Monday, December 3, 2012

PayPal Money Load Card

The Frequent Miler did a presentation this past FTU regarding reload cards and I found the PayPal "reload" card to be of interest. For some reason I had not caught this one previously but I thought it would be a great alternative to meet minimum spends or earn lots of points.

I went to my local CVS and found that they had some so I bought one using my Hilton Amex card. This card gives you 6 points per dollar at grocery stores and CVS would be considered a grocery for Amex. FYI reload and gift cards to not count towards cash back on your Extra Care Card.

I purchased the card for $3.95 and loaded the max of $500 on it. I went home and loaded the amount to my paypal account using this site. The max you can load is $500 per day or $4,000 per month. You can then use your cash in paypal to make purchases, transfer to others, or transfer to your bank. Be careful not to look suspicious and add funds and immediately withdraw to your bank as you may get shut down. So word of caution...USE AT OWN RISK. Applying for a PayPal Debit Card may be an option which can then be loaded to bluebird but don't know if this will work. Experiment in the works.

Update: A reader informed me that he did not have success purchasing a paypal card with credit card as they only accepted cash. So your experience may very by store.

I was thinking of other cards I could use to earn points or miles lucratively and the new Club Carlson Premier Visa came to mind because it earns 5 points per dollar anywhere. So hypothetically if I were to max out on paypal load cards at $4,000/mo, I could earn 240,000 for about $380 for the year. I think this is a great deal considering a hotel can go for 250+ per night say at NY or London but can be redeemed for 50,000 points. Plus with the credit card you can get a free night after redeeming points for 2+ nights. Off to CVS I go (hope I can stay under the radar on this one)

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15 comments:

  1. From everything I read it seems PayPal is hyper-sensitive to this type of maneuvering. Did Frequent Miler have any other ideas about how to liquidate these cards? I have applied for a paypal debit card to try and obscure the trail a bit but I am very concerned about getting shut down. I am thinking very hard right now about how to play this.

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    1. He suggested keeping your money in the account for a while but there were no new suggestions. I have a 2nd paypal account that I'm going to try this method on and will let ya'll know how it goes.

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  2. Careful with this one - they've been shutting down accounts. The Points Guy did a post about this and even he got a warning from PayPal.

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    1. Thanks for the heads up! I found the post

      http://thepointsguy.com/2012/11/there-are-more-flavors-than-vanilla-maximizing-miles-and-points-with-green-dot-paypal/

      I'm going to take a risk and try it with my 2nd paypal account and take it slow and see what happens.

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  3. The site you use/link about is paypal-cash.com, but the back of the card says paypal.com/cash

    Any difference?

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  4. Ok seems like the second link gets redirected to the first:-)

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  5. Yup there is no difference :) Thanks for the inquiry

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  6. I don't trust Paypal and Cartera and.........

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  7. At first I thought it said the Cartel...I guess paypal could be considered a cartel :p

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  8. How can a Paypal debit card possibly loaded into BB? I am also confused about what a debit card is (never had one, unless an ATM card with a MC log counts) since you can buy $100 MC and Visa gift cards at grocery stores that also have the word Debit on them. Are those different types of debit cards?

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  9. A debit card is a card that allows you to access cash that you already have in the bank. The reason I am thinking BB would accept a paypal debit card is because it would be accessing cash in my paypal account. I will have to see if this works. An ATM card associated with a bank only allows you to access cash while debit card allows you to access cash and make purchases. The MC and Visa gift cards that say debit on them are different because it has a set amount of money loaded on them to use, you cannot use them at ATMs, and you do not need a pin # to make purchases. I hope this explanation helps.

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  10. Any luck with loading BlueBird via the PayPal debit card?

    Thanks!

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