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I read somewhere in the forums that Amazon purchases will count on Sallie Mae MC's as bookstore purchases. So I was thinking maybe use Amazon Payments and rack up 5% cash back!
Has anyone done it before??
@enxinas wrote:I read somewhere in the forums that Amazon purchases will count on Sallie Mae MC's as bookstore purchases. So I was thinking maybe use Amazon Payments and rack up 5% cash back!
Has anyone done it before??
At least on other cards, Amazon Payments reports as differently from Amazon
Ohh ok thanks!
@enxinas wrote:Ohh ok thanks!
Yes, I'm not aware of any great way of manufacturing spend on this card, because the limits are so low. So while you could buy a $250 MC/Visa gift card at a supermarket, and cash it out at Walmart, that would gain you about $7 after fees, but you can do better spending the $250 on "real" groceries and make $12.50!
And even if the $750 limit on bookstores can be exploited, it's probably not worth risking account closure for a max of $37.50 per month, the people with this card generally get it because it is a great match to their spending, and they want to keep it!
@Haroon wrote:
Why would you do that? Walmart counts as a grocery store for this card.
regular walmarts usually don't have grocery store/supermarket mcc
@longtimelurker wrote:
@enxinas wrote:Ohh ok thanks!
Yes, I'm not aware of any great way of manufacturing spend on this card, because the limits are so low. So while you could buy a $250 MC/Visa gift card at a supermarket, and cash it out at Walmart, that would gain you about $7 after fees, but you can do better spending the $250 on "real" groceries and make $12.50!
And even if the $750 limit on bookstores can be exploited, it's probably not worth risking account closure for a max of $37.50 per month, the people with this card generally get it because it is a great match to their spending, and they want to keep it!
Actually, the reason I got the SM MC is because I will use it for gas and groceries. The amazon payments is more of an afterthought.
@Haroon wrote:
Why would you do that? Walmart counts as a grocery store for this card.
Well, as I said, you wouldn't! But in general, with a card with a much higher limit, or uncapped, this is the way to increase rewards. I don't spend $5K on real groceries a month, but if my card and supermarket allows me to buy $5K in Visa/MC gift cards, I can cash these out at Walmart in various ways, and end up spending about $60 and get the rewards on $5K spend, which with a 5x card is $250. And some are spending 5-10x that, every month, and that adds up!
But with this card, $250 a month cap is pretty low, and many will spend that on real groceries and so no temptation to do anything else.