2% profit + points at Best Buy
Mar 25, 2013, 3:26 pm
#16
Join Date: Feb 2013
Location: some premium cabin...
Posts: 390
All the Best Buy near me carry the $200 Visa card. They are usually found in the rack where the Best Buy gift cards are and are usually very close to the register. I have no problem paying for the Visa gift card entirely with Best Buy gift cards.
Mar 25, 2013, 6:17 pm
#17
Join Date: Feb 2013
Location: Atlanta (most of the time)
Posts: 285
To qualify as Manufactured Spending the process needs to end with an opportunity to recover the original cash outlay. There are other Flyertalk forums which are appropriate for discussing "good deals" which lack this characteristic. What I see here is:
However, then I see reports that step (2) isn't viable either because Best Buy will not allow gift cards to be used to purchase VISA cards -or- that Best Buy simply does not sell VISA cards. I would like to understand how often step (2) is viable to judge whether this warrants a separate thread, and whether it belongs in this forum.
- Purchase Best Buy giftcards at substantial discount
- Use Best Buy giftcards to purchase VISA cards at face value plus fee
- Use VISA cards to fund AP or similar
However, then I see reports that step (2) isn't viable either because Best Buy will not allow gift cards to be used to purchase VISA cards -or- that Best Buy simply does not sell VISA cards. I would like to understand how often step (2) is viable to judge whether this warrants a separate thread, and whether it belongs in this forum.
Best Buy Reward Zone is Best Buy's points earning program.
Generally, you earn 1 point for every dollar spent.
You can redeem 250 points increments for $5 in Best Buy gift certificate.
The discovery is that you can earn reward points for Best Buy Visa Gift Cards purchases using any points earning credit cards. It's like double dipping in points.
You can put $20 to $200. The fee is $5.95.
You will earn 205 Reward Zone points for this transaction, which equals $4.10 in Best Buy certificate value.
However, you can earn 25% more Reward Zone points for any purchase once you become a Reward Zone Premier Silver Member after spending $2500 at Best Buy.
Once you become a Silver Member, you will get 256 Reward Zone points for the same transaction. The value of $5.12 in Best Buy certificate.
You can purchase these with any points earning credit card! So you should be able to get at least 200 Membership Reward, 200 Ultimate Rewards, 200 SPG... etc.
Amex and Chase Freedom Cards have ran Best Buy promotions in the past that can make this more valuable.
Best Buy occationally runs 2x or 3x Reward Zone offers once you become a Silver Member.
I've been able to cash out these cards using Amex Serve in the past. Or load onto Target Amex to withdraw or buy Paypal or Vanilla reloads. That's how you get most of the cash back
There are additional benefits that you get from Best Buy by becoming a Premier Silver Member.
Once you've collected enough reward zone points. Use it to buy Amazon or iTunes gift cards or whatever you want from best buy to keep or sell.
If you follow these steps, you will get most of the money back, if not all. And you will gain points.
That's why this belongs in manufacture spending and not in Best Buy Reward Zone forum.
Granted, this may be too many steps for some, but if you want to add some variety to your spend, this may be a good option.
Last edited by Pointsloop; Mar 25, 2013 at 8:30 pm
Mar 25, 2013, 6:51 pm
#18
Join Date: Jul 2012
Posts: 24
<You will earn 205 Reward Zone points for this transaction>
You will earn RZ points only if you pay with a credit card. You do not get them if you pay with a best buy gift card. The original post suggests buying best buy gift cards and using them to buy the visa cards
You will earn RZ points only if you pay with a credit card. You do not get them if you pay with a best buy gift card. The original post suggests buying best buy gift cards and using them to buy the visa cards
Mar 25, 2013, 7:55 pm
#19
Join Date: Jan 2011
Posts: 249
Mar 27, 2013, 12:06 pm
#21
Original Poster
Join Date: Oct 2011
Location: up in the air
Programs: Hilton Gold, Club Carlson Gold
Posts: 219
I also have success using Best Buy Reward Zone certificate (250 points = $5 certificate) to buy Visa Gift Card at Best Buy too so working on your Best Buy Facebook daily thing does help
Mar 27, 2013, 12:55 pm
#22
Join Date: Jun 2005
Location: Sweet Home Chicago
Programs: Hilton Gold, Marriott Gold
Posts: 646
Geez, I'll explain it again...
Best Buy Reward Zone is Best Buy's points earning program.
Generally, you earn 1 point for every dollar spent.
You can redeem 250 points increments for $5 in Best Buy gift certificate.
The discovery is that you can earn reward points for Best Buy Visa Gift Cards purchases using any points earning credit cards. It's like double dipping in points.
You can put $20 to $200. The fee is $5.95.
You will earn 205 Reward Zone points for this transaction, which equals $4.10 in Best Buy certificate value.
However, you can earn 25% more Reward Zone points for any purchase once you become a Reward Zone Premier Silver Member after spending $2500 at Best Buy.
Once you become a Silver Member, you will get 256 Reward Zone points for the same transaction. The value of $5.12 in Best Buy certificate.
You can purchase these with any points earning credit card! So you should be able to get at least 200 Membership Reward, 200 Ultimate Rewards, 200 SPG... etc.
Amex and Chase Freedom Cards have ran Best Buy promotions in the past that can make this more valuable.
Best Buy occationally runs 2x or 3x Reward Zone offers once you become a Silver Member.
I've been able to cash out these cards using Amex Serve in the past. Or load onto Target Amex to withdraw or buy Paypal or Vanilla reloads. That's how you get most of the cash back
There are additional benefits that you get from Best Buy by becoming a Premier Silver Member.
Once you've collected enough reward zone points. Use it to buy Amazon or iTunes gift cards or whatever you want from best buy to keep or sell.
If you follow these steps, you will get most of the money back, if not all. And you will gain points.
That's why this belongs in manufacture spending and not in Best Buy Reward Zone forum.
Granted, this may be too many steps for some, but if you want to add some variety to your spend, this may be a good option.
Best Buy Reward Zone is Best Buy's points earning program.
Generally, you earn 1 point for every dollar spent.
You can redeem 250 points increments for $5 in Best Buy gift certificate.
The discovery is that you can earn reward points for Best Buy Visa Gift Cards purchases using any points earning credit cards. It's like double dipping in points.
You can put $20 to $200. The fee is $5.95.
You will earn 205 Reward Zone points for this transaction, which equals $4.10 in Best Buy certificate value.
However, you can earn 25% more Reward Zone points for any purchase once you become a Reward Zone Premier Silver Member after spending $2500 at Best Buy.
Once you become a Silver Member, you will get 256 Reward Zone points for the same transaction. The value of $5.12 in Best Buy certificate.
You can purchase these with any points earning credit card! So you should be able to get at least 200 Membership Reward, 200 Ultimate Rewards, 200 SPG... etc.
Amex and Chase Freedom Cards have ran Best Buy promotions in the past that can make this more valuable.
Best Buy occationally runs 2x or 3x Reward Zone offers once you become a Silver Member.
I've been able to cash out these cards using Amex Serve in the past. Or load onto Target Amex to withdraw or buy Paypal or Vanilla reloads. That's how you get most of the cash back
There are additional benefits that you get from Best Buy by becoming a Premier Silver Member.
Once you've collected enough reward zone points. Use it to buy Amazon or iTunes gift cards or whatever you want from best buy to keep or sell.
If you follow these steps, you will get most of the money back, if not all. And you will gain points.
That's why this belongs in manufacture spending and not in Best Buy Reward Zone forum.
Granted, this may be too many steps for some, but if you want to add some variety to your spend, this may be a good option.
I admit I'm not a shopping portal person, maybe there is some way to leverage those to make the math be better? That would eliminate the need to liquidate the GCs, plus there may be opportunities to increase the multiplier. But again you'd be left with merch to sell.
Mar 27, 2013, 1:03 pm
#23
Join Date: Jan 2011
Posts: 249
Really... IME the cash registers won't accept RZ cert as payment towards a Visa gift card. How long ago did you do this?
Mar 28, 2013, 12:29 am
#24
Join Date: Mar 2010
Location: Worldwide
Posts: 41
Sticking to the original idea of this post buying up gift cards using Cardpool/PlasticJungle with TCB - how do you get around the Cardpool limit on cashback for up to $1000 in purchases/sales of gift cards? Just create a separate Cardpool account? Separate Cardpool and separate TCB account (since I imagine it would not pay out if it links to the same TCB account)?
Mar 31, 2013, 8:45 am
#25
Original Poster
Join Date: Oct 2011
Location: up in the air
Programs: Hilton Gold, Club Carlson Gold
Posts: 219
Sticking to the original idea of this post buying up gift cards using Cardpool/PlasticJungle with TCB - how do you get around the Cardpool limit on cashback for up to $1000 in purchases/sales of gift cards? Just create a separate Cardpool account? Separate Cardpool and separate TCB account (since I imagine it would not pay out if it links to the same TCB account)?
There are many other ways to get Best Buy GC
Mar 31, 2013, 11:00 pm
#26
Join Date: Apr 2002
Location: Bay Area
Posts: 177
My experience with Cardpool....
Sticking to the original idea of this post buying up gift cards using Cardpool/PlasticJungle with TCB - how do you get around the Cardpool limit on cashback for up to $1000 in purchases/sales of gift cards? Just create a separate Cardpool account? Separate Cardpool and separate TCB account (since I imagine it would not pay out if it links to the same TCB account)?
What's interesting to me, is that the T&C's from Bestbuy.com regarding their gift cards is that using gc's to purchase other gc's does not seem to be expressly prohibited, unless you take their statement that BB gift cards can not be redeemed for cash (see bolded portion).
Gift Card Terms and Conditions
These terms and conditions apply to both Best Buy physical gift cards, and prepaid codes issued by Best Buy (e-gift cards), referred to jointly as Best Buy Gift Cards. The terms and conditions are subject to change from time to time. Additional terms and conditions may apply depending on how the Gift Card is delivered.
All U.S. Gift Cards are redeemable in any U.S. and Puerto Rico Best Buy retail locations, or online at BestBuy.com where available, for merchandise or services including Geek Squad services.
No expiration date; no fees
Not redeemable for cash.
Lost, stolen or damaged cards replaced only with valid proof of purchase to the extent of remaining card balance.
Not a credit or debit card.
Not valid as payment on a Best Buy credit card.
Check Gift Card balance at any U.S. and Puerto Rico Best Buy retail locations, online at BestBuy.com or call 1-888-716-7994 with Gift Card number.
Receipt will show remaining Gift Card balance.
Physical Gift Cards may be reloaded at any U.S. and Puerto Rico Best Buy retail locations.
All terms enforced except where prohibited by law.
Purchases of a physical Gift Card in any Best Buy retail location or online at Bestbuy.com are eligible for Reward Zone points, excluding Best Buy for Business or commercial purchases of Gift Cards.
See all help topics.
Still have questions?
Get answers online. Visit our Community Forums or Twelpforce.
Contact us.
Apr 1, 2013, 12:20 pm
#27
Join Date: May 2012
Posts: 168
I really want to love this idea and find a way to make it work. But anyway I do the math, it requires a credit card with 2X or more. I'm not a HH person, so the best I can do is 1.25X, which makes the cost about $0.0125 with some grunt work -- liquidating about $20k worth of $200 GC, plus selling some merch out of my trunk.
I admit I'm not a shopping portal person, maybe there is some way to leverage those to make the math be better? That would eliminate the need to liquidate the GCs, plus there may be opportunities to increase the multiplier. But again you'd be left with merch to sell.
I admit I'm not a shopping portal person, maybe there is some way to leverage those to make the math be better? That would eliminate the need to liquidate the GCs, plus there may be opportunities to increase the multiplier. But again you'd be left with merch to sell.
Code:
5 x $200 gift cards = $1000 - $30 in fees + $20 in cash back = $10 loss BB Reward Zone points = 1280 + $25.60 Sub Total + $15.60 Vanilla Reloads 5 @ $200 + 3.95 - $20 Final - $4.40
Apr 1, 2013, 7:48 pm
#28
Join Date: Jun 2005
Location: Sweet Home Chicago
Programs: Hilton Gold, Marriott Gold
Posts: 646
I don't even see it working with a 2% card. I've only included VRs, since from my understanding, of the ways listed that's the really only workable angle for now. What's wrong with my math?
If you exclude the 2% cash back and instead replace it with a miles card, you'll earn .024/mile. Not that great. But probably good for meeting min spend...
Code:
5 x $200 gift cards = $1000 - $30 in fees + $20 in cash back = $10 loss BB Reward Zone points = 1280 + $25.60 Sub Total + $15.60 Vanilla Reloads 5 @ $200 + 3.95 - $20 Final - $4.40
Vanilla Reloads
2 @ $500 + 3.95
- $8
Also, you earn $25 as a RZ Silver, not $25.60, but that's not a big deal.
Apr 4, 2013, 6:50 am
#30
Join Date: Nov 2011
Posts: 766
Geez, I'll explain it again...
Best Buy Reward Zone is Best Buy's points earning program.
Generally, you earn 1 point for every dollar spent.
You can redeem 250 points increments for $5 in Best Buy gift certificate.
The discovery is that you can earn reward points for Best Buy Visa Gift Cards purchases using any points earning credit cards. It's like double dipping in points.
You can put $20 to $200. The fee is $5.95.
You will earn 205 Reward Zone points for this transaction, which equals $4.10 in Best Buy certificate value.
However, you can earn 25% more Reward Zone points for any purchase once you become a Reward Zone Premier Silver Member after spending $2500 at Best Buy.
Once you become a Silver Member, you will get 256 Reward Zone points for the same transaction. The value of $5.12 in Best Buy certificate.
You can purchase these with any points earning credit card! So you should be able to get at least 200 Membership Reward, 200 Ultimate Rewards, 200 SPG... etc.
Amex and Chase Freedom Cards have ran Best Buy promotions in the past that can make this more valuable.
Best Buy occationally runs 2x or 3x Reward Zone offers once you become a Silver Member.
I've been able to cash out these cards using Amex Serve in the past. Or load onto Target Amex to withdraw or buy Paypal or Vanilla reloads. That's how you get most of the cash back
There are additional benefits that you get from Best Buy by becoming a Premier Silver Member.
Once you've collected enough reward zone points. Use it to buy Amazon or iTunes gift cards or whatever you want from best buy to keep or sell.
If you follow these steps, you will get most of the money back, if not all. And you will gain points.
That's why this belongs in manufacture spending and not in Best Buy Reward Zone forum.
Granted, this may be too many steps for some, but if you want to add some variety to your spend, this may be a good option.
Best Buy Reward Zone is Best Buy's points earning program.
Generally, you earn 1 point for every dollar spent.
You can redeem 250 points increments for $5 in Best Buy gift certificate.
The discovery is that you can earn reward points for Best Buy Visa Gift Cards purchases using any points earning credit cards. It's like double dipping in points.
You can put $20 to $200. The fee is $5.95.
You will earn 205 Reward Zone points for this transaction, which equals $4.10 in Best Buy certificate value.
However, you can earn 25% more Reward Zone points for any purchase once you become a Reward Zone Premier Silver Member after spending $2500 at Best Buy.
Once you become a Silver Member, you will get 256 Reward Zone points for the same transaction. The value of $5.12 in Best Buy certificate.
You can purchase these with any points earning credit card! So you should be able to get at least 200 Membership Reward, 200 Ultimate Rewards, 200 SPG... etc.
Amex and Chase Freedom Cards have ran Best Buy promotions in the past that can make this more valuable.
Best Buy occationally runs 2x or 3x Reward Zone offers once you become a Silver Member.
I've been able to cash out these cards using Amex Serve in the past. Or load onto Target Amex to withdraw or buy Paypal or Vanilla reloads. That's how you get most of the cash back
There are additional benefits that you get from Best Buy by becoming a Premier Silver Member.
Once you've collected enough reward zone points. Use it to buy Amazon or iTunes gift cards or whatever you want from best buy to keep or sell.
If you follow these steps, you will get most of the money back, if not all. And you will gain points.
That's why this belongs in manufacture spending and not in Best Buy Reward Zone forum.
Granted, this may be too many steps for some, but if you want to add some variety to your spend, this may be a good option.
Perhaps I am a alone, but ideal strategies:
1. You should break even.
2. You should get cash back to pay the original charge
This strategy fails on both counts. Unfair?