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The Trick
This is one of the travel hacking favorites that you will see referred to again and again. There is a card in the Chase Ink Business Card family – the Chase Ink Cash Card. This card earns 5x points at Office Supply stores. While you may not immediately think of Office Supply stores as a great catch. Office Supply Stores sell gift cards. Gift cards to Amazon, Disney, etc. Many people will also watch for Staples to have deals where they waive the activation fee on Visa gift cards. During this week, where they waive the activations (1-2x a month), you can purchase visa gift cards, and use these for your regular monthly spending. Any spending from this office store earns you 5x points back, therefore, the spending you are doing on your gift cards is always earning 5x credit card points.
The Catch
There are a couple things to be aware of if you pursue this method.
Number 1 – Fraud. Many people will find their cards flagged for fraud because stolen cards will often be utilized to buy large sums of gift cards. So, if you get a call from the bank while waiting for your purchase to go through – answer it. I’ve heard many people have success with adding on a pack of gum or something small to their order so that they can get the total away from an even number.
Number 2 – Don’t just buy gift cards to buy gift cards. We say this a lot, because it’s so important, but only spend on your card what you will be able to pay off in full each month. This is a place where the overspending gets tempting.
Number 3 – Manufactured Spending. This is not the site to find info on manufactured spending. It scares me, and if you enter into it, do so with caution and a lot of knowledge. There are many people who have gotten their bank accounts shut down from this, so we aren’t the ones you will find recommending it.
Conclusion
If you have the patience to keep up with the gift card buying and spending this is really a great way to increase your points earning on everyday spending and always earn 5x credit card points with your purchases. As long as you exercise caution, and move forward with money you have to spend, Gift Cards away!!