Success: Found if you pay via Paypal (same 2% fees) theres no daily limit, or at least not one I've hit yet
Originally Posted by
Dr Jabadski
I'm curious, hope you don't mind my asking. 200 cards in $100 increments seems to me like "a lot". What is the savings (amount) and is it "worth" all the additional time and energy involved? Thank you.
Giftcards.com was selling $100 gift cards for $95.59 (inclusive of activation fee) each for their summer sale. This was less of a hassle when they were doing sales on larger cards (eg last year was $250 per card).
In terms of the math, NYC charges 2% on CC or Paypal transactions. So each card provides a $98.04 payment towards tax after losing $1.96 in CC fees. So about 2.56% (or $2.45) in "savings" per transaction or $490 total across 200 cards. Assuming you use a 2% cash back card it's another $382~ in cash back. Total "benefit" for 200 cards is $872. i generally do it for points or frequent flyer miles, instead of cash back which depending on how you value them could be more or less than 2%.
Is it worth the effort? Probably not the best use of your time, but you could say that about any manufactured spending. But it lets me generate card spend in an area i'd normally just be wiring in payment for, and why not save 4% on stupid high NYC property tax?