Aug 21, 2019, 12:38 pm
Last edit by: Klemhuzzah
Signing up to buy $1000 visa/mc gift cards
You can buy the $1000 cards on Simon's volume site. Their regular site only sells $500 cards.
If you're new, or haven't bought anything in a year, you need to register at https://www.simon.com/volume/register-consumer
As part of the registration process, you will have to go to a brick and mortar mall and buy at least $3000 in cards in person, as well as filling out some paperwork while there. After that, you can do everything online.
As of Nov 2020, Simon Mall Gift cards will only work for $99/swipe for money services at Walmart and many grocery chains.
$1000 gift cards are available indefinitely.
2020 Promotions
Ongoing: FREEGROUND - Free Ground Shipping on any order size. Limited to 5 orders per customer. Expires December 31, 2020 (subject to change).
5/15-6/17: MDHOL20 - 20% off Visa Giftcard Purchase Fees + Free Ground Shipping on orders of 9 more cards
5/15/5/31: MAYGROUND - Free UPS Ground shipping on orders of 7 or more cards
5/15-6/31: MAY20VG10 - 10% off purchase fees on Visa Giftcards
6/29-7/20: JUL4HOL20 - 20% off Visa Giftcard Purchase Fees + Free Ground Shipping on orders of 5 or more cards. If you select a shipping other than Ground - the code will still take 20% off the purchase fees. Limited to 10 orders per customer.
8/11-8/31: AUG20PR - 15% off ALL fees (excl. shipping fees) on orders of 5 or more cards. Limited to 10 orders per customer (Originally expired on 8/23; on 8/24 promo was extended through 8/31)
10/12-10/14: FSOCT20 - 30% off all purchase fees on Visas and Mastercards.
10/26-10/31 - FS20SCARY - 35% off all purchase fees
11/1-11/30 - HOL20MC25 - 25% off all purchase fees on MasterCard / HOL20VG25 - 25% off all purchase fees on Visa / HOL20AG50 50% off all purchase fees on American Express
11/6-11/8 - FS20THANKS - 35% off all purchase fees
11/16-11/18 - FS20SAVINGS - 35% off all purchase fees
You can buy the $1000 cards on Simon's volume site. Their regular site only sells $500 cards.
If you're new, or haven't bought anything in a year, you need to register at https://www.simon.com/volume/register-consumer
As part of the registration process, you will have to go to a brick and mortar mall and buy at least $3000 in cards in person, as well as filling out some paperwork while there. After that, you can do everything online.
As of Nov 2020, Simon Mall Gift cards will only work for $99/swipe for money services at Walmart and many grocery chains.
$1000 gift cards are available indefinitely.
2020 Promotions
Ongoing: FREEGROUND - Free Ground Shipping on any order size. Limited to 5 orders per customer. Expires December 31, 2020 (subject to change).
5/15-6/17: MDHOL20 - 20% off Visa Giftcard Purchase Fees + Free Ground Shipping on orders of 9 more cards
5/15/5/31: MAYGROUND - Free UPS Ground shipping on orders of 7 or more cards
5/15-6/31: MAY20VG10 - 10% off purchase fees on Visa Giftcards
6/29-7/20: JUL4HOL20 - 20% off Visa Giftcard Purchase Fees + Free Ground Shipping on orders of 5 or more cards. If you select a shipping other than Ground - the code will still take 20% off the purchase fees. Limited to 10 orders per customer.
8/11-8/31: AUG20PR - 15% off ALL fees (excl. shipping fees) on orders of 5 or more cards. Limited to 10 orders per customer (Originally expired on 8/23; on 8/24 promo was extended through 8/31)
10/12-10/14: FSOCT20 - 30% off all purchase fees on Visas and Mastercards.
10/26-10/31 - FS20SCARY - 35% off all purchase fees
11/1-11/30 - HOL20MC25 - 25% off all purchase fees on MasterCard / HOL20VG25 - 25% off all purchase fees on Visa / HOL20AG50 50% off all purchase fees on American Express
11/6-11/8 - FS20THANKS - 35% off all purchase fees
11/16-11/18 - FS20SAVINGS - 35% off all purchase fees
Simon Mall Gift Cards (2019-2023)
Aug 31, 2019, 10:44 am
#391
Join Date: Nov 2008
Posts: 47
Spaghetti against the wall, but: is there a business idea here?
1. X, who lives in Simon-deprived area, adds Y as AU on X's credit card.
2. Y uses AU card to purchase GCs at his local Simon property, and overnights to X for liquidation.
3. X compensates Y for his/her services.
Obviously, X would have to trust Y not to mis-use the AU card.
1. X, who lives in Simon-deprived area, adds Y as AU on X's credit card.
2. Y uses AU card to purchase GCs at his local Simon property, and overnights to X for liquidation.
3. X compensates Y for his/her services.
Obviously, X would have to trust Y not to mis-use the AU card.
Aug 31, 2019, 11:39 am
#392
Join Date: Oct 2013
Posts: 1,322
I would be up for buying cards. I live ~15miles from 2 Simon malls but can't liquidate more than like 2 cards a month lol. One thing I'd be worried about is the Simon ppl taking down my DL (and SS#?) w/every large purchase. Triggering a random tax audit would not be worth it.
* At the 10k level, as noted by Chelski below.
Last edited by tuphat; Sep 1, 2019 at 8:49 am
Aug 31, 2019, 11:54 am
#393
Join Date: Oct 2013
Posts: 1,322
A lot of variables there.
Are the points earned worth enough to you once the cost of overnight shipping and compensation for person Y is factored in? And I’d suggest a Priority Mail flat rate envelope for shipping. It’s 2-3 day delivery for $7.35. Overnight is going to be 2-3x that.
Aug 31, 2019, 7:05 pm
#394
Join Date: Feb 2015
Location: atlanta
Posts: 56
would need to have a considerable volume to make this sustainable....my $0.02
Aug 31, 2019, 11:22 pm
#395
Join Date: Jun 2015
Posts: 1,727
Last edited by Chelski; Nov 18, 2019 at 7:25 pm
Sep 1, 2019, 12:50 am
#396
Join Date: Jun 2019
Posts: 104
Back of the envelope with conservative numbers: $10k purchase using a 2% CB card would be $200 gross. Subtract $40 of GC fees and $10 mailing, that leaves $150 before buyer comp and liquidation costs. Maybe I am naive, but I think that the parties could come to some reasonable amount of comp for the buyer, esp. if buyer had very easy access to Simon, time on his/her hands, etc.
If both are true, you should maximize the return by going for the $25k max purchase. Based on your math, which is definitely a little bit conservative, you’d get $390 before buyer comp and liquidation (since you’re only paying one mailing fee). This is assuming that you’d be paying the buyer a flat fee per trip. You’d probably want the buyer to change the pin on each card before mailing. Or text pictures of the cards so you could do so yourself.
Sep 1, 2019, 1:29 am
#397
Join Date: Dec 2013
Posts: 3,509
I would be up for buying cards. I live ~15miles from 2 Simon malls but can't liquidate more than like 2 cards a month lol. One thing I'd be worried about is the Simon ppl taking down my DL (and SS#?) w/every large purchase. Triggering a random tax audit would not be worth it.
Sep 2, 2019, 8:48 am
#398
Join Date: Mar 2016
Posts: 267
Is anybody using P N C premier traveler CC to buy GCs at Simon?
Sep 2, 2019, 7:11 pm
#400
Join Date: May 2008
Location: PHL (kinda, no airport is really close)
Programs: AA Exp, but not sure for how long. Enterprise Platinum woo-hoo!
Posts: 4,551
Spaghetti against the wall, but: is there a business idea here?
1. X, who lives in Simon-deprived area, adds Y as AU on X's credit card.
2. Y uses AU card to purchase GCs at his local Simon property, and overnights to X for liquidation.
3. X compensates Y for his/her services.
Obviously, X would have to trust Y not to mis-use the AU card.
1. X, who lives in Simon-deprived area, adds Y as AU on X's credit card.
2. Y uses AU card to purchase GCs at his local Simon property, and overnights to X for liquidation.
3. X compensates Y for his/her services.
Obviously, X would have to trust Y not to mis-use the AU card.
I've worked through the math, and buying 3 cards at a time (hence no shipping) from giftcardmall.com via Rakuten with the extra Rakuten 1% is almost as profitable as buying $1K at a SM. In my analysis I count the 1% from Rakuten as 1.4% because I assume it's taken in Amex MR points, which I value at 1.4 cents.
Sep 3, 2019, 10:36 am
#402
Join Date: Aug 2019
Posts: 44
It's hard for me to imagine trusting someone enough to let them charge $25K to my card.
I've worked through the math, and buying 3 cards at a time (hence no shipping) from giftcardmall.com via Rakuten with the extra Rakuten 1% is almost as profitable as buying $1K at a SM. In my analysis I count the 1% from Rakuten as 1.4% because I assume it's taken in Amex MR points, which I value at 1.4 cents.
I've worked through the math, and buying 3 cards at a time (hence no shipping) from giftcardmall.com via Rakuten with the extra Rakuten 1% is almost as profitable as buying $1K at a SM. In my analysis I count the 1% from Rakuten as 1.4% because I assume it's taken in Amex MR points, which I value at 1.4 cents.
Sep 3, 2019, 11:11 am
#403
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,677
Wouldn't GCM be considerably cheaper after the 1% rebate even ignoring the MR point premium? $17.85 in fees less $15 rebate = $2.85 for $1,500 vs $3.95 for $1,000? Liquidation is faster/easier with larger cards, but the availability of $500 cards for <$1 means means I wouldn't be willing to pay a premium to obtain $1k cards above the standard Simon fee, even ignoring any additional risks.
Sep 3, 2019, 11:36 am
#404
Join Date: Aug 2019
Posts: 44
Correct, I'm just trying to figure out the "almost as profitable" piece of his analysis to confirm I'm not missing something. Ignoring the volume issue it seems like GCM gives you a higher rate of return but considering it then SM is a clear winner.
Last edited by Burton Codh; Sep 3, 2019 at 11:41 am
Sep 3, 2019, 11:42 am
#405
Join Date: Jun 2019
Posts: 104
GCM has monthly limits. If you’re hitting those limits, being able to purchase $25k in a day is very useful. Also, the $25k is available to liquidate immediately. No waiting for processing or mailing. Is the margin lower on Simon? Yes, but if you’re doing enough volume where you’re buying $10-25k at a time, Simon is a damn good option. It’s about volume at that point. If you’re buying $1500 at a time, 3x$500 from GCM is better for you.