Author Topic: VISA pre-paid gift cards--one of the biggest ripoffs ever  (Read 4454 times)

ObviouslyNotAGolfer

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VISA pre-paid gift cards--one of the biggest ripoffs ever
« on: November 29, 2018, 10:58:18 PM »
Of course, I've known this ever since they first appeared--pay Visa $4.95 to give someone else $50???  GTFO!! I would never buy one in a zillion years.

Anyway, my mother-in-law got a shite ton of these when she retired a few years ago (the best I can hope from my co-workers is the absence of a knife in my back), and she has been handing them out like candy--mostly to my wife. Not surprisingly, NO ONE accepts these. Years ago my wife told me that GooglePlay took them, but even they refuse them now apparently.

Can you imagine how filthy rich(er) Visa is becoming from the hordes of suckers with their prepaid gift cards, who just give up??? All the people who have balances of various amounts that never get used??? All the polite gift recipients who don't want to hurt a generous gift givers feelings by telling them that these cards are worthless!!?? All the additional solid gold fixtures for private jets and mega yachts Visa exec's are buying themselves?? (And don't complain about it, otherwise you're a filthy commie!)

Who accepts these? Any ideas on what to do with them?
« Last Edit: November 29, 2018, 11:14:34 PM by ObviouslyNotAGolfer »

soccerluvof4

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #1 on: November 30, 2018, 03:19:46 AM »
I'm not sure by what you mean "No One accepts these" Everyone accepts them its just a credit card basically.  Never have had a problem anywhere with one. No i dont like the fees but there are times you can avoid them as well but should be working just like a credit card. And people that leave balances are just foolish because you can split credit cards. Burn up the value on the card and use a couple bucks cash or use another credit for the balance. But yea there making money with the fee's. Not sure about balances though because there money is made on the transaction use and if you buy 100$ card thats the value to them plus the fee if you paid to buy. The consumer loses if they dont spend it. There is a time and place for them so I admittedly use them but rarely. So i guess that makes me stupid! lol

Cranky

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #2 on: November 30, 2018, 05:27:35 AM »
Everyone accepts them, though you have to do something complicated if you want to use them online (by complicated, I mean something that I've never bothered to do...) And you do need to know the balance on them to use them in most stores, but I've never had any problems.

I get a lot of rebates on these now, and it's easier to spend than having to haul a check to the bank to deposit.

BudgetSlasher

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #3 on: November 30, 2018, 05:38:59 AM »
No one accepts them?

For a while my parents liked to give them as holiday gifts and I have used them online (both small stores and online giants), at the grocery store, at the big box hardware store, and many other places as day-to-day spending.

The marketing of the ones hey used to give was vanilla visa. Perhaps the ones you are dealing with are gift cards that are administered by visa but are not a visa? The local mall where I grew up had a program like that, credit cards looking items by either visa or amex, but you could only use them at certain locations (basically the mall).

Luckily my parents have wised up and either give a check or just ask directly what I would spend it on.

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #4 on: November 30, 2018, 05:53:27 AM »
Are you not in the USA?

I've used them at the grocery store, gas pump, Costco, department stores - basically anywhere you would use a Visa. Typically you can even do a "split payment" and use multiple cards on the same purchase. Fortunately, my local grocery store's system does this automatically - it drains the GC, then prompts you for the additional amount due.

I'm a red panda

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #5 on: November 30, 2018, 06:23:34 AM »
I've never had a problem getting them accepted. The main issue is you have to know the balance.

I usually just immediately use them to buy an amazon giftcard.

I agree though, paying a fee to get a GC is absurd.

Livingthedream55

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #6 on: November 30, 2018, 07:57:04 AM »
Yes I've received a couple of $50 ones as gifts - I immediately buy an Amazon gift card or go buy groceries with it.  Would never buy one.

Mississippi Mudstache

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #7 on: November 30, 2018, 08:03:23 AM »
Only reason to buy one, ever, is in certain situations for credit card churning when you need to meet a minimum spend, or if you get bonus points through some other rewards program. I remember a few years ago, there were people making bank by buying up Visa gift cards to earn sign-on bonuses with credit cards and earning back the gift card fees on gas miles. Most grocery stores no longer give the gas rewards on gift cards, though.

In any case, I've bought them a couple times to hit a minimum spend before a deadline, but that's it. Never had trouble spending them, but they're a pain to keep up with.

DS

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #8 on: November 30, 2018, 08:14:20 AM »
Same for buying another gift card with them immediately. They are the worst when there is 3.67 left on them and you need to know that exact amount in order to finish using it.

One time as a cashier I used one that someone gave me that said $50 and somehow it charged more than that to the card. Never figured out what happened. Manager let it slide.

shunkman

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #9 on: November 30, 2018, 08:27:44 AM »
I hate gift cards for lots of reasons. I tried to use a gifted Applebee's gift card recently and I was told that the card was not activated.  I would never eat at Applebee's except that I was given the card. Another time recently while using a brew pub gift card I was told that the gift card could not be used for the tip? Cash is king!

Sugaree

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #10 on: November 30, 2018, 08:35:00 AM »
We've never had a problem using them.  DH uses the fuel version to help him budget his gas money.  Yeah, there's a fee, albeit a slightly smaller one than the regular Visa gift cards.  But it's better than him blowing all his money and not having the gas to get to work.  And as long as he can call about his balance, it's pretty easy to put exactly that much gas in the car.  As far as the balance on a regular card, if I've got less than about $5 then I'll just use the remainder to buy an Amazon gift card in that amount. 

Car Jack

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #11 on: November 30, 2018, 08:41:42 AM »
VGCs are a staple of manufactured spending.  The activation fee is $5.95 for a $500 card.  I'll be buying them this week at Stop & Shop because it's a promo week where I get 2X gas points for card buying.  So VGC activations become a somewhat "who cares?".  Example:

I buy a $500 VGC:  $505.95
2% back from credit card: -$10.12
Gas discount at shell with gas points (add 5 cents from shell): -1.05/gallon X 20 gallons, -21.00
Bring gc to wall mart to convert into money order: (cost reflected below)
Cash in at bank: -$499.12
Total it all up: -$24.29

So I end up with $24.29.  I'd usually do this with 2 gift cards so it gets more complicated, because the limit is $1.50 off a gallon (the rest of the points are saved till next time) but the MO cost is cut in half per $500. 


I'm a red panda

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #12 on: November 30, 2018, 08:53:24 AM »
I hate gift cards for lots of reasons. I tried to use a gifted Applebee's gift card recently and I was told that the card was not activated.  I would never eat at Applebee's except that I was given the card. Another time recently while using a brew pub gift card I was told that the gift card could not be used for the tip? Cash is king!

There are a number of websites where you can sell them for cash.  If it wasn't your money in the first place, might be worth it.

Mississippi Mudstache

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #13 on: November 30, 2018, 09:07:58 AM »
VGCs are a staple of manufactured spending.  The activation fee is $5.95 for a $500 card.  I'll be buying them this week at Stop & Shop because it's a promo week where I get 2X gas points for card buying.  So VGC activations become a somewhat "who cares?".  Example:

I buy a $500 VGC:  $505.95
2% back from credit card: -$10.12
Gas discount at shell with gas points (add 5 cents from shell): -1.05/gallon X 20 gallons, -21.00
Bring gc to wall mart to convert into money order: (cost reflected below)
Cash in at bank: -$499.12
Total it all up: -$24.29

So I end up with $24.29.  I'd usually do this with 2 gift cards so it gets more complicated, because the limit is $1.50 off a gallon (the rest of the points are saved till next time) but the MO cost is cut in half per $500.

Thanks for the specific numbers. I mostly stuck to buying gold coins below spot price with 10% back on eBay bucks + 1% back eBates + 1-2% back on the credit card. It was a sweet gig that netted me about 10 grand one year, but I eventually quit to clean up my credit report in preparation for taking out a mortgage. Need to start back up again.

SwitchActiveDWG

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #14 on: November 30, 2018, 09:15:17 AM »
I use them to reload my Amazon gift card balance for the full value as soon as I receive them.

Free Spirit

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #15 on: November 30, 2018, 09:25:09 AM »
I remember years ago (10+) I bought one at a CVS that had to be activated online or over the phone (can't remember). The package didn't even contain the card, just instructions on how to obtain the card. You called and then they would mail the actual card to your address. Long story short, it never arrived and I was out $50. I tried calling customer service and they said it was "in the mail". I was young and naïve so I never escalated the problem but I did vow to never use a visa gift card ever again. Oh yeah, AND it had a monthly fee! So, every month that it didn't arrive, $5 was taken off the balance. LOL what a scam.

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #16 on: November 30, 2018, 09:51:28 AM »
Same for buying another gift card with them immediately. They are the worst when there is 3.67 left on them and you need to know that exact amount in order to finish using it.

One time as a cashier I used one that someone gave me that said $50 and somehow it charged more than that to the card. Never figured out what happened. Manager let it slide.

If you use gift cards regularly, figure out which merchants (like my local grocery store) will auto-drain the GC, so you don't need to know how much as left.

On the second item - some GC are reloadable, including above the original value.

shunkman

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #17 on: November 30, 2018, 09:52:01 AM »
I use them to reload my Amazon gift card balance for the full value as soon as I receive them.


I have a $100 AMEX GC that I would like to convert to an Amazon GC. I cannot seem to figure out how to do this. Any help would be appreciated.

I'm a red panda

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #18 on: November 30, 2018, 10:07:10 AM »
I use them to reload my Amazon gift card balance for the full value as soon as I receive them.


I have a $100 AMEX GC that I would like to convert to an Amazon GC. I cannot seem to figure out how to do this. Any help would be appreciated.

Go to amazon.com
In the tool bar click "gift cards"
Then click "reload your balance".

This link might work: https://www.amazon.com/asv/reload/order?_encoding=UTF8&ref_=asv_gclp_bwd_pd

ixtap

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #19 on: November 30, 2018, 10:12:24 AM »
I use them to reload my Amazon gift card balance for the full value as soon as I receive them.


I have a $100 AMEX GC that I would like to convert to an Amazon GC. I cannot seem to figure out how to do this. Any help would be appreciated.

DH gets AMEX GC from work every once in a while. I never have been able to make them work online.

mathlete

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #20 on: November 30, 2018, 10:16:12 AM »
I bought one last Christmas Day for struggling family member. It's a convenience fee. How far away was the closest fee-free ATM? More than $4.95 worth of inconvenience, as it turns out.

OurTown

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #21 on: November 30, 2018, 10:30:02 AM »
I seem to remember some kerfuffle where we tried to use it at a restaurant but you had to pay the tip separately?  Then I think there was another time where there was some change left on one of the cards but there was also a minimum purchase amount, so I permanently lost 85 cents.

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #22 on: November 30, 2018, 11:03:13 AM »
I seem to remember some kerfuffle where we tried to use it at a restaurant but you had to pay the tip separately?  Then I think there was another time where there was some change left on one of the cards but there was also a minimum purchase amount, so I permanently lost 85 cents.

In Texas, if there is less than $2.50 on the GC, stores are required to pay it out to you in cash upon request. Some limitations apply.

SwitchActiveDWG

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #23 on: December 01, 2018, 06:39:12 AM »
I use them to reload my Amazon gift card balance for the full value as soon as I receive them.


I have a $100 AMEX GC that I would like to convert to an Amazon GC. I cannot seem to figure out how to do this. Any help would be appreciated.

Go to amazon.com
In the tool bar click "gift cards"
Then click "reload your balance".

This link might work: https://www.amazon.com/asv/reload/order?_encoding=UTF8&ref_=asv_gclp_bwd_pd

In addition, make sure you’ve added the Amex GC as a payment method to your amazon account. You will likely need to set the billing address as your address for the gift card which you can do by calling or sometimes by the online interface when you activate it.

If you google adding cc gift cards to amazon you can find specific instructions.

soccerluvof4

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #24 on: December 01, 2018, 06:49:50 AM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #25 on: December 01, 2018, 07:14:55 AM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

When I was growing up, the solution to that problem was cash in the Christmas card. No purchase fees, accepted almost anywhere.

remizidae

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #26 on: December 01, 2018, 01:03:52 PM »
Whenever I get money on a gift card, I go straight to the bank and have them pull the funds from the card and deposit it into my checking account. They treat it as a cash advance. I can do it without a fee, but YMMV. I think it'd be worth paying a small fee not to have to deal with the annoyance.

blackomen

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #27 on: December 01, 2018, 05:46:09 PM »
I used to use them to meet the minimum spending requirements on new credit cards but I usually bought the $500 denominations for $4.95.  It was gravy until Bluebird banned me from transferring the balances from these gift cards, and I used to use Bluebird to write checks to pay for my mortgage and other expenses that could only be paid via check.

I'm a red panda

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #28 on: December 01, 2018, 07:06:20 PM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

When I was growing up, the solution to that problem was cash in the Christmas card. No purchase fees, accepted almost anywhere.
A lot of people don't feel comfortable mailing large quantities of cash.

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #29 on: December 02, 2018, 07:00:42 AM »
Whenever I get money on a gift card, I go straight to the bank and have them pull the funds from the card and deposit it into my checking account. They treat it as a cash advance. I can do it without a fee, but YMMV. I think it'd be worth paying a small fee not to have to deal with the annoyance.

I was not aware this could be done. Thanks!

TomTX

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #30 on: December 02, 2018, 07:03:54 AM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

When I was growing up, the solution to that problem was cash in the Christmas card. No purchase fees, accepted almost anywhere.
A lot of people don't feel comfortable mailing large quantities of cash.

I don't see how mailing a $100 gift card is any more secure than mailing a $100 bill.  Possibly less secure, as it's typically easy to determine if an envelope is likely to have a (gift card/credit card) by gentle bending without opening the envelope.

Picked up that technique due to CC churning btw - quickly determining which envelope to open in my stack of mail.

shunkman

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #31 on: December 02, 2018, 07:30:05 AM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

When I was growing up, the solution to that problem was cash in the Christmas card. No purchase fees, accepted almost anywhere.
A lot of people don't feel comfortable mailing large quantities of cash.

I don't see how mailing a $100 gift card is any more secure than mailing a $100 bill.  Possibly less secure, as it's typically easy to determine if an envelope is likely to have a (gift card/credit card) by gentle bending without opening the envelope.

Picked up that technique due to CC churning btw - quickly determining which envelope to open in my stack of mail.

One method that the US Postal Service uses to identify employee mail theft is to plant gift cards in envelopes and then when the employee uses the stolen card at Walmart, Target, etc. they have video evidence of the transaction.

Rural

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #32 on: December 02, 2018, 06:33:45 PM »
The fees are stupid, and are a good reason never to buy them (unless churning for a higher payoff, I suppose), but they are good anywhere that accepts credit cards.

momcpa

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #33 on: December 02, 2018, 06:57:15 PM »
A major local grocery chain is offering $100 cards with a 10% savings.  So if you have to pay $4.95 for the convenience, you still end up with approx $5 "free".   The 10% discount only applied up to a $100 purchase limit.  So in effect a 5% savings.   The offer is only good for 4 - 5 days this week.  We went ahead and bought 4 - $100 cards and will use them when dining out over the next 5 or 6 months.  It was supposed to be 'one per customer'.  The service desk lady said both my husband and I could each get 2 as long as we used different methods of payments, so the computer didn't go crazy. 

So to us it's like a prepaid discounted restaurant gift card that can be used at any restaurant.

Milizard

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #34 on: December 02, 2018, 07:00:25 PM »
Mary FIL sent my kids giftcards in Christmas cards last year.  The sorting machines tore the envelopes, and one of the giftcards fell out.  I received everything from the mailman, along with an apology and a suggestion to let FIL know to use a bigger envelope next year.  Very thankful for their honesty, but yeah, very easy to lose a GC in the mail.

soccerluvof4

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Re: VISA pre-paid gift cards--one of the biggest ripoffs ever
« Reply #35 on: December 03, 2018, 03:23:17 AM »
Another thing, I would rather give someone a Visa Gift card that might cost me a couple bucks and they use it as they wish then buy them something that they might never wear, use or toss. There is some value in that imo

When I was growing up, the solution to that problem was cash in the Christmas card. No purchase fees, accepted almost anywhere.




Yea that's how it was when I was growing up. But that also was usually a smaller amount then I would buy a Visa card for  Like i said in my previous post I don't mind spending a few buck for a card. Think the cash would get used stupidly as opposed to the card but maybe i'm wrong in thinking that. Also Like i said to do a couple times a year if that is not a big enough issue for me to worry about.