Chase is Temporarily Waiving Fees 4 Visa Gift Cards Ordered Online: free manufactured spending.

Discussion in 'General Discussion | Credit Cards' started by thepointstraveler, Apr 8, 2013.  |  Print Topic

  1. thepointstraveler

    thepointstraveler Silver Member

    I stumbled on this last Friday while I was looking into options to buy Visa or MasterCard gift cards now that many of them have the option of getting a PIN. Having a PIN makes them easy to liquidate via loading Bluebird at Wal-Mart or buying money orders. A word of caution though, start small as some have reported not being able to run them as debit and thus unable to load their Bluebird’s.

    Anyway, I ran across something interesting on the gift card portion of Chase’s website. For some reason they are temporarily unable to sell gift cards at their branches and as a result they have decided to offer them for no fee when ordered online!

    This is a great option for meeting minimum spending or for earning some extra miles/points! I bought 1 for $100 on Friday using my Ink Plus card to ensure that it would not be charged as a cash advance. The charge posted today as a purchase, so no worries on cash advance fee’s!!

    Key Information

    1. PIN’s are NOT available on these gift cards. According to the terms listed online, these cards do not have the option of getting a PIN. So do not buy to many thinking you will easily liquidate them via Bluebird, money orders, or cash back on debit purchases. I am hoping the terms just haven’t been updated, but I will let you know for sure when my cards arrive (I ordered more today)
    UPDATE: The Terms & Conditions have been updated since Friday. These cards now offer a PIN!!!

    2. You can only buy them with Chase credit cards. The site states it is only available to current Chase customers and that is validated via charging it to a Chase credit card. I tried running a non-Chase card just to see, but no dice.

    3. You can order multiple cards w/ values up to $500. The site does not give you the option to enter the quantity on your purchase. But after you fill out the info for the first card, just hit “continue shopping” and you will be able to add another card, seemingly as many as you want. DO NOT order too many as you may risk raising red flags and having a report filed.
    Again, since you more than likely will not be able to get a PIN for these, do not get carried away and get stuck not being able to cash-out in time to payoff your balances.
    To order the cards just go to Chase’s gift card purchase site.
  2. kyunbit
    • Original Member

    kyunbit Silver Member

    I am not seeing the benefit in purchasing these
    LETTERBOY, daninstl, NYBanker and 2 others like this.
  3. NYBanker
    • Original Member

    NYBanker Gold Member

    Valid point.

    The only potentials I can see would be to meet minimum spend on a Chase card (at no cost) or to roll the dice on a PIN being added.

    I don't understand the subtleties of which prepaid cards require PINs versus do not. Having read the limited news articles on the topic, it would seem this card should have a PIN feature (but I am not definitive).
    GoodBoy likes this.
  4. thepointstraveler

    thepointstraveler Silver Member

    Like I said, the benefit is not necessarily for everyone. But for those who have a minimum to meet on a Chase card, or who would otherwise move some spending forward. It is a way to get some spend without paying the usual gift card fee's.

    UPDATE: The Terms & Conditions have been updated since Friday. These cards now offer a PIN which you can set when you call in the 800 number on the card.
    GoodBoy, Muerl and iolaire like this.
  5. iolaire
    • Original Member

    iolaire Gold Member

    Since this is a Visa debit card can we pay our taxes with it with low to no fees? I'm not really intrested in paying 1.x% to pay my taxes with a card but at no cost or say $5 per payment I would be....

    Per this it looks like $3.95?
    I'm I thinking right?

    Also will I risk my chase accounts should I order $7k of these?
    weevinweaver likes this.
  6. rharrigill
    • Original Member

    rharrigill Silver Member

    Has anyone bought these before and received the points/miles from the spending?
  7. Brit
    • Original Member

    Brit Gold Member

    So I could use my Hyatt visa card from Chase to purchase these pre-paid cards to meet the 3k spending threshold for 5k bonush hyatt points????

    Not that I would need to buy $3k worth as I am already well on the way to satisfying the 3k spend, but a $500 card would do nicely. Then I could use that $500 card to make other purchases.
  8. schnitzel
    • Original Member

    schnitzel Gold Member

    Limit of $500 per card makes these a bit impractical to use for taxes.

    Also, FWIW, I don't think you've ever needed a PIN to pay taxes, so no change on that front. You just need a debit card that the sites recognize as such.
  9. boondr

    boondr Gold Member

    I am somewhat leery of this as it seems Chase's gift gard department is using this as a method to liquidate their remaining no-PIN gift cards to expedite compliance with the new Fed rule. I am afraid the CC fraud detection and suspicious activity departments may see this as risky behavior and in a classic left hand not knowing what the right hand is doing, shut down accounts. The manufactured spend loop is too small with the requirement that you use a Chase card. No thanks
    MX, weevinweaver, GoodBoy and 5 others like this.
  10. Lantean

    Lantean Silver Member

    hmmm... so the $4.95 shipping fee is waived... but what about the card itself, does it have no fees associated with it at all? thank you.
  11. malikguy

    malikguy Silver Member

    Expiration Date: Funds can be used through the "Good Thru" date stated on the front of the Gift Card, which will be at least 5 years from the date of purchase.

    Card Fees:
    Purchase Fee Including Shipping & Handling:
    • $4.95 Per card with Standard shipping & handling
    • Express shipping additional $15.95 (2-3 business days)
    • Inactivity Fee: $2.50 per month will be deducted from the balance after each 12 month period of inactivity
    • Card Replacement Fee: $12.00
    Card Cancellation Fee: $12.00
  12. daninstl

    daninstl Gold Member

    Seems like a good deal but I still wonder if they will be considered "spend" by Chase. I guess I don't trust credit card companies, go figure.
    MX likes this.
  13. iolaire
    • Original Member

    iolaire Gold Member

    Yes, I thought about using this for my taxes but don't want to risk my UR points etc...
    daninstl likes this.
  14. NYBanker
    • Original Member

    NYBanker Gold Member

    I've been thinking more about this. Be careful. The opportunity cost of a chase shutdown is significant.
    weevinweaver, LETTERBOY and boondr like this.
  15. Lantean

    Lantean Silver Member

    but why would Chase offer it if they don't want people to use it??? :confused:
  16. misterbwong

    misterbwong Silver Member

    Has anyone actually received one of these cards and used it with the PIN functionality?
  17. HaveMilesWillTravel
    • Original Member

    HaveMilesWillTravel Gold Member

    They are probably okay with you buying a $100 card for your favorite niece for graduation. But a dozen $500 cards might not be what they have in mind.
    weevinweaver, mrx900, GoodBoy and 4 others like this.
  18. boondr

    boondr Gold Member

    Chase is too big to assume all departments are on board with and/or aware of all initiatives. I guarantee their risk assessment models flag abuse in much the same way people got FR'd by Amex for their gift card purchases. I will put a $25 wager towards a Kiva loan that we hear about people getting shut down for exploiting this in the next month here or on TOBB.
    LETTERBOY and TravelBear like this.
  19. Lantean

    Lantean Silver Member

    right, but if i get one $500 gift card per each chase credit card that should not raise any flags, right? it'd be a great help with minimum spend...
  20. boondr

    boondr Gold Member

    Honestly I don't know, I don't have any minimum spend right now so I am staying away all together.
  21. TravelBear

    TravelBear Gold Member

    All at once, I wouldn't try it. Spread out I would. How many cards you talking?
    thepointstraveler likes this.
    • Original Member

    LETTERBOY Gold Member

    Chase's intent (whether to liquidate gift card stock or otherwise), is probably not to make it easier for churners to manufacture spending.
  23. guberif

    guberif Silver Member

    Agreed- do you really wanna piss in the well you drink from?
  24. flyaxa

    flyaxa Member

    Please Note:
    "Online sales of Chase Gift Cards are not available to residents of the following states: AR, CT, HI, ME, NH, NJ, RI, VT."
    Was thinking about using a few of these to expedite the SW companion pass but I'm outa luck as per this.
    GoodBoy, rharrigill and TravelBear like this.
  25. boondr

    boondr Gold Member

    I want to clarify, I have zero insider info on this. I just have too good of a track record following my intuion to go against it with something like this. Every fiber of my intuition says this is too good to be true, no fee gift cards, now with no overhead because of PIN access.

    UR points galore!!!!!!!!!

    Good luck folks, I wish you the best, but the 3rd world entrepreneurs do not, because of my wager.

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