Wells Fargo Prepaid Cards

Old Aug 14, 12, 12:40 pm
  #46  
 
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Originally Posted by sk8uno View Post
Let's say, for the sake of argument, you explain to them exactly what you are doing so they know it's not laundering. Then what issue would they have?
Ask the cardinals who closed purchasing money orders, gift cards, etc. etc. etc.
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Old Aug 15, 12, 3:55 pm
  #47  
 
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Originally Posted by sk8uno View Post
I have what is almost certainly a stupid question resulting from me overlooking something painfully obvious, but here it goes:

Let's say you use Bank X's CC to load up the WF PPC. Why would Bank X care one way or the other if you were doing this repeatedly? From Bank X's financial perspective, isn't it no different than any other transaction? If you use the Bank X CC to buy $100 worth of candy vs $100 worth of WF PPC, is there any difference to what Bank X receives?
Cash advances are just statistically riskier transactions than purchases of goods and services. Their numbers prove that. So they treat cash advances differently to offset the increased risk. They charge fees and interest immediately.
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Old Aug 15, 12, 4:03 pm
  #48  
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Originally Posted by livestrongforever View Post
Everyone tread with caution. I can see Chase banning us for stuff like this. I dont want to become one of those horror stories where I cant access any of my UR points and chase closing all of my accounts. That would be a nightmare. I think i'll be conservative and do only about 2500 worth every quarter
First, I have no skin in this game-feel free to take my comments for what they are worth.

The quoted post is a very important one. You DO NOT want to be blacklisted from Chase. Chase controls a large percentage of the travel cards market and it's just not worth it to get greedy on one deal and be banned altogether.

Mike
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Old Aug 15, 12, 4:11 pm
  #49  
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Check this out if you want a better summation of my first post I think he may have done a better job with indentation and paragraph breaks.
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Old Aug 15, 12, 4:20 pm
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Originally Posted by DrSifu View Post
Check this out if you want a better summation of my first post I think he may have done a better job with indentation and paragraph breaks.
Love this:

Do this enough and you may wind up having to take calls from the Wells Fargo fraud prevention department, thatís not a problem just a hassle. And Chase presumably wonít like it, serial heavy users of this technique could attract their ire.
Not a problem, just a hassle. Oh, and maybe some "ire" raised.

Nice disclaimers for those who might jump in deep based on this post. Anyone who takes the advice of a travel blogger about handling his finances without doing deeper research may see this blow up in his face.
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Old Aug 15, 12, 5:31 pm
  #51  
 
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Originally Posted by mikeef View Post
First, I have no skin in this game-feel free to take my comments for what they are worth.

The quoted post is a very important one. You DO NOT want to be blacklisted from Chase. Chase controls a large percentage of the travel cards market and it's just not worth it to get greedy on one deal and be banned altogether.

Mike
I completely agree.
You hear a lot of reports of Chase banning people for taking advantage of the Ink 5% back at OD to buy prepaid cards. I personally wouldn't risk it--it's not just the Ink card that gets shut down it's ALL of your Chase cards.
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Old Aug 15, 12, 8:55 pm
  #52  
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i can only reload this with credit or debit card? can i load VANILLA RELOAD pack on this?

thanks
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Old Aug 16, 12, 12:05 am
  #53  
 
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Originally Posted by Bttc View Post
I completely agree.
You hear a lot of reports of Chase banning people for taking advantage of the Ink 5% back at OD to buy prepaid cards. I personally wouldn't risk it--it's not just the Ink card that gets shut down it's ALL of your Chase cards.
Where are these reports? I haven't seen this reported anywhere and I'm sure it would be big news if it was happening.
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Old Aug 16, 12, 1:37 pm
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Don't burn bridges with Chase, people. Not worth it. Their cards allow bank deposits via credit card to be classified as purchases unlike other banks and they have some of the best card offers. Shortsighted gold rushes often don't end well.

Originally Posted by mattolo View Post
Where are these reports? I haven't seen this reported anywhere and I'm sure it would be big news if it was happening.
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Old Aug 16, 12, 1:44 pm
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Hmmmm now what would Cardinal Fang's issues be - the transaction is not profitable, the transaction does not meet the intended purpose for extending credit, you expect the bank to trust you when you say you aren't laundering (ha, ha, ha - that is rich)...


Quote:
Originally Posted by sk8uno
Let's say, for the sake of argument, you explain to them exactly what you are doing so they know it's not laundering. Then what issue would they have?

Ask the cardinals who closed purchasing money orders, gift cards, etc. etc. etc.
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Old Aug 16, 12, 4:08 pm
  #56  
 
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Originally Posted by AlohaDaveKennedy View Post
Their cards allow bank deposits via credit card to be classified as purchases unlike other banks and they have some of the best card offers. Shortsighted gold rushes often don't end well.
I am curious, pl explain "Their cards allow bank deposits via credit card to be classified as purchases"

I tried to send a private message and this is what i get "AlohaDaveKennedy has exceeded their stored private messages quota and cannot accept further messages until they clear some space."
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Old Aug 16, 12, 5:37 pm
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Originally Posted by prasha11 View Post
I am curious, pl explain "Their cards allow bank deposits via credit card to be classified as purchases"

I tried to send a private message and this is what i get "AlohaDaveKennedy has exceeded their stored private messages quota and cannot accept further messages until they clear some space."
This should be straightforward. ADK's response was in English. Some card transactions are marked as cash advance (you pay a ~3% fee, and you earn rewards). Other (most) card transactions are marked as a purchase. You earn rewards on these transactions.
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Old Aug 16, 12, 7:04 pm
  #58  
 
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Originally Posted by AlohaDaveKennedy View Post
Don't burn bridges with Chase, people. Not worth it. Their cards allow bank deposits via credit card to be classified as purchases unlike other banks and they have some of the best card offers. Shortsighted gold rushes often don't end well.
When is the last time you tried?
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Old Aug 18, 12, 1:14 am
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Originally Posted by QL_714 View Post
When is the last time you tried?
It didn't work for funding a Chase checking account. Nice $10 cash advance fee and daily interest on a CSP
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Old Aug 21, 12, 9:16 am
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U.S. Bank?

.....

Last edited by gm9928; Aug 21, 12 at 10:38 am Reason: Apparently, idiocy.
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