nshah

Yeah at first when I heard the voice mail, I thought it was horrible news (I've been banned or something like that). Was glad that wasn't the case

I've been very impressed with all of them (probably dealt with 5 reps or so?), always seem to be happy to help... Although there's never been a line when I've gone, so I'm sure that helps.

I actually wish they DID get commission or something so I could help them out that way.

AlohaDaveKennedy

Free bottles of water, of course.

CWAL

Ah, yes, I'd forgotten that one, my go-to mall doesn't usually offer...

AlohaDaveKennedy

Heading out to MS in The Land of Enchantment. Anyone know if the Simons in ABQ sell GCs? Doesn't look like it from the mall maps, but you never can tell.

hyperdallas

is it worth it to apply to get the 1k cards?

DjRocket

Greetings, I've been curious for a while about Simon GC's, but was exploring other venues. I finally have found a Simon Mall in the area and will go on a try-out this weekend. A lot of useful tips here in this thread, thanks very much for the insights! Still not sure I completely understand the value of Simon though when compared to other MS venues, like buying GCs from giftcards.com through a portal. It can't be cost, because thanks to cashback portals, the cost is comparable to Simon GCs, perhaps even less. It must be the volume then? So if I'm not doing MS more than $5k a day, are there any practical advantages to driving to Simon Malls?

Also, so I understand the net value here (vs. costs of doing the "business"), it seems like this is what you net in a day by purchasing $10k Simon GCs on a 2% cashback CC, and cashing them out in WM's at a cost $0.7 per $1k MO: $10k * 0.02% - 20 * $3.95 - 10 * $0.7 = $114 in a day. Did I get this right?


EDIT: Clearly I'm ignoring the incidental and opportunity costs, which are highly variable among individuals. This is just straight cash net.

FlightNurse

HOw are you going to cash out these MO?

DjRocket

Deposit into different checking acct., slowly of course, as some nice folks recommended here : ) Not sure there's a better option at this time.

ORD-TGU

You got the math right, but if it were only that simple to get MO. More and More, WM is getting stricter with MO. I would not do all the hassle for $114 cash profit. I only do it for target retention spend offer, bonuses and sign up spend were the benefits far exceed the $114. It was easier in the past with multiple Serves/BB and Kates.

DjRocket

Well that's exactly what motivated my question. Unless you're banned from the online gift card stores and you need to meet minimum spend requirements, I want to see if there's anything more than $114 a day to justify that much hassle.

I know what you're saying about WMs. Two of them in my area already stopped selling MO's for GCs. Since there was nothing to lose at that point, I spoke with the manager and explained exactly what I was doing, and that the activity is totally legal, and he shouldn't have any problem with that. While he seemed understanding, he basically said he can't participate in that type of activity because it goes against the intended use of gift cards and MOs. He did offer to speak to the regional manager who handles those types of matters, but I declined since that could bring about unintended consequences for other WMs : )

Chelski

deposits have never been a problem for me. Been doing at least 5 figures every week in single banks.

Henla

I don't believe any WM would openly accept GCs, so I can't see value in asking them to. WMs in my area don't openly accept them either, but I buy MOs there fine. Just don't show them the GCs.

As for speaking to managers, it's probably better just to keep quiet, so as not to encourage implementation of (or at least not to encourage expedited implementation of) automated anti-GC countermeasures. Instead, learn to operate within the current environment, as that's what we have.

tcook052

Let's please keep the WM discussion for the appropriate WM thread.

tcook052
MS forum moderator

craz

Sounds nice on paper, but it will more likely result in 2 MOs per WM = at a min.Then you will get hit with long lines at the CS/MC or after waiting and its your turn the ,Sorry the printer is broken , no MOS today. To unload $10k Id say I would need to hit 8 WMs as many wont let you get a 2nd if you didnt do it all as 1 transaction, and if you tell them you want 2 then you beter pray each swipe goes thru otherwise its KOed. Then when they hear $2k they arent so happy to do it and in many cases want the OK from the mgr who will ask to see the cards youre using or even take it and want to swipe it themselves. Net result hours to unload $10k and at least a tank of gas

Net result is your net will be <$100 and who knows the # of hours needed so you might avg $15 an hour.

FlightNurse

I would play with MO's, they are a hassle, but we all have our limits.