Originally Posted by
carpediem22
Thanks everybody for your helpful hints; of course I am more than happy to read to learn, but just not 66+ pages of FT. Anyway, I have already started reading and wonder whether there is some kind of a lexicon that explains what is BB/Kate/VGC and so on...? Also, I understand the concept of using a cash back / bonus points CC to buy the gift cards, but how does one reconvert the gift cards so acquired, back to cash, so that I can rinse and repeat?
A quick pointer on that would be much appreciated.
BB - Bluebird, Walmart's/Amex "bank". Load acceptable gift cards, bill pay back to your credit cards
Redbird or Redcard - Target's version of Bluebird
Kate - I believe it stands for "Kiosk at the entrance". Machine for loading BB. Every one I've been to has been out of service
VGC - Visa Gift Card. Purchased at Grocery stores, Walmart, Staples etc. Good for loading a BB or Redcard at Target and also puchasing Money Orders
Vanilla Visa - Similar to VGC but a little harder to load to BB. ($49.99 max at a time I believe). Good for loading Redcard at Target
Synopsis - Use points/miles/cashback earning CC to purchase pin enabled gift cards (VGC, Vanilla etc). Take those and load to Bluebird or Redcard, use those "banks" to pay off credit cards, rinse & repeat. Others use the gift cards to purchase money orders, deposit to their bank, pay off cards, repeat.
These are just a few of the terms you may need. There are many, many ways people MS. I learn something new every day by reading all of these threads. Good luck!