Author Topic: Credit Card Churning (CCC) - low cost reloadable gift cards?  (Read 2935 times)

Mother Fussbudget

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Credit Card Churning (CCC) - low cost reloadable gift cards?
« on: October 14, 2014, 11:42:03 AM »
My apartment rent can be paid via bank account, Visa or Mastercard. 
Goal: generate monthly spend on my Amex card by buying gift cards to pay the rent. 

My credit union offers non-reloadable gift cards up to $1000 @ $2.50 each.
Is this a good deal?  Anyone know of cheaper re-loadable gift cards I could use to do the same thing? 
Rent=$1600/month = $1605/month after gift card fees. 

Is my thinking right on this, or am I missing a low-cost alternative that EVERYONE (except me) knows about?

trailrated

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #1 on: October 14, 2014, 11:49:09 AM »
Couldn't you just get a Visa or Mastercard that gives you points and use that to pay rent directly rather than wasting the $2.50 for each non-reloadable card you would buy otherwise?

solon

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #2 on: October 14, 2014, 12:23:38 PM »
That's what I was thinking too. Why not just pay your rent with your Visa?

forummm

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #3 on: October 14, 2014, 12:38:03 PM »
My Visa gives 1.25% ($20 for your rent). So if you have one of those Amex cards I've seen written about here that gives 6% at grocery stores, then it seems like a good idea to use that card to buy gift cards at grocery stores until you get to the cap on the 6% ($6k?).

Another idea is to get cheaper housing. You'll save way more that way.

Bob W

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #4 on: October 14, 2014, 12:43:03 PM »
If my rent was $1,600 a month I would be seeking alternatives.   I know it is high in Seattle but there has got to be something cheaper than that?   A roommate?  Renting a room with kitchen use options?   

Damn,  I'm spoiled on living in the Ozarks!

$200k

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #5 on: October 14, 2014, 12:57:14 PM »
I assume OP cannot pay rent directly with a visa or mastercard credit card, hence the reason for purchasing gift cards at the local credit union.

OP, if you are able to purchase gift cards at the local with a credit card, then yes, $2.50 per 1000 points is very, very, excellent.  You might want to do a test run to ensure that the purchase will not show up as a cash advance. 

Mother Fussbudget

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #6 on: October 14, 2014, 01:48:47 PM »
I *can* pay with Visa/Mastercard, but have an Amex I'm trying to force spending thru in the short-term, and rent is my major (only big) monthly expense.  Yes, rent is high here=HCOL, but I'm paying less than most in a nicer crime-free area.

Mother Fussbudget

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #7 on: October 14, 2014, 05:27:04 PM »
UPDATE:  bad news - the credit union can only fund gift cards from an account balance.  The only way to use the Amex to put into a gift card would be to take a cash advance against it. :-( 

Another still-born idea...

This_Is_My_Username

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« Reply #8 on: October 14, 2014, 06:46:09 PM »
get a gift-card from a different credit union or bank ?

daverobev

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Re: Credit Card Churning (CCC) - low cost reloadable gift cards?
« Reply #9 on: October 17, 2014, 04:58:48 PM »
Not sure what Amex, but why not get a Citi DoubleCash - 2% on everything.