5% Back Simon Visa Gift Cards, works at CVS, Lowe's, Macy's, Staples and more.

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This is a prepaid gift card that offers near instant 5% rebates back to the prepaid card.  Participating vendors include CVS, Lowe's, Staples and more listed at Simon.Com - click on link to Partipating Merchants.  You can purchase online in amounts up to $500/card.  Fee is $3.95 per card plus $0.49 for shipping.  One big negative is it is NOT rechargeable but you can buy it with another credit card.  It is not clear if it is coded as a cash advance or purchase.

Any one have experience with this one?  I found this looking to see why folks were buying $500 in this story here -- http://www.statesman.com/news/local/clerk-accused-stealing-money...

I am debating if it is worth the risk.  Thoughts?
 

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My thoughts are if you're going to do this... why not instead just buy the simon Amex's which are currently on promotion $104 for a $100 amex plus a $15 amex? That's ~10% off.  (I haven't decided to do it yet... a bit of a hassle and paying utilities, etc would eat up most of the savings.  I'd get $97.50 from $104 and have a $15 card left over.  I guess that still comes out to ~7% off.
 

Bend3r said:   My thoughts are if you're going to do this... why not instead just buy the simon Amex's which are currently on promotion $104 for a $100 amex plus a $15 amex? That's ~10% off.  (I haven't decided to do it yet... a bit of a hassle and paying utilities, etc would eat up most of the savings.  I'd get $97.50 from $104 and have a $15 card left over.  I guess that still comes out to ~7% off.
  True, but it is a bit of a hassle to go to the mall.  The 5% deal is online and not just B&M..  But it is limited to select stores.  Perhaps doing both makes sense.  Conflicted....

too much work!...unless MS

There is a thread on flyertalk all about this. Basically you get the 5 back card from simon, then use it to buy a vanilla visa from CVS, then turn that into a money order. Adds an extra step in the process but generates an extra $19 per card in profit.

prastogi2012 said:   too much work!...unless MS
  It depends. My local simon mall allowed my wife and I to purchase 10 amex gcs each. Though we have to sign 10 times each, it's kind of like making over $200 for driving 20 minutes drive back and forth. It's a pretty good deal in my opinion. But if the mall is too far away, you'll have to  decide by yourself.

daw4888 said:   There is a thread on flyertalk all about this. Basically you get the 5 back card from simon, then use it to buy a vanilla visa from CVS, then turn that into a money order. Adds an extra step in the process but generates an extra $19 per card in profit.
 YMMV. One of the CVS stores I went to only allowed cash for the VISA and MasterCard gcs. Money order is also YMMV. My local stores verify the name on the card before selling a money order.

haoniukun said:   One of the CVS stores I went to only allowed cash for the VISA and MasterCard gcs.I thought CVS had a very clear nationwide policy on this. Maybe you just got unlucky with a poorly trained employee?

I don't know if they're supposed to accept the Five Back GC as payment for cash-equivalent products, but they are certainly not cash-only.

scripta said:   
haoniukun said:   One of the CVS stores I went to only allowed cash for the VISA and MasterCard gcs.
I thought CVS had a very clear nationwide policy on this. Maybe you just got unlucky with a poorly trained employee?

I don't know if they're supposed to accept the Five Back GC as payment for cash-equivalent products, but they are certainly not cash-only.

  Maybe it is specific to that store.
​Two different employees in the same store told me the same thing on different days.

Bend3r said:   why not instead just buy the simon Amex's which are currently on promotion $104 for a $100 amex plus a $15 amex?It is over.

xoneinax said:   
Bend3r said:   why not instead just buy the simon Amex's which are currently on promotion $104 for a $100 amex plus a $15 amex?
It is over.

  http://image.e.simon.com/lib/fe641570746c057e711d/m/27/amexholiday_em.jpg

says 1/1/2017 on the email I have.  I haven't stopped by mall though

The original date was indeed 1/1/2017, but Simon ended the promotion early.

I have two GCM black $500 five back visa cards.

Can I buy visa gift cards with them at CVS and get the 5% back ?

smaycs4 said:   I have two GCM black $500 five back visa cards.

Can I buy visa gift cards with them at CVS and get the 5% back ?

  Why not attempt it with one and report back? Worst case scenario you lose $4.95

I was told Amex pulled the promo as the nationwide allotment was reached early...

why not answer the question ?

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