I doubt the kiosk boy cares... but I'm sure US Bank/Bancorp knows whats going on. and they might be concerned about their bottom dollar selling via SMs. unless SM is eating/sharing some of the cost or lack thereof from not using these VGCs as intended (and projected revenues per card esp at the max $500 load)

Finally had a glitch at Simon. Normal gals not on duty, newer gal pushed paperwork. Said I could speak to her manager although nothing I did indicated that was even necessary. Left without controversy. But, might be wise to be careful due to security cameras that "read" actions out of context.

In response, I will buy a few GCs at drugstores and try again later at Simon, but won't spend the fuel right now. Fuel worth it for $5-10K but not for the 2 card max I had this last time.

Won't pronounce it "over" but just not sure until then...

He said "airline miles". Same difference. I just said thanks, took my cards and went my way.

I somehow doubt that any bank would ever enter into a deal where they stood a chance at losing money. They would charge SM a merchant fee for each gift card purchase, and the swipes would be all additional profit.

However, SM is probably a prolific source of new merchant accounts, and they would take action to keep SM from losing money. It will take a while though: large IT departments can take months to make simple changes, and even making the decision to do so can take a while.

Just because no one talked about it here, doesn't mean someone hasn't been doing $10K a month in VGC purchases for a couple of years.

Really? So the financial meltdown of the country with bailouts to save banks and several other banks going out of business don't ring a bell?

Went in today to buy some cards with my normal CC. The cashier, who has been there on my last 3 out of 4 trips, inquired about why I purchase so many. I was truthful and said that I use them to pay bills that don't accept credit card. (True as I used them for BP at WM lol). Anyways, as usual she had to call for approval for anything over $500. Told her manager my name and said yes she's been here before. I partially wonder if they will start to try to stop me though that would really suck since I am using a real credit card and with matching ID.

are you getting these just to meet min spend or do you have a card that gives you unlim 5% even at SM?

Beforehand I was using Amex GCs (or at least trying to). Today I only did it so I could move some credit around to pay another card bill.

FTR, that was impractical from an MS perspective prior to the VGCs and other cards being allowed pins. However, from a ML perspective pins were less of an issue and no doubt there was volume.

lol seriously? like superorb pointed out, this might be the dumbest thing anyone has said around here in a serious tone.

banks by definition take risks everyday, ofc they get into all kinda deals where there are huge chances of losing money. hello, bear stearns, lehman brothers bankruptcy? AIG bailout for failing big time on credit default swaps and collateralized debt obligations?

if there was no chance of losing money banks would never approve you for a mortgage, heck forget that, they would never approve you a credit limit. or in cases like Amex follow up with FRs to make sure you were in a position to pay em back.

The Simon Malls in Minneapolis area, there are 3, I have been to 1. The limit just changed. Now if I get 5x$500 for 2500 total, they asked me to fill out a form......but wouldn't have to at 2000 limit level.

One month ago, the rule here was anything 3000+ would require a Tax ID #.

The person at the guest services desk said they wanted to avoid money laundering?

My question is.....what do they do with the form or Tax ID # if I fill it out?

How can you launder money if you're using a credit card issued in your name with a paper trail? Laundering would involve using the dirty cash to buy cash equivalents, NOT credit cards. Some people are clueless.

Exactly!! So all I can figure is that Simon Malls wants to keep track of repeat customers that buy in amounts 2500+. Which is kind of stupid because they have my credit card swipe from the purchases and they could run reports on my past purchases.

The only reason I could come up with is its a deterrent that makes the Mall management feel somehow safer. Stupid rule implemented by stupid management.

So today, I'm headed over to the Simon Mall to purchase 2000 worth, not 2500, I'll show them! Ridiculous.

When I most recently returned to buy $2K, they had a form with my name on it and wanted me to fill in my info and said next time it would be pre-filled in for me and I would just have to sign. I asked what do you do with this and she said it is just for the mall's internal records. She said the only way to skip the form was to not buy more than $500.