Wednesday, April 30, 2014

American Express Gift Cards - Another way to reach your spend



UPDATE: This forum will keep you up-to-date on all latest cash back for american express gift cards: https://www.flyertalk.com/forum/manufactured-spending/1412472-topcashback-2-25-amex-gift-cards-but-changes-fees-bigcrumbs-2-a-100.html

Problem: "I got a new credit card that will give me a $500 bonus when I spend $3,000 on the card within the first 3 months. However, I don't spend that much! What do I do?"

Solution: There are several ways to reach this spending threshold on your credit cards without losing money. I've mentioned a couple of ways to reach your spend on your new credit cards.  One method (Vanilla Reloads) no longer works. Here is another alternative to reaching your spending to get those big bonuses.

note: this is a little/lot more complicated and requires more time and patients, but if you follow the steps, it will work great!

Things you will need (all are free to get):
STEPS
  1. Login to your BigCrumbs.com account. 
  2. Search "American Express Gift Card" -- you'll see that the cash back bonus is currently 1.2%. 
  3. Click "SHOP NOW" and it will take you to American Express Gift Cards.
  4. Buy an American Express gift card with the credit card you are trying to reach the minimum spend on. To minimize the cost of fees and shipping, buy a $2,000 or $3,000 gift card. Shipping and fees will cost about $14. If you have a promo code or try the free premium shipping trial, you can minimize the fees and shipping costs.
  5. Receive the American Express gift card in the mail and activate it. 
  6. Call the number on the card to register the card with your address and phone number. If you don't do this, you can't make online purchases with the card. 
  7. Go to TopCashBack.com and search "GiftCardMall" 
  8. Click "Get Cash Back" -- Currently you will get 0.5% cash back from making your purchase on this site. 
  9. Purchase Visa Gift cards with the American Express Gift card you got in the mail (Step 5). If you got a $2,000 gift card then purchase 3 $500 gift cards and 1 $471 gift card (there are fees and shipping for this purchase also so you can't purchase $2,000 worth of gift cards because the total would then be over the $2,000 you have on your gift card). If you have a $3,000 gift card, purchase 5 $500 gift cards and 1 $457 gift card. Choose the cheapest shipping option. 
  10. Receive the gift cards in the mail. Activate the cards by calling the number on the card. 
  11. Go to Walmart and load your BlueBird card with these Visa Gift cards that you purchased. The pin is the LAST four digits on your Visa Gift Card's. 
  12. Now that the money is on your BlueBird card you can pay your bills (credit card bills, mortgage, rent, get the money sent to your bank account, whatever you want). 
Confused? Just follow the steps and you'll be fine. If you don't get it, then don't do it. This game may very likely be way too advanced for you. After you do it once, it will be tons easier the next time. The total time it takes me to do this is about 30 min. 

So Let's do the Math now for spending $3,000:

1.2% cash back you get from BigCrumbs.com = $36
0.5% cash back from TopCashBack.com = $15
1% cash back from my credit card (I'm assuming this is cash back, not points or miles) = $30
Total = $81 cash back

Total Fees and Shipping: $14 + $43 = $57

Total money made: $24!!! And I did all that spending so I qualify for the credit card bonus I was going for!!! Is it worth it to make $24? Probably not, but if it helps me make a minimum spend on my credit card to get a bonus, it is defiantly worth it. 

This method can actually be much more lucrative. Sometimes BigCrumbs will do promotions and give more cash back then the 1.2% (step 2) or maybe you have a promo code to waive the shipping costs or fees (step 4), or maybe your credit card will give you 2% cash back (step 4). Here's an example of when I did this method last time:
  • Purchased $3,000 American Express gift card with a 2% cash back credit card = $60
  • BigCrumbs was giving 3.5% cash back on American express cards as a promotion = $105
  • American Express had a promo for no fees and I used the free trial of premium shipping so I didn't have to pay the $14 fees and shipping (step 4)
  • 0.5% cash back from TopCashBack.com (step 8) = $15
Total Fees = $57
Total Cash Back = $60 + $105 + $15 = $180
Net = $180 - $57 = $123

Another thing to be aware of is that it takes 2-3 months for you to get the money (via Paypal) from BigCrumbs.com and from TopCashBack.com so you do have to be patient.






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