When you’re doing large amounts of manufactured spending, small gift card fees of $3.95 – $5.95 can really add up to a substantial amount. Suddenly, that business class seat doesn’t seem like much of a bargain when you factor in how much time and money you spent on earning it. While cash back portals like Yazing and Topcashback make it possible to substantially off-set gift card fees on online purchases, that only goes so far. Thanks to Noon Radar, I came across another gift card buying option that eliminates fees entirely and leaves you with a profit: Through December 10, GiftCardMall is offering a 5% discount on Visa gift cards. These aren’t just any gift cards – they’re the 5% cash back Visas that earn (you guessed it) 5% cash back at participating retailers.
What makes this Gift Card Mall deal so great is that it can be stacked with 1.25% portal cash back. Plus, if you end up shopping at a participating retailer rather than cashing the card out via money orders, you earn an additional 5% back on the card. The 5% discount offered by Gift Card Mall is actually applied at checkout. So buying two $500Visa gift cards, which would normally cost $1,011.90 with fees and free shipping, comes out to $961.90. That’s a $38.10 profit per $1,000 order! That’s without the 1.25% portal cash back, which results in another $12 in cash back.
Now unfortunately I can’t get a single one of my credit cards or those belonging to my family to go through at Gift Card Mall. For months now I’ve had this problem. The cards just decline and this happens even though 1.) there’s plenty of available credit on these cards and 2.) I check out as a guest rather than signing into my account. I’ve tried it both ways, figuring maybe signing in (or out) might make a difference. That isn’t the case.
I’m going to give Gift Card Mall and a few credit card companies a call later to see if I can find a solution. My suspicion is that my credit cards are processing Gift Card Mall transactions as cash advances and since my cash advance limits are low, the transactions get declined. We’ll see. In the meantime, I thought it was worth getting the word out about this deal, since it’s way too good to pass up.
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