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Old Feb 10, 05, 6:12 pm   #1
 
Join Date: Jun 2004
Posts: 71
What are the best ways to "liquidate" cards?

What are the best ways to "liquidate" prepaid debit/gift cards for cash. Although different prepaid cards have different T&C's and fees, what are all the options for turning plastic into money. Here are the ones I am aware of:

If you have a PIN

Money Orders ($0.44 at Walmart)
Traveler's Checks (Free at AAA)
ATM (Fees may vary)
Cashback at store (Usually free)
Cash advance at bank (Usually free)


If you don't have a PIN

Paypal (2.9% and may get your account froze by paypal)
Buy something at Costco and return it for cash (pretty sleazy)

Who knows of any other ones? What are the best places to get money orders at (my AAA is SLOW so I'll pay $0.50 for a MO, but if anyone know's ones with high dollar limits >$500 or low fees let's share!)
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Old Feb 10, 05, 10:27 pm   #2
ned
 
Join Date: Nov 2002
Programs: MTD pass holder
Posts: 1,026
When you figure out the best ways you may not want to post them! Things have a way of changing.
ned is offline   Reply With Quote
Old Feb 13, 05, 11:14 pm   #3
 
Join Date: Jan 2005
Location: MSP
Posts: 114
Quote:
Originally Posted by SCtrojan
What are the best ways to "liquidate" prepaid debit/gift cards for cash. Although different prepaid cards have different T&C's and fees, what are all the options for turning plastic into money. Here are the ones I am aware of:

If you have a PIN

Money Orders ($0.44 at Walmart)
Traveler's Checks (Free at AAA)
ATM (Fees may vary)
Cashback at store (Usually free)
Cash advance at bank (Usually free)

If you don't have a PIN

Paypal (2.9% and may get your account froze by paypal)
Buy something at Costco and return it for cash (pretty sleazy)

Who knows of any other ones? What are the best places to get money orders at (my AAA is SLOW so I'll pay $0.50 for a MO, but if anyone know's ones with high dollar limits >$500 or low fees let's share!)
If you are trying to figure out how to rack up extra miles on your airline affiliated credit card (like the Citibank AAdvantage card), you are in for a surprise. Traveler's Checks - will come across as a cash transaction on your Visa/MC. You will get hit with a large fee and you will not get any miles for it. Same for ATM. Balance transfers to your bank account will also not earn any miles/points.

If you are thinking about buying gift cards and cashing out, most gift cards will not give you cash back.
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Old Feb 15, 05, 5:58 am   #4
 
Join Date: Jun 2004
Posts: 71
Quote:
Originally Posted by JoeSixpack
If you are trying to figure out how to rack up extra miles on your airline affiliated credit card (like the Citibank AAdvantage card), you are in for a surprise. Traveler's Checks - will come across as a cash transaction on your Visa/MC. You will get hit with a large fee and you will not get any miles for it. Same for ATM. Balance transfers to your bank account will also not earn any miles/points. .
Yeah, I know, gone are the good ole days when you could.

Quote:
Originally Posted by JoeSixpack
If you are thinking about buying gift cards and cashing out, most gift cards will not give you cash back .
Yes, that was my intent. There are plenty of prepaid cards that allow you cash back, there's a thread about visabuxx over 250 posts long. I'm wondering if there are cheaper/easier ways to get cash back. At my local AAA the wait is always a half hour, so it's not worth the hassle, but I like the idea of free cashout.
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