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Dear FW Gurus and Members,
I understand this has been discussed many times before here, but by reading them, I couldn't get my answer, so if you could please help me with your advise, I really appreciate that

How can I convert large value of visa / AMEX gift cards to cash?
a legal way which doesn't need luck and a super friendly CSR which does the thing and doesn't call his/her boss

Thank you again

Member Summary
Most Recent Posts

BingBlangBlaow (Jun. 11, 2012 @ 6:01p) |

So I finally tried this today at Chase with both a Parago card and a Bitdefender/Citi card. Neither one worked for a cas... (more)

billrubin (Jul. 03, 2012 @ 1:53p) |

I tried this yesterday and discovered after entering a dozen or so of them that Bitdefender cards from Citi actually ign... (more)

billrubin (Jul. 15, 2012 @ 10:04a) |

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Have you tried the FWF fairy godmother?

Craigslist. Conversion rate may not be $1 to $1 but that is not something you mentioned.

This is the holy grail. Those who know do not speak of it.

6 years, 7 months, 8 days, 9 hours, 1o minutes and 11 seconds.... And you still could not get the answer?

Convert it to an Amazon gift card, buy something with it, then sell on eBay.

Check if the gift card has bill pay capability.

I think what you are referring to is a lesser form of Alchemy

Cash advance at chase bank teller for visa. 0 fee. Will not work for AMEX.

Amazon pay. Wait 30 days for $1 advance authorization to knock off and then "pay" yourself.

Etc. Lots of other ideas out there. Do some research man! Use "search."

musicdef13 said:   Cash advance at chase bank teller for visa. 0 fee.
I've never been able to do this with any rebate visa so far at either Chase, US Bank, or WF (the WF teller and personal bankers just looked at me like I was an idiot and laughed); both just print out a little thing saying that cash advance is not allowed and to call the card issuer number.

Send them to me, I'll give you 50c on the $.

Subscribed.

1. Sock drawer it until the service fee kicks in
2. Let the balance auto deduct
3. Profit

you just successfully converted the entire balance into equal value cash

treasurebeacon said:   1. Sock drawer it until the service fee kicks in
2. Let the balance auto deduct
3. Profit

you just successfully converted the entire balance into equal value cash
Love it! Perfect solution when there's no stipulation that the card holder needs to be the recipient of the proceeds. LOL

MilleniumBuc said:   6 years, 7 months, 8 days, 9 hours, 1o minutes and 11 seconds.... And you still could not get the answer?

hey now, this is his second post in 6 years. Im sure the first one was a winner.

I do a lot of FAR software. The downside is that your funds are sitting in limbo, and you have to keep checking up on them.

musicdef13 said:   Amazon pay. Wait 30 days for $1 advance authorization to knock off and then "pay" yourself.
There are many other threads about this topic and about Amazon Payments. You can avoid the $1 hold if you give the wrong expiration date when you add the credit card. Then fix it before you "deposit" the money from the card and you can use the full amount.

You'll go to a store that you usually shop, buy something using the reward cards. Then, return it and get store credit. Since the store credit never expire, you just keep it and use it in the future. That's what I did.

hoaftis said:   You'll go to a store that you usually shop, buy something using the reward cards. Then, return it and get store credit. Since the store credit never expire, you just keep it and use it in the future. That's what I did.That's one of the most convoluted plans I've heard for using these. Most retailers will want to refund back to the original payment method, which means back to the debit card unless you can get the cashier to intervene. If you want to end up with store credit, just buy a store gift card for the full amount of the card to begin with and be done with it.

bytem3 said:   musicdef13 said:   Cash advance at chase bank teller for visa. 0 fee.
I've never been able to do this with any rebate visa so far at either Chase, US Bank, or WF (the WF teller and personal bankers just looked at me like I was an idiot and laughed); both just print out a little thing saying that cash advance is not allowed and to call the card issuer number.
Ditto. The one time I had a gift card from Verizon which actually DID allow for cashing it out at a teller, it took 20 minutes to accomplish (and they needed a photocopy of my drivers license). I did not try that again.

Thank you all for your replies, specially the members who gave their advice, appreciate that. For those who wanted to have a laugh out of it, that is all right too. some of my thoughts:

1. I don't want to buy another store gift card with these visa/AMEX cards, because I don't get my 6% blue cash preferred on that, or some other of my seasonal 5%.
2. I am waiting for the FAR softwares to come around, but I need it to be coupled with an available coupon at the same time to compensate the tax, and I need a lot of those software with limit of 5 or 10 on rebates to off-load what I have, it takes time.
3. unless I get lucky! it is not possible to cash these cards in a bank. these are not pin-based debit cards, and they are credit cards which you cannot draw cash from them at POS (no cash advance feature). Even cannot buy money order with it. I will still go and ask around.
4. I have asked and unfortunately it doesn't have bill-pay capabilities.
5. I forgot to mention the Amazon payment in my original post, I had just heard about it, will give it a try, I wanted to make sure that it is doable.
6. I can purchase things and sell them elsewhere, but it would take time and effort more than I am looking forward to.
7. won't sell it with a loss too (on craigslist or giftcard trading sites), because I can hold on to them for months and months, just wanted to find a legal quicker way to convert them to cash [the sad part is that I have paid cash for them but cannot easily convert them back]

For those who contributed the jokes, good laugh!, peace! btw, my number of posts just went up by 50%

Al224 said:   1. I don't want to buy another store gift card with these visa/AMEX cards, because I don't get my 6% blue cash preferred on that, or some other of my seasonal 5%.Obviously you lose the credit card rebate but there are clearly places you only get 1.25% rebate on so you would want to use it at those stores. You have to balance getting the Cash Back vs. how much money you lose on CashBack. This is discussed in the other threads you apparently decided did not answer your question appropriately. If you want to get cash, Amazon Payments is really your best choice.

What I often do is just pay my Verizon bill online. Since I get one combined bill with everything on it, I can dump a bunch of cards on the account (I found out last month that the limit is 21 per day). Sadly I lose the 2% I'd get from my credit card but at least I get my cash.

bytem3 said:   musicdef13 said:   Cash advance at chase bank teller for visa. 0 fee.
I've never been able to do this with any rebate visa so far at either Chase, US Bank, or WF (the WF teller and personal bankers just looked at me like I was an idiot and laughed); both just print out a little thing saying that cash advance is not allowed and to call the card issuer number.


My local Chase is super friendly. They know me by sight because the only times they ever see me are to cash out cards or to open a new account for the annual bonus. I prefer using the atm outside. I open my accounts with the same guy every year; in fact, he gives me hints about how to get better bonuses. (Side note: do they get bonuses for hitting new account quotas? Any one know? I've always been curious.) I have never done the mint coins thing to them. They never hassle me about cash advances unless I forget and bring in an AMEX card. Then the teller usually tries to do it anyway, the transaction fails and says "I have no idea why it's not going through, you should call the card issuer, etc... wait, it's probably because it's an AMEX and we can't do AMEX, sorry." I must be really lucky. This is a Wamu turned Chase branch. Great customer service in general!

There are two other branches that are little bit further out of my way. They're original Chase branches. I hate the customer service at both places. Even when I say "Hi, I would like to do a cash advance from this card. It has [exact amount] on it," the tellers don't know what the heck I'm talking about. Besides opening accounts and depositing/withdrawing, they never know what the heck I want from them when I ask for something. I know correlation is not causation, but I try to avoid these branches when I can.

I've never tried to do this at U.S. Bank or WF, but I'll try one day and let you know. I learned about the Chase B/M cash advance from fw 3+ years ago and have been using it whenever I get Visa/MC cards from Staples rebates or test drives ever since, which is about once or twice a month.

Moral of the story: YMMV on cash advance from Chase

musicdef13 said:   
My local Chase is super friendly. They know me by sight because the only times they ever see me are to cash out cards or to open a new account for the annual bonus. I prefer using the atm outside. I open my accounts with the same guy every year; in fact, he gives me hints about how to get better bonuses. (Side note: do they get bonuses for hitting new account quotas? Any one know? I've always been curious.)
Personal Banker at Chase is primarily a sales position. They earns points towards their commissions, called "PVCs", by selling products.

You can learn more by googling for "Chase 1-2-3 drill". Some of the youtube videos that come up are hilarious.

Squareup.com. It will cost you 2.75% but with no hassle.

MisterEd said:   Squareup.com. It will cost you 2.75% but with no hassle.

Just know that you might end up with a 1099 and have to do some explaining on your taxes

lastgaspjr said:   They earns points towards their commissions, called "PVCs", by selling products.
That explains why the banker was so happy to help my wife and daughter set up direct deposit when they opened accounts with the $175 coupon we got for use at a new local branch.

Two shills. Both not speaking a word about fees.

billrubin said:   Amazon Payments is really your best choice.

When using Amazon Payments to send money to myself, should I select payment is for Goods/Services or Cash Advance? Does it matter?

uutxs said:   Two shills. Both not speaking a word about fees.Who are you talking about?

BTW there is now yet ANOTHER thread about this:

Link

billrubin said:   uutxs said:   Two shills. Both not speaking a word about fees.Who are you talking about?

BTW there is now yet ANOTHER thread about this:

Link

The posts I was talking about got deleted. They were by the same shills who posted on the other thread you mention.

uutxs said:   billrubin said:   uutxs said:   Two shills. Both not speaking a word about fees.Who are you talking about?

BTW there is now yet ANOTHER thread about this:

Link

The posts I was talking about got deleted. They were by the same shills who posted on the other thread you mention.


It was this:

john8486 said:
I started using this new site called prepaid2cash - they transfer the balance of my prepaid card to my bank account it was super easy. Now when I get these cards, I can get the cash off them fast and throw them away - <link to shill's site removed>

musicdef13 said:   Cash advance at chase bank teller for visa. 0 fee. Will not work for AMEX.
So I finally tried this today at Chase with both a Parago card and a Bitdefender/Citi card. Neither one worked for a cash advance, they both beeped.

What is the secret to getting it to work?

billrubin said:   musicdef13 said:   Amazon pay. Wait 30 days for $1 advance authorization to knock off and then "pay" yourself.
There are many other threads about this topic and about Amazon Payments. You can avoid the $1 hold if you give the wrong expiration date when you add the credit card. Then fix it before you "deposit" the money from the card and you can use the full amount.

I tried this yesterday and discovered after entering a dozen or so of them that Bitdefender cards from Citi actually ignore the expiration date and allow the $1 hold to go thru! Parago cards do not (I tried one of them immediately after noticing the problem with Citi Cards). Not happy.



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