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Experience with Gift of College 2018- onwards

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Experience with Gift of College 2018- onwards

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Old Oct 3, 2018, 9:38 pm
  #46  
 
Join Date: Jun 2016
Posts: 46
Originally Posted by brokestudent
Does anyone know how the Fred Meyer's purchases code? There are some about an hour away inside a Kroger.
You're in totally wrong thread!
ST4LKER is offline  
Old Oct 4, 2018, 5:13 pm
  #47  
 
Join Date: Jun 2013
Posts: 92
Quote:
Originally Posted by brokestudent Does anyone know how the Fred Meyer's purchases code? There are some about an hour away inside a Kroger.
Originally Posted by ST4LKER
You're in totally wrong thread!
Fred's Pharmacy is listed as a seller of GOC GC's. Fred Meyer pharmacies are sometimes inside Kroger stores. So maybe they just had their Fred's mixed up.
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Old Oct 4, 2018, 5:42 pm
  #48  
 
Join Date: Jun 2013
Posts: 92
Originally Posted by crapz1
Any cards that give bonus points for B&N spend? I've got quite a bit of college funding to do, so might make the fee worth it.
Barclays B&N MC has 5% rebate credit. Marvel MC is 3%..
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Old Oct 6, 2018, 5:12 pm
  #49  
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There is a remote chance that Toy R Us may come back, or as it was speculated. The auction did not go well.
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Old Oct 9, 2018, 6:44 pm
  #50  
 
Join Date: Jun 2013
Posts: 92
My B&N store doesn't have any GC's yet, but for anyone that does, you might try buying a GoC card with the joyful adolescent cards being discussed in the ODOM thread.. They are free (better than free this week) and they successfully ran today as a CC at B&N. It first asked for a PIN, but two clicks of the green button and you are out of debit.

Update: Found one of the early-rollout stores and confirmed that it works.

Last edited by noassumptions; Oct 16, 2018 at 11:03 pm
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Old Oct 25, 2018, 1:56 pm
  #51  
 
Join Date: Feb 2016
Posts: 84
Hey guys,

A while ago I read about people doing the GoC -> 529 plans and then withdrawing the money to a bank account. Is this still possible? Any fees besides the GoC purchase fee? Any tax implications?

Thanks!
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Old Oct 25, 2018, 2:22 pm
  #52  
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Originally Posted by tronsom
Hey guys,

A while ago I read about people doing the GoC -> 529 plans and then withdrawing the money to a bank account. Is this still possible? Any fees besides the GoC purchase fee? Any tax implications?

Thanks!
for a little while - until you're shut down and blacklisted. No. Yes.
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Old Oct 25, 2018, 2:59 pm
  #53  
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Originally Posted by tronsom
Hey guys,

A while ago I read about people doing the GoC -> 529 plans and then withdrawing the money to a bank account. Is this still possible? Any fees besides the GoC purchase fee? Any tax implications?

Thanks!
Originally Posted by beast7276
for a little while - until you're shut down and blacklisted. No. Yes.
If you get college kid, sure you can. You can put in $5,000 and take it out to pay college tuition. But it does not pay if you do not use it to pay college expenses.
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Old Oct 25, 2018, 3:07 pm
  #54  
 
Join Date: Feb 2016
Posts: 84
Originally Posted by beast7276
for a little while - until you're shut down and blacklisted. No. Yes.
Thanks. Even if I don't have any gains?
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Old Oct 25, 2018, 8:16 pm
  #55  
 
Join Date: Apr 2009
Posts: 73
Originally Posted by tronsom
Thanks. Even if I don't have any gains?
529s grow tax free as long as funds are used for qualifying college expenses. The tax implications are if you do not use for college - 10 or 20% penalty.
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Old Oct 25, 2018, 8:59 pm
  #56  
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GofC is very good if you get a college kid. If the tuition is $30,000, you can cycle that amount via GofC funding. With 1% fee, you can accumulate miles or points with little work. Much better if you buy it at grocery stores etc.

It is not the traditional MS. You can't cycle the $$ if you do not get college age kids. There is tax penalty if you take the money out not for college expenses.
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Old Oct 29, 2018, 5:17 pm
  #57  
inY
 
Join Date: Jan 2011
Posts: 368
Originally Posted by tronsom
Thanks. Even if I don't have any gains?
Originally Posted by makelab
529s grow tax free as long as funds are used for qualifying college expenses. The tax implications are if you do not use for college - 10 or 20% penalty.
Internet travel forms are a bad place to get tax advice. According to just about every source on 529 plans, only earnings are subject to tax and the 10% penalty: https://www.thebalance.com/understan...-rules-4153124 https://www.savingforcollege.com/art...thdrawal-traps https://www.fidelity.com/viewpoints/...e-529-spending . Since you have no gains, there is nothing to be taxed.
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Old Nov 13, 2018, 10:25 pm
  #58  
 
Join Date: Sep 2006
Location: LAX
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GoC options near LA

Drove up to Bakersfield to check things out. SaveMart was no problem and allowed me to do two separate $1K transactions. One FoodMaxx was no problem, but a couple others didn’t want to allow credit card. These are lower-end markets so I can understand the unsual nature of the transaction. It was easier if I only did single $500 so it wouldn’t require manager approval. Overall, cards were readily available and you just have to find a willing clerk or convince them that only the Visa/MC gift cards are cash/debit only. Their systems are not hard-coded to require these be cash/debit.
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Old Nov 23, 2018, 11:00 pm
  #59  
 
Join Date: Jun 2013
Posts: 92
At a B&N was able to buy a $200 GoC card using two partially funded Happy T’s from ODOM. First one autodrained and POS showed the transaction's remaining balance. Cashier asked to see if it was a gc, but then was OK with using it run as credit. Net is at least 2X UR, but that is still nice for education spend.

If you have a card really good for groceries and happen to have GoC $500s locally available, that is of course much better.
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Old Dec 19, 2018, 8:59 am
  #60  
zzm
 
Join Date: Mar 2017
Posts: 34
Originally Posted by yoshapman
Yup, sucks, was so happy to track them down in NYC but the $200 kills it.
Did anyone in NY/Tristate Area end up finding the $500 GoC cards?
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