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Warning for CA Bay Area players
At my Campbell C-VS this AM the manager told me they just received an alert on VR as someone at the Palo Alto store walked out with 50 cards. a) If the clown that did this is one of us, please stop. This is abusive and draws unnecessary attention. Plus it is really piggy and rude to everyone else here who has probably helped you in your game or learning. b) If it isn't a miles junkie then be aware that some of the fraud (mostly Atlanta) that has been reported with VR might be coming to a CVS near you. Check your activations and unload quickly. |
Originally Posted by 3ZeroT
(Post 21243166)
It has been fairly well established the CVS store is losing money on each VR CC transaction. Store managers have complained to people about P&L reports, etc.
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Originally Posted by ma91pmh
(Post 21243327)
"fairly well established" by whom? us clowns on here? you've got to be kidding me. if they are losing money, it seems highly unlikely that they would increase the limit. if someone is punching you and it hurts, you don't ask them to do it more
My thought exactly. I am sure Vanilla Reload(Incomm) compensate CeVeS for the cards they sell in store. Very odd reason for it to increase to $5k limit if they already are losing $$ with $1k limit. At $1k limit, it will bring 5x as much traffic to store than the limit @$5k, and every times i am there, i normally pick up something that I may not necessary need. Of course I wont go crazy and spend 5k at CeVeS in 1 transactions but It is better to have different amount showing in your credit card(s), imo. |
Originally Posted by rdover1
(Post 21243385)
Warning for CA Bay Area players
At my Campbell C-VS this AM the manager told me they just received an alert on VR as someone at the Palo Alto store walked out with 50 cards. a) If the clown that did this is one of us, please stop. This is abusive and draws unnecessary attention. Plus it is really piggy and rude to everyone else here who has probably helped you in your game or learning. b) If it isn't a miles junkie then be aware that some of the fraud (mostly Atlanta) that has been reported with VR might be coming to a CVS near you. Check your activations and unload quickly. I thought the limit is $5k, how he can get away with $25k??? |
Originally Posted by oozze
(Post 21243448)
walk out as filling $500 on each card or walk out with the cards unloaded?
I thought the limit is $5k, how he can get away with $25k??? Crazy... |
what for though? you need to load them anyway.
On 2nd thought, I know why.. soon, they will put camera above gift card's rack lol. |
Originally Posted by oozze
(Post 21243515)
what for though? you need to load them anyway.
Or if he is a miles junky, now all he would have to do is bring VR's with him to CVS to activate instead of worrying if there are any in stock. |
Originally Posted by 3ZeroT
(Post 21243166)
It has been fairly well established the CVS store is losing money on each VR CC transaction. Store managers have complained to people about P&L reports, etc. A sensible business decision would be to scan DL to mitigate risk but keep limit to $1k/day, as any legit prepaid user would not need more than that. But why would corporate sanction an increase to $5k/day, only multiplying store losses for the benefit of churners?) I am going to stay a bit paranoid until someone can explain the business case behind it...
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Originally Posted by mittenfingerz
(Post 21242846)
Is it all possible CVS saw what we are doing, churners specifically, and decided they are OK with it? Then developed a policy to reign in excessive abuse (more than 5k a day) and also institute security measures (DL scans) to cover their butts on any legal/tax fronts. Is that possible? Otherwise this does feel like a sting operation. Are those the only two possibilities?
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Originally Posted by TheBOSman
(Post 21240820)
Only thing I'll be cutting with a knife anytime soon is my chilean bass on my upcoming SQ flight, TYVM ;).
Originally Posted by drdrew450
(Post 21242936)
I think if they wanted to shut it down they would, they are OK with us, this is just a security measure to ensure people are not buying with stolen credit cards.
Originally Posted by 3ZeroT
(Post 21243166)
It has been fairly well established the CVS store is losing money on each VR CC transaction. Store managers have complained to people about P&L reports, etc. A sensible business decision would be to scan DL to mitigate risk but keep limit to $1k/day, as any legit prepaid user would not need more than that. But why would corporate sanction an increase to $5k/day, only multiplying store losses for the benefit of churners?) I am going to stay a bit paranoid until someone can explain the business case behind it...
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Originally Posted by rdover1
(Post 21243385)
Warning for CA Bay Area players
At my Campbell C-VS this AM the manager told me they just received an alert on VR as someone at the Palo Alto store walked out with 50 cards. a) If the clown that did this is one of us, please stop. This is abusive and draws unnecessary attention. Plus it is really piggy and rude to everyone else here who has probably helped you in your game or learning. b) If it isn't a miles junkie then be aware that some of the fraud (mostly Atlanta) that has been reported with VR might be coming to a CVS near you. Check your activations and unload quickly. |
Originally Posted by TheDapperDon
(Post 21243865)
If I saw someone taking them, I would snitch. It's very greedy. Folks in here have posted photos. It's ridiculous.
This is one step below the people that hide them....I have found a cache "hidden" under some other gift cards. No way did they get there on their own. So sad....This hobby is not as much fun as it use to be. |
Some in the industry have reported (not just on FT) how slim the profit margin is on selling prepaid reloads and it being wiped out by a CC interchange fee paid on say a $500 VR. But lets optimistically assume CVS is compensated $10+ for every $500 VR and their interchange fee is under 2%. If that is the case, then InComm or the prepaid business must be losing the money because we all know $10 in fees per $500 is not collected on the transaction when a churner unloads it. And I wouldn't be surprised if at least 90 out of 100 VR dollars in the country are being churned. I ask the cashiers and there is an occasional 'underbanked' buyer paying some cash for a reload while 20x$500 get cleared from the shelves. I don't see how someone in the business isn't losing money, I doubt it is the party that depends entirely on that activity to make a profit, but I could see a store taking a small loss to allow CC for convenience if it gets you in to buy other high profit items in the store.
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Originally Posted by ramalama8
(Post 21243841)
^^ I'm actually totally fine with the paranoia around here. More for me :D:D
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Originally Posted by TheBOSman
(Post 21240820)
Only thing I'll be cutting with a knife anytime soon is my chilean bass on my upcoming SQ flight, TYVM ;).
Mike |
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