift card would entail the cost of buying miles at 1 cent/mile or point. If you are on a lookout on how to minimize this cost then there are quite a few strategies available. The most common with least hassle are using Chase Gift Cards or using Plink but they have their own limitation's. In this post I am describing yet another strategy on bringing down the cost to zero without too much of work involved.
Bring on Raise!
Raise is a website for gift card buy and sale. This site is interesting because they regularly have Walmart e-gift card for sale at 2% to 3% discount. On top of it they do provide $5 off first purchase of $125 for new customer as well as do have promotion's now and then for $5 off discounts on $75 or more. The best part is you could make a purchase through cash back site such as Topcashback which regularly offers 2% to 3% of the card value as cash back.
Let's assume the hypothetical purchase scenario where you make a purchase of $200 Walmart gift card without considering any special promotion or $5 discount. Assuming you are making a purchase at 2% discount and Topcashback provides another 2%, thus your out of pocket expense to purchase $200 Walmart gift card would be "$200 - $4 (2%) - $3.92 (2% of $196) = $192.08. Saving of $7.92.. That's not much of a saving unless you read next..
Bring on Walmart!
Walmart sells visa gift cards of $200 for $206.88 ($6.88 is the fee for $200 visa gift card). The important thing to note is currently you can use Walmart e-gift card to make the purchase of these visa gift cards. You can combine 4 such e-gift cards for single purchase. There is no shipping fee for this and the transaction would go through without any issues as you are using Walmart's currency.
Combine the above two..
So, now if you combine Raise and Walmart together you will notice that your out of pocket fee is (-$1.04) for generating 200 points/miles using a credit card which gives only 1x. You can then use your favorite BlueBird Debit card to unload the $200 Visa gift card using your favorite Walmart again and thus generate free miles/points easily.
Note: If you use the Raise or TopCashBack link above I would get a small commission which I greatly appreciate. Thanks for reading!
I love traveling / backpacking. This blog focuses on 3 aspects: