One of the reasons I didn’t share the name of the institution for my 5x Debit card is that I didn’t want to send you all off to sign up your money when it didn’t work. Such as the Money Orders not processing or the funds locking up, or any other number of things that could go wrong… a benefit of that approach is that when I make a rookie mistake and mess up royally, you didn’t waste your time sending money to these guys.
I just discussed the deal with Nick from PFDigest and he pointed out one rather important mistake with my master plan….
It is 2 points per dollar for signed transactions and 5 points per transaction for PIN transactions. Not 5x at all… your $1,000 Money Order for $1.60 would net you 5 measly points.
Sorry guys, my mistake, and thanks to Nick it didn’t do any harm by wasting your time, other than getting you so excited that you couldn’t focus on your work of course. The good news is that there is still some value in this one in that it does:
- Allow Credit Card to fund for $2,000 (which I hope to see if it can be replicated)
- Open a super high risk, yet interesting door for transactional points earning, because 5 per transaction could mean 33.33 pts per dollar earned if I was to purchase 0.15 cent Amazon eGift Cards. Of course this is an entirely different equation from bagging 5000 pts from a Money Order, and may be even too high risk for me. I would try this if nothing else works and the account has no value to me as a hail mary play.
Also, I’ll be sure to try it out over the various programs such as Square Cash, if I can net a 2x on that it would actually still be a deal worth having. But for now, back to the drawing board folks…. and I’ll be asking Nick for more help before unleashing my next great idea on you. My apologies.