• Page :
  • 1
  • Text Only
Voting History
rated:
Today Amazon says minimum amount for gift card is $1  (

Amazon use to allow me to send myself 99c GCs on some cards that forgive sub $1 monthy spends. Now that easy source of income gone.

Which online cash equivalents / store GCs can be bought for under $1 (free delivery / digital) ?

Edit:
--------------
Solved:  bksavings said:   "You can still refill your Amazon ) gift card balance for 50¢ minimum."

Reference for those new to this type of mini "income" gain more "knowledge" @  https://www.fatwallet.com/forums/topic_view.php?catid=52&threadi...
 

Member Summary
Most Recent Posts
They have explicit rules, and this does not violate them, so they're not going to do anything. The GC minimums have been... (more)

scripta (Jul. 24, 2016 @ 1:26a) |

This, on top of managing each card really makes me scared for the future of humanity.

Crazytree (Jul. 24, 2016 @ 4:32a) |

I found out about small balance forgiveness by accident. I buy extra Google storage for $1.99 each month automatically ... (more)

murkyin02 (Jul. 24, 2016 @ 10:41p) |

Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

invisible said:   [...] send myself 99c GCs on some cards that forgive sub $1 monthy spends. Now that easy source of income gone.

 

Not sure I understand you correctly. Are you saying that some credit cards actually look at your monthly spend to forgive you small statement balance?
I'm pretty sure that what is forgiven is statement balance if it is below some amount.

So in your case to continue doing this, you would need to buy a $1 giftcard and then billpay $0.01. Or buy a $100 giftcard and billpay $99.01. You get the idea.

Is it really worth the risk of losing the bank relationship for ~$12/year per card?

Buy GC for $1.99 and pay $1.00 immediately leaving a $0.99 balance. Should get forgiven. Might piss off banks if a human ever looks at it. I agree with TravelerMSY. There are better deals out there. I would only do this on cards that you are 100% sure will forgive the balance and that you don't care about losing by having it closed by issuer.

You can still refill your Amazon gift card balance for 50¢ minimum.

bksavings said:   You can still refill your Amazon gift card balance for 50¢ minimum.
  Super , thanks bksavings, yes that works, income reinstated  

 

TravelerMSY said:   Is it really worth the risk of losing the bank relationship for ~$12/year per card?
  Yes, this is FWF.  We milk the golden goose until it goes dry ... j/k

But yes in this specific case yes, there is other thread on credit cards that forgive small balances.

With these cards been doing this for several years regularly, monthly 99c, few clicks no problems..... I understand its days are numbered but been this way for many years. Instead of closing or sock-drawering the cards this is a way to get some income. 

I am pretty sure the banks figure processing the under $1 payment costs them something.... well... thats all

Are y'all serious? Even if you had 100 cards it would only be $1200/year. I do agree the odds of bank AA on it are low.

Many McDonalds have 89 cent drinks now. Even with tax, the charge is under a buck.

You see kids, this is why Mom always told you to work hard in school. This thread has me SMDH. 

TravelerMSY said:   Are y'all serious? Even if you had 100 cards it would only be $1200/year. I do agree the odds of bank AA on it are low.
  But it takes less than 5 seconds to do a reload, so that $1200 would be using less than 2 hours of your time...

You don't apply for new accounts for this, but when you have the cards already there's no reason not to get yourself a couple free orders from Amazon

1) The odds of AA on this aren't just low, they're zero. I've been doing it for 7 years on probably 9 different cards from 4 issuers (not all at the same time), and the only "action" I recall is one issuer just stopped refunding. No AA.
2) Some cards forgive $2!
3) It keeps the cards active, so they don't get closed due to inactivity. On the other hand, I noticed that it stops any "spend X get Y" bonus offers usually reserved for inactive cards, so I'm more selective now.

invisible said:   Amazon use to allow me to send myself 99c GCs on some cards that forgive sub $1 monthy spends. Now that easy source of income gone. 

I don't get how this results in income?

I've been doing this a few years too - some cards have stopped enabling it, once in a while I add a good new one. We usually have 10-15 that are good for .99-1.99 each. Never any AA, and it does in fact seem to keep these otherwise sock-drawered cards from being closed. We get about one truly dormant card closed by issuer per year.

I use it to pay for internet service. Both cable and DSL providers for me allow CC payments of any amount, though they each have simple throttling rules that mean I check in on it once a week or so to use a few. Comcast doesn't allow multiple payments of the same amount in one day.

So...how is this not stealing?

It works both ways -- if you have a positive credit balance below a certain amount, some issuers will just take it away (after a few months of inactivity) instead of sending you a check. How is that not stealing?

Amex calls this "Small Balance Write-on Purchase Principle" [sic]. As opposed to a write-off, I guess.

Stealing is taking something against the will of others. If someone walks up to you and puts something that belongs to them in your pocket, that isn't stealing.

stealorama said:   Stealing is taking something against the will of others. If someone walks up to you and puts something that belongs to them in your pocket, that isn't stealing.

Sorry, I have a tough time taking lessons in ethics from a user with the name "stealorama"

atikovi said:   
invisible said:   Amazon use to allow me to send myself 99c GCs on some cards that forgive sub $1 monthy spends. Now that easy source of income gone. 

I don't get how this results in income?

It isn't income.  It's a little free credit at a store.  

Sorry for my ignorance, but what is AA?

JamesPolk said:   So...how is this not stealing?
  Which part of it is stealing?

SeinfeldFan said:   Sorry for my ignorance, but what is AA?
  adverse action

Thanks

Glitch99 said:   
atikovi said:   
invisible said:   Amazon use to allow me to send myself 99c GCs on some cards that forgive sub $1 monthy spends. Now that easy source of income gone. 

I don't get how this results in income?

It isn't income.  It's a little free credit at a store.  

Income for those otherwise spending OOP @Amazon, not for those who never buy from Amazon 

Anyway updated the OP with useful long running FWF thread   

Not heard or had any AA on such activity, at most no zeroing out the low statement balance

As this violates no TOS, since one is free to use the CC at any frequency or amount under the limits, so all those shouting stealing have no basis.

I do not have any automated good way to charge 99c (or conventionally forgiven low amounts) monthly except perhaps set up donations if they allow < $1 so yes does take a few clicks, Amazon being one of the easiest....

But would like to hear if others have better means to accomplish the monthly "chores" per card

 

I already told you. Buy $1.99 in Amazon GC on each CC account, have a $1.00 automatic payment set to go to that CC account at the same time. You will be left with a $0.99 balance when the CC statement closes.

DTASFAB said:   I already told you. Buy $1.99 in Amazon GC on each CC account, have a $1.00 automatic payment set to go to that CC account at the same time. You will be left with a $0.99 balance when the CC statement closes.
Yes it should work the way you mention but it forces forking out extra buck to Amazon OOP that I prefer not to.  So I like the bksaving's suggestion slightly better to refill Amazon GC that does the same thing w/o any OOP.

Now Amazon isn't the only place to charge small balance monthly, but is just easier. If there are other equivalent I'd love to hear. I used to do 99c at utilities/phone etc but slowly they all stopped sub $1 charges over the years, and I lack the cards that forgive over $1 statement balance.

invisible said:   
DTASFAB said:   I already told you. Buy $1.99 in Amazon GC on each CC account, have a $1.00 automatic payment set to go to that CC account at the same time. You will be left with a $0.99 balance when the CC statement closes.
Yes it should work the way you mention but it forces forking out extra buck to Amazon OOP that I prefer not to.  So I like the bksaving's suggestion slightly better to refill Amazon GC that does the same thing w/o any OOP.

Now Amazon isn't the only place to charge small balance monthly, but is just easier. If there are other equivalent I'd love to hear. I used to do 99c at utilities/phone etc but slowly they all stopped sub $1 charges over the years, and I lack the cards that forgive over $1 statement balance.

  You have to spend money to make money.  

TravelerMSY said:   Is it really worth the risk of losing the bank relationship for ~$12/year per card?
Similarly, is it worth losing the ability to purchase from Amazon for ~$12/year?

Amazon probably hates eating fees on sub $1 GCs. I personally love using Amazon and have heard of plenty of people getting blacklisted through abuse (excessive returns, drop shipping through Prime etc..).

MrSamsung said:   TravelerMSY said:   Is it really worth the risk of losing the bank relationship for ~$12/year per card?Similarly, is it worth losing the ability to purchase from Amazon for ~$12/year?

Amazon probably hates eating fees on sub $1 GCs. I personally love using Amazon and have heard of plenty of people getting blacklisted through abuse (excessive returns, drop shipping through Prime etc..).
They have explicit rules, and this does not violate them, so they're not going to do anything. The GC minimums have been climbing for a couple years -- they know exactly what's going on and they're adjusting their policies as they see fit.

I don't recall all the details, but not too long ago someone got in trouble with Chase when they wrote and ran a browser script to buy a ton of $0.01? GCs using a Chase card that gave $0.10 cash back per transaction. Chase nixed that program shortly thereafter and Amazon raised the GC minimum (to $0.15 IIRC), but I don't think they lost their Amazon account. Drop shipping and excessive returns is clearly an abuse. Purchasing a few $0.99 gift cards each month is not. If they don't like it, they'll simply disallow it.

By the way, I suspect that Amazon pays the same sub-2% fee to accept credit cards regardless of the amount. They've got volume and can negotiate. Heck, they kept Amazon Payments going for years with a free $1K/mo CC transfer, that must have been way more expensive. It's not abuse when it's explicitly written into the rules.

MrSamsung said:   
TravelerMSY said:   Is it really worth the risk of losing the bank relationship for ~$12/year per card?
Similarly, is it worth losing the ability to purchase from Amazon for ~$12/year?

Amazon probably hates eating fees on sub $1 GCs. I personally love using Amazon and have heard of plenty of people getting blacklisted through abuse (excessive returns, drop shipping through Prime etc..).

  This, on top of managing each card really makes me scared for the future of humanity.

I found out about small balance forgiveness by accident. I buy extra Google storage for $1.99 each month automatically paid on my DSCVR card. One month when there were no other charges on the card, the balance forgiveness message showed up on the statement and I had to look it up to see what it was. Now I do not use that card for anything else but free $1.99 per month.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017