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 below 3 aspects of travel:
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