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Vanilla Reload Vs. MoneyPak?

Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


unc0mm0n1 wrote:I would like to diversify providers (those are all Chase). but I think as long as we don't exceed our stated house hold income, each of us does spends about 3/4 of our stated household income,  i don't think there will be an issue. I haven't had a problem yet.

 


If I were doing it (not that I'm above it, just they've eliminated it in my area by accepting only cash), I'd just MS below my stated income with a variety of rotating cards and other purchases mixed in.

 

This should be fine in 99% of the cases.  The only people who are at risk are those MS'ing high enough ($150K per month), where the losses become intolerable for the issuers, i.e., Chase and Citi closing cards.  So long as you show income, AmEx will allow it unabated.  They don't care, and if they did, would just cap the Blue Cash cards.

 

The single biggest risk is to be associated with the fraud or money laundering triggers.  I suspect, issuers care more about this than losing on the swipe fees.

Established Contributor

Re: Vanilla Reload Vs. MoneyPak?

just figured i would try and buy a vr from the local 7/11 that had them and declined .. not by my CC but when she ran the sale through I guess they dont allow you to pay by cc

CSR | Ink Business Preferred | Amex Platinum | NFCU Cash Rewards
Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


darkfrosty wrote:

just figured i would try and buy a vr from the local 7/11 that had them and declined .. not by my CC but when she ran the sale through I guess they dont allow you to pay by cc


Right, in my area (been this way for a while), these things can only be bought by cash (actual currency), not even with a debit card pin purchase.

Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


longtimelurker wrote:

darkfrosty wrote:

i just want to start msing to get a ton of miles lol .. i wanna hit 1million miles


If this is your real goal, sign up bonuses are the way to go (with MS to cover minimum spend)


+1

 

You accrue more miles with much less risk and effort.  Moreover, MS is great for ROE, not really miles accural, which would only be devalued.  As MS miles accrual intensifies, miles points will face more devaluation pressure.

 

With this strategy, cash is king, especially given the historically low rates.  Redeem for $$, and spend or invest in capital markets.

Established Contributor

Re: Vanilla Reload Vs. MoneyPak?

according to flyertalk .. certain cvs's allow it still .. so i gotta check em out .. 

 

i dont know any other way that is easy to ms as the vr / bb method

CSR | Ink Business Preferred | Amex Platinum | NFCU Cash Rewards
Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


Open123 wrote:


The only people who are at risk are those MS'ing high enough ($150K per month), where the losses become intolerable for the issuers, i.e., Chase and Citi closing cards. 


And even then, for some reason, Citi seems to tolerate it on the 5xTYP after its mass shutdown, perhaps because it is time limited.  (recent post on FT of $135K spend last month on just that card).

Established Contributor

Re: Vanilla Reload Vs. MoneyPak?

150k a month .. wow .. i cant even imagine how much work that must be

CSR | Ink Business Preferred | Amex Platinum | NFCU Cash Rewards
Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


longtimelurker wrote:

Open123 wrote:


The only people who are at risk are those MS'ing high enough ($150K per month), where the losses become intolerable for the issuers, i.e., Chase and Citi closing cards. 


And even then, for some reason, Citi seems to tolerate it on the 5xTYP after its mass shutdown, perhaps because it is time limited.  (recent post on FT of $135K spend last month on just that card).


In my experience, Citi has always, from the legal perspective, acted before they've thought it out.  During the shutdown, I thought they finally grew a backbone in that organization, but per their culture, a few legal threats, motions filed, and think wilter, as they always have in the past.

 

I sense with their 5X TYP, it's safe to MS, so long as one avoids the usual fraud and money laundering triggers.  My friend in the east coast MS'ed $30K on this card last year. Not bad!

Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


darkfrosty wrote:

150k a month .. wow .. i cant even imagine how much work that must be


Well, not the way he did it, but you COULD just go to CVS every day, buy the allowed $5K VR, and there's your $150K a month!   But there are lots of places that provide various tools for MS, but you obviously would have to put a lot of effort into this, more than just casual.

Super Contributor

Re: Vanilla Reload Vs. MoneyPak?


darkfrosty wrote:

according to flyertalk .. certain cvs's allow it still .. so i gotta check em out .. 

 

i dont know any other way that is easy to ms as the vr / bb method


All the CVS around here allow it, but stores are allowed to set their own individual policy.  At one, the supervisor will only sell $1000 per visit, but her staff will sell up to $5K