Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

R$...for those afraid of the M

The last post in this topic was posted 1483 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

So as I have said to you before Snark, I think this is a great idea and something I am going to do as soon as I can get a SERVE account as after a little research, it appears to be a better bet than bluebird........... I cancelled bluebird today and was told that I would have to wait 30 days to open a SERVE account which kind of sucks but oh well. Anyway, I understand where you are coming from regarding getting everything including car payment and mortgage on the rewards credit cards................At the moment I am renting and there is physically no way I could even if I wanted to (as far as I am aware) pay using the SERVE account because I move the money for the rent to the landlord's account which just so happens to be at the same bank as me.......not sure if there is a way around that. Also the more I thought about it, I really don't want to mess with my car payment either now until i get my mortgage next year............so my next idea was to buy the gift cards, upload to SERVE and then use the bill pay of SERVE to pay the credit cards I used to buy the gift cards in the first place.......then repeat, repeat and repeat again.

That works too, that's the M$ playbook :good:

Share this post


Link to post
Share on other sites

I pay just about everything with my QS card. Only thing I don't use the card for is my gas bill (home), power bill, and rent. They have extra fees for using credit cards. I love this thread.

Share this post


Link to post
Share on other sites

Thanks for the post.

 

Focusing on Regular Spend makes people less likely to make unnecessary and/or frivolous purchases just to get up to minimum spend for the signup bonus.

 

Mortgage payments are by far the easiest thing to use for Regular Spend. Even if you don't have a mortgage yourself, you probably have a friend or family member that would let you make payments for them.

 

I've used ChargeSmart for about 2 years now. It makes minimum spend easier to hit, and I'm not tempted to buy things like fancy kitchen appliances I don't really need because a little voice inside me tells me that it's not as expensive as it seems because I can credit part of the signup bonus toward the purchase.

 

MP

Share this post


Link to post
Share on other sites

You will notice that several people on CB aren't incredibly congratulatory when people post approval threads for cards that don't offer much in return, hopefully this thread will help illuminate why, they are not elitists or snobs, they just know you can do better.

No, there's a few people that truly are jerks, to everyone.

 

Most of them tend to not post here anymore, so no real loss.

 

Everyone came here from the start because their sh** was all messed up.

 

Nobody comes here because they were born with a silver spoon in their mouth.

 

Some people tend to forget that once they feel empowered and educated enough.

 

I been around here for...a long time, and I've seen a few people that fit that mold just come and go

because they run out of people to abuse.

Share this post


Link to post
Share on other sites

 

 

You will notice that several people on CB aren't incredibly congratulatory when people post approval threads for cards that don't offer much in return, hopefully this thread will help illuminate why, they are not elitists or snobs, they just know you can do better.

No, there's a few people that truly are jerks, to everyone.

 

Most of them tend to not post here anymore, so no real loss.

 

Everyone came here from the start because their sh** was all messed up.

 

Nobody comes here because they were born with a silver spoon in their mouth.

 

Some people tend to forget that once they feel empowered and educated enough.

 

I been around here for...a long time, and I've seen a few people that fit that mold just come and go

because they run out of people to abuse.

I agree. I don't let it discourage me and my path. I'm sure if we took the time to dig deep enough, we would find some of these abusers are also on their 3rd or 4th rebuild too.

Share this post


Link to post
Share on other sites

Everyone came here from the start because their sh** was all messed up

Actually, some came here with great credit, still have great credit, and came here to take better advantage of their great credit, but way to go on the generalizations and name calling. :clapping: Good luck making money with that Buckle card.

Share this post


Link to post
Share on other sites

I been around here for...a long time, and I've seen a few people that fit that mold just come and go

because they run out of people to abuse.

 

What is your mission? To make sure that doesn't happen. :)

Share this post


Link to post
Share on other sites

Snark, instead of waiting the 30 days to be able to open a serve account, I opened one for my wife instead so hopefully I will be able to get rolling with this rewards builder sometime next week when she gets her permanent card. So in the meantime, I did some reading on other websites about the debit gift cards in general and whether right or wrong there seems to be a general consensus that the biggest issue with the cards is the pin number...............so just to reiterate the process you use, you go to Family dollar for example, buy a $500 vanilla debit visa gift card, go onto their website or call to activate the card....is this the point at which you get the pin number..... then you stroll back into family dollar, give them your serve card and inform them that you want to load $500 and you plug in your pin....and hey presto!!!!!!lol...........I hope it is this simple but some of the comments I have read elsewhere have slammed the issuers of some of these gift cards for not allowing pin numbers or giving pin numbers that don't work....without pin numbers to be able to put the load transaction through as debit the whole process is a non-starter. I know you said that people need to start small with the gift card purchases in order to figure out through trial and error which is the best and easiest way to successfully get through the whole process but have you discovered that full proof method that you are consisting using now or are you still experiencing hit and misses when it comes to loading to serve using the gift cards?

Share this post


Link to post
Share on other sites

 

Everyone came here from the start because their sh** was all messed up

Actually, some came here with great credit, still have great credit, and came here to take better advantage of their great credit, but way to go on the generalizations and name calling. :clapping: Good luck making money with that Buckle card.

 

 

Hey, sometimes they have a $1 off of $25 coupon. That's 4% CB ;)

Share this post


Link to post
Share on other sites

So in the meantime, I did some reading on other websites about the debit gift cards in general and whether right or wrong there seems to be a general consensus that the biggest issue with the cards is the pin number...............so just to reiterate the process you use, you go to Family dollar for example, buy a $500 vanilla debit visa gift card, go onto their website or call to activate the card....is this the point at which you get the pin number..... then you stroll back into family dollar, give them your serve card and inform them that you want to load $500 and you plug in your pin....and hey presto!!!!!!lol...........I hope it is this simple but some of the comments I have read elsewhere have slammed the issuers of some of these gift cards for not allowing pin numbers or giving pin numbers that don't work....without pin numbers to be able to put the load transaction through as debit the whole process is a non-starter. I know you said that people need to start small with the gift card purchases in order to figure out through trial and error which is the best and easiest way to successfully get through the whole process but have you discovered that full proof method that you are consisting using now or are you still experiencing hit and misses when it comes to loading to serve using the gift cards?

Good job researching the potential pitfalls :good:

1. I personally do not buy gift cards from Family Dollar, I buy them where I get the best cashback, in my case: grocery store, 7-11, and office supply stores. (Don't even know if they sell them at FD, lol, I have literally only ever gone straight to the register to load Serve with cards I've purchased elsewhere.)

2. I mostly buy (with the exception of 7-11 which sells Vanilla) Visa Gift Cards that are issued by meta bank and always call the number on the back of the gift card to verify they (1) were activated properly upon purchase (2) have the correct amount on them (3) set the pin to a common number, the same pin for all the cards for easy memory.

3. Cards purchased at 7-11 are Vanilla and already have the pin as the last 4 of card number and have an hour long automated script to change or reset pin so I don't bother, (my 99% of the time gift cards are Meta)

4. So, yeah, then I swoop into Family Dollar because it's most convenient, say "I need to load" they ask which card I want to load (they load more than just Serve there) I say "Serve", teller swipes some bar code to tell the register we are doing Serve, tells me, go ahead and swipe your Serve card, takes a second, then she asks how much, I tell her $500 and then swipe the gift card, enter the pin, reject any cash back, confirm the amount, and get a printed receipt and leave.

 

I have zero errors at Family dollar using Meta or Vanilla, hit and miss at Walmart (but not because of my gift cards)

Share this post


Link to post
Share on other sites

Do the VGCs cost money to load the initial 500.00 on them?

Every gift card (MGC, VGC, AGC) has purchase fees from $2.95 to $6.95 depending on the card type and amount. The best value to offset those fees is using a cashback card that earns you more than the purchase fee and purchasing the larger denomination gift cards.

 

$200 gift card with $6.95 fee costs you 3.4%, if you use a 5% cash back card you still gain 2.6%

$500 gift card with $6.95 fee costs you 1.3%, if you use a 5% cash back card you gain 3.7%

 

3.7% cashback on a $506.95 purchase gets you $18.75 cashback, just an example, you can do better than that.

Edited by NoPresetSnarkLimit

Share this post


Link to post
Share on other sites

Am I doing something wrong here? My Serve card won't load.

 

To try R$, I obtained a Serve card (basic blue) a few days ago from the Amex Serve website. I activated it online. I tried to load it at a WalMart Money Center ATM, but after I swiped the Serve card and selected the various load options (I tried them all), the load never happened. The ATM never gave me the opportunity to provide a money source of any kind; it just spit out a receipt saying $0 loaded. I took the card to the Walmart Money Center for a staff member to load. When the Serve card was swiped. her screen said that this card cannot be loaded, but only unloaded. The Serve card balance was $0, so this didn't even make sense. I went online and transferred $20 to my Serve card from my checking account, although the $20 hasn't cleared yet, thinking this might somehow further "activate" the card. I tried loading at a second WalMart (whose Kate ATM was out of order). The same thing happened at the Money Center--the card didn't even provide an option to attempt a load, but only to onload. The staffer called her supervisor, who also couldn't get the card to allow a load of any kind (either cash or debit). (Note that the fact that I was planning to load from a Visa debit gift card is not the issue because none of the attempted transactions ever got to the point of trying to load anything.) All three WalMart employees at the two stores said they had never seen this happen before. Any ideas?

Edited by cassadcj

Share this post


Link to post
Share on other sites

R$ example

 

Bobby pays $500 a month to DCU every month for his car loan. The loan has a great interest rate of 1.49% and Bobby pays approximately $19 dollars a month in interest charges.

Bobby usually pays his monthly car loan by writing a check.

 

Monthly loss of $19.00 in interest charges.

 

Bobby decides there's a better way, buys a $500 gift card at the grocery store using his Consumers Credit Union Visa card which earns 3% cash back at grocery stores. The gift card carries a fee of $5.95

Bobby charges $505.95 on his Visa and pays it off the next day. He earned $15.20 cashback on the purchase. He also earns fuel rewards from his grocery store for the purchase at 2 cents off a gallon of gas for every dollar spent so he earned $10.11 off of his next fill up at the pump.

 

$15.20 cashback - $5.95 fee = $9.25 profit from the gift card

$10.11 off his next gas purchase = $10.11 he doesn't need to spend

 

Load gift card to Serve and pay DCU from Serve. Bobby has essentially erased the interest charges he pays monthly to DCU. He applies the extra $19 a month he saved to his auto loan reducing the principal, reducing the interest charges, accelerating his pay off date.

Share this post


Link to post
Share on other sites

Am I doing something wrong here? My Serve card won't load.

 

To try R$, I obtained a Serve card (basic blue) a few days ago from the Amex Serve website. I activated it online. I tried to load it at a WalMart Money Center ATM, but after I swiped the Serve card and selected the various load options (I tried them all), the load never happened. The ATM never gave me the opportunity to provide a money source of any kind; it just spit out a receipt saying $0 loaded. I took the card to the Walmart Money Center for a staff member to load. When the Serve card was swiped. her screen said that this card cannot be loaded, but only unloaded. The Serve card balance was $0, so this didn't even make sense. I went online and transferred $20 to my Serve card from my checking account, although the $20 hasn't cleared yet, thinking this might somehow further "activate" the card. I tried loading at a second WalMart (whose Kate ATM was out of order). The same thing happened at the Money Center--the card didn't even provide an option to attempt a load, but only to onload. The staffer called her supervisor, who also couldn't get the card to allow a load of any kind (either cash or debit). (Note that the fact that I was planning to load from a Visa debit gift card is not the issue because none of the attempted transactions ever got to the point of trying to load anything.) All three WalMart employees at the two stores said they had never seen this happen before. Any ideas?

Yes, please add your experience to the M$ speed bumps thread. I have experienced the same at Walmart with a new blue version of Serve. Meanwhile, go to Family Dollar to load your card, no issues with new blue.

Share this post


Link to post
Share on other sites

Thanks, NPSL! I tried my new blue Serve card at Family Dollar and it worked perfectly and fast.

 

I will post about this on the M$ thread. I believe the "rules" have changed with the new blue Serve cards. When I activated the card, a message appeared saying that the Terms and Conditions had changed as of 8/x/15 (some date in early August that I don't recall now) and for cards with numbers starting with 37... (which my card does). However, the message didn't specify exactly what these changes are.

Share this post


Link to post
Share on other sites

Thanks, NPSL! I tried my new blue Serve card at Family Dollar and it worked perfectly and fast.

 

I will post about this on the M$ thread. I believe the "rules" have changed with the new blue Serve cards. When I activated the card, a message appeared saying that the Terms and Conditions had changed as of 8/x/15 (some date in early August that I don't recall now) and for cards with numbers starting with 37... (which my card does). However, the message didn't specify exactly what these changes are.

Yep, thanks. I recall seeing a graphic about Walmart coming soon, can't find it again, good data point on the 37

Share this post


Link to post
Share on other sites

I don't know why, but I'm really not understanding Step Eight. I'd like to use one of my cards to pay $1,100 rent...so how exactly do I do that? For whatever reason, I'm just not following your groceries example.

Share this post


Link to post
Share on other sites

I don't know why, but I'm really not understanding Step Eight. I'd like to use one of my cards to pay $1,100 rent...so how exactly do I do that? For whatever reason, I'm just not following your groceries example.

Liech, while Serve is better in many ways, the one reason I use Bluebird is because I got paper checks with it. Therefore I can just write a check for mortgage, rent, car payment etc.

With Serve you may be able to BillPay your rent. Not sure.

Share this post


Link to post
Share on other sites

I don't know why, but I'm really not understanding Step Eight. I'd like to use one of my cards to pay $1,100 rent...so how exactly do I do that? For whatever reason, I'm just not following your groceries example.

1.Get a Serve card.

2.Buy Visa Gift cards wherever you get the best cash back.

3. Load Gift cards on to Serve

4. Pay bills from Serve

Share this post


Link to post
Share on other sites

You have to determine if the card you have makes it worthwhile to do this. A credit card that gives you 1% cash back or 1 point may not be worth it. A 5% card definitely makes it worth it and you profit for your time.

Share this post


Link to post
Share on other sites

I only have 1.5 CB right now but I'm going to try it for one reason and one reason only, the 1.00 off of gas I will get. That's worth 100 a month to me.

Share this post


Link to post
Share on other sites
Sign in to follow this  




  • Member Statistics

    • Total Members
      179,024
    • Most Online
      2,046

    Newest Member
    ElectricToaster
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines