Best way to cash out rebate visa cards: What works, what does not...
I need some help on cashing out rebate visa cards that you get from doing FARebate deals (usually for racking up points or meeting minimum spend). I've been googling a bit, but a lot of information is outdated (i.e. 2011 and earlier) and the methods do not work anymore.
Here's what I know and tried:
1) Square. "Pay yourself" and transfer the money to your linked bank account. Square takes 2.75% fees, so this is not optimal. If I do $1k of FARebates, I lose $30 in fees. Also, it needs to be done in moderation, as I've read that Square clamps down if you do too many transactions.
2) Cash Advance at Banks. A lot of posts from the 2010 to 2011 period says that you can take the rebate visa cards and cash them out at banks. This does not seem to work anymore. I've tried it at Chase and another local bank, the banks get some authorization error.
3) Amazon Payments. This is the fee-free way to go. However, I am worried that Amazon may flag your account if you add 20ish cards in a month. I've done it only 3-4 times so far, and I am worried about continuing. Does anyone cash out their rebate cards by AP? Did you get flagged?
Does anyone else have any other suggestions to chip in?
And please can we avoid the conversation of "just spend it at XYZ"
Gift cards for grocery stores is also a good place to use. I mean, who doesn't buy groceries from a big grocery chain?
Ya, this might be useful if the card is expiring, but then you have to manage an even more useless gift card. You take a Visa rebate card that's good just about everywhere and make it only good at that specific grocery store
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