Quote:
Originally Posted by blueski
Does anyone know if you can buy Walmart gift cards at Safeway our Superstore?
|
So looking into this a bit more. Apparently Safeway will let you purchase a pre-paid visa. Here's what I'm thinking:
1) Sign up for scotia bank infinite visa
2) Purchase up to 25k in pre-paid visa cards with it. Just be sure to pay your monthly balance on time!
Here on the safeway.ca site it lists a prepaid visa as one of the cards they sell:
https://www.safeway.ca/giftcard09.asp
3) Use the pre-paid visa every where. Costco, Any gas station and so on. Even pay your typical re-curring charges with it. All at 4% cash back.
4) After the 25k is used up, repeat above but only get 2% back.
So, Has anyone ever tried this?
Can you make mortgage payments with a prepaid visa?
edit:
Apparently merchants are closing this loophole:
http://www.giftcards.com/gcgf/cash-off-giftcards
Just Plain Sneaky. A customer uses their credit card to buy prepaid cards at the grocery store in order to rack up gasoline perks from the store or airline miles from the credit card company (or both). Then, the buyer takes the prepaid card to an ATM to withdraw cash. The cash is then used to pay off the balance of the credit card. With merchants tracking prepaid purchasers, abusers of the system can be found. Also, merchants are increasingly closing this loophole by requiring that prepaid cards be purchased with debit cards instead of credit. Since gift cards can’t be used to obtain cash, the loophole doesn’t work.
Also prepaid visa or visa gift cards have fees which makes it a wash.
Great Thread!