Using very small residual GC balances
Jul 29, 2014, 8:39 am
#16
Join Date: May 2014
Posts: 466
Ironically, I would wager that Amex would prefer in this case that you zero-out the card. Will likely cost them a lot more than 10 cents to maintain live file for card, and put through their AUP compliance process to ultimately recover the balance. You're not doing them any favors, IMHO.
Jul 29, 2014, 8:48 am
#18
Original Poster
Join Date: Oct 2013
Posts: 1,322
Doesn't work that way. They can't just "forget" that the card has a 10 cent balance, they have to keep a live file for it, should it ever be presented for use. Upon expiration of the card, since they still have "your" 10 cents, they have to go through an escheat process, whereby they either keep it or send it to the state. There's no "writing it off."
Jul 29, 2014, 8:56 am
#19
Join Date: May 2014
Posts: 466
Doesn't work that way. They can't just "forget" that the card has a 10 cent balance, they have to keep a live file for it, should it ever be presented for use. Upon expiration of the card, since they still have "your" 10 cents, they have to go through an escheat process, whereby they either keep it or send it to the state. There's no "writing it off."
-I'm assuming that "keeping a live file" for the card means that the card number and balance remains in their computer/accounting system. I can't imagine that really costs anything.
-There is no lower limit to balances that have to go through the escheat process? The law says, "any balance, however small"??
EDIT: Bored at work, so poking around shows that most states do not, in fact, have a minimum. In which case, I have to assume that Amex is sophisticated enough to automate the whole process. Their computers dump a file to the state computers and make a lump sum transfer. Now it's the state's problem.
I could be wrong though. It's been known to happen...
Last edited by Tuppins; Jul 29, 2014 at 9:07 am
Jul 29, 2014, 9:09 am
#20
Join Date: May 2014
Location: New York
Posts: 391
Others are satisfied if they are in the black and use their time efficiently. To each his/her own 
Jul 29, 2014, 10:30 am
#23
Join Date: May 2014
Location: New York
Posts: 391
Jul 29, 2014, 11:42 am
#25
Join Date: Apr 2014
Posts: 1,273
Just for the sake of argument: automatic drain actually zaps balance in milli-seconds, considerably under your threshold.
Also, FWIW: I keep fresh GCs in packaging until ready to use, toss the ones I zero out as soon as I do it, and Sharpie the balance on small change ones that I save.
Also, FWIW: I keep fresh GCs in packaging until ready to use, toss the ones I zero out as soon as I do it, and Sharpie the balance on small change ones that I save.
If I have an odd number due to billpay or MO for things that produce odd numbers, I'll drain via grocery shopping. Fast. Easy. But I try to avoid remnants. Too complicated. A little like that HBO thing.
Jul 29, 2014, 12:09 pm
#26
Original Poster
Join Date: Oct 2013
Posts: 1,322
Not really. My usual MS approach is buying VGCs and liquidating by feeding bird (WM swipes) and MO purchases. Once the debit card charge is approved, and I have my bird credit or MO, I think my exposure wrt to the VGC has been eliminated. I do save my MO stub/receipt for a week or so, until I think the MO has been paid by MG or WU.
Jul 29, 2014, 12:42 pm
#27
Original Poster
Join Date: Oct 2013
Posts: 1,322
I stand by my earlier view that Amex (and any other issuer) would prefer that you zero-out a small-balance card.