Posted by William Charles on February 16, 2019
Manufactured Spending

Published on February 16th, 2019 | by William Charles

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Simon Mall Increases Giftcard Limit To $25,000 Daily (From $10,000)

Simon Mall has increased the amount of gift cards a consumer can purchase in a single day to $25,000, up from $10,000 (including purchase fees). This includes Visa, Mastercard & American Express gift cards all of which can be purchased in denominations up to $500 for a $3.95 purchase fee. Interestingly enough this change was directly communicated with Frequent Miler so it seems like they are OK with high levels of manufactured spend.



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Sevillada
Sevillada

Wow increasing 10k daily limits to 25k … it’s definitely for high rollers

Frank
Frank

Nice, now my unicorn that lets me liquidate 50 GC per day will finally be useful

Dave
Dave

Doc, you probably should reference that buying Simon GCs with an Amex is asking for trouble. This is nice news for the community but doesn’t really help those that want to put spend on Amex cards

Hari
Hari

Curious what’s the issue with amex cards?

Bo knows
Bo knows

amex cards can’t be liquidated easily

Matt P
Matt P

OP is talking about buying with an Amex not buying amex GC. Amex tracks what your actual purchases are, and if they see you buying lots of GC, especially with a card that earns MR, they’ll shut you down right quick.

Brant
Brant

The issue with AMEX being used to purchase VCGs at Simon Mall is that they code as these purchase like a cash and therefore they don’t qualify for spend as outlined in the AMEX rules. Don’t find this out the hard way. You can, however, use Chase cards there without a problem.

Bo knows
Bo knows

amex simon mall vgc purchase won’t trigger amex promotional bonus, but still counts as generic purchase earning regular generic spending points.

Flynn
Flynn

Bring us an MS path similar to the old prepaid Target Redcard program but perhaps with such a higher limit and a small obstacle for a fee free monthly withdrawal. I wouldn’t mind spending a few hundred $ in “real” shopping at their stores to get a free monthly withdrawal. That would be a win win for Simon Malls and the MS community!

Brant
Brant

I was gleefully informed of this dramatic increase during my most recent visit to a Simon property to make my usual run. The girls there have my “over the limit” form already filled out and photocopied in file to save me time. $25K is a genuine boatload of VCG’s. Anyone have some new liquidation ideas? Walmart and my local grocery have been good about money orders, but other options would be nice.

ZipZapKaZoom
ZipZapKaZoom

Bad news. Heavy hitting will accelerate the decline of liquidation options.

Said differently, a local grocery chain shut down shortly after the most recent Staples promo overwhelmed the cashiers with $200 GCs.

Kyle Shanahan
Kyle Shanahan

Newsflash. Heavy Hitter are already doing big volume. This isnt going to matter to them

RCorona
RCorona

Another interesting bit of info I have received from my local Simon mall which could be a game changer….they are reportedly looking to begin offering money orders as well. I was told this by a manager on duty. Where she got the info, and whether it’s accurate is obviously impossible to know. But she had also informed me about this change to $25K limit increase before it became official.

Sevillada
Sevillada

They could create a safe heaven for MSers where we could even pay a bigger fee if we know we won’t be rejected and we have a reliable liquidation method
Most of us would even be willing to fully register with them (multiple forms of ID, etc) to prevent fraud. Win win

GR8FUL
GR8FUL

25K!!
I’ll be happy if I can find a way to liquidate the 500’s that I buy from Kroger.
Definitely for heavy hitters, of which many can be found here.

danny
danny

what cards are people doing this much MS on? 2% cards? amex gold?

xazwa
xazwa

Does Simon mall allows buying visa GC with CC?

Ryan
Ryan

No, no one allows that.

Hari
Hari

Yes

Ann
Ann

Of course. That’s why people are so interested in them.

Stan
Stan

am i paranoid to prefer buying GCs at grocery stores in order to “mask” the GC, by also buying groceries with them?

Jeff
Jeff

It’s really only necessary with Amex, Chase (and others) don’t typically care.

Ryan
Ryan

Yes you are.

John
John

What’s the point of that??

Mimi
Mimi

If you’re trying to meet MSR for any CC, that is advisable to do especially for stores that don’t submit L3 data so you don’t really have to mask but of course, frequent purchases of $505.95 would definitely be a clue should eyes be on your account.

For the heavy hitters, they’d prefer $20K one time purchase which is impossible to do at any grocery store. I’m not surprise that methods to drain have been kept secret these days so they can prolong them. Gone are the days of arrows and circles by MMS.

Oliver
Oliver

I am doing the exactly same thing using Amex Gold to buy $500 VGC. I am concerned if one day Amex will find out what I bought. Any opinions?

carl wilson
carl wilson

A person can build a 5M/yr “business” by buying Simon Mall VGC’s . Quite the country we live in eh.

CM

It’s more funny that you could actually make decent living simply by spending 8h each day doing the MS on a single 25k purchase each work day. Netting nearly six figures in profit.

Brant
Brant

What could go wrong? LOL!

carl wilson
carl wilson

Absolutely nothing could possibly go wrong, LOL!!

carl wilson
carl wilson

Haha. customer service matters in this “business” and the customer you serve is yourself. LOL!!

beat2def
beat2def

How? I’ve only used it (in the past) to meet the spend on certain cards but never could imagine how one could generate a six-figure profit of income. My interest is piqued!!!

MickeyMouse
MickeyMouse

Okay well for starters have a 2% Card or two to split spend.

2% on a 25k Purchase is $500

Of that you pay $197.50 in GC fees and another $22 in MO fees.

Leaving you with $280.50 in profit.

If you earned that profit every single day of the year you’d get:

$102,382

Take 8 days off a year for birthday and holidays and you’d still be over 100k.

Personally it would take me 4 days to liquidate the 25k so if I did this method it would take 4 years to get 100k with WM new limits in place I don’t know how someone could do more. I wish I had more methods of liquidating lol

DigitalPop
DigitalPop

Important point you’ve forgotten: credit card rewards/cashback are not taxable income (considered a refund by the IRS). So that $102,382 is untaxed.. which is more like $150k/yr of a normal taxable salary.

John
John

Buying gcs is easy. Liquidation is increasingly difficult

Greg
Greg

THIS. I know some people live in a MS-friendly area (low MS population or other factors) and these are probably the ones saying ‘easy peasy’. But, I think most major metro areas you will have difficulty liquidating without having to waste time finding the ‘MS-friendly’ CSRs at the WM Money Center or whatever grocery store allowing debit for MO. Though if you make the effort to find multiple liquidation methods besides those two, kudos for making the effort to do that and more power to you.

Marshall
Marshall

Cannot agree more

david
david

I can’t find one Wal-Mart in ny that lets me buy money orders.i just dont know any place that does it anymore..
when i shop. if a see a guy paying cash ..i try talking him into letting me pay with gift card and him giving me the cash.

MickeyMouse
MickeyMouse

A majority of mine allow 1k (2 swipes max) per day. If I drove to 6 of them plus the 1 that allows 2k that’d be like 100 Miles in Driving.

One liquidation method I will let you guys know (but warn definitely to tread very lightly) is you can use VGC to make payments towards store issued CC’s. Any Store issued CC that allows payment via Debit Card you can use this method. You can overpay the card and call to request a credit balance refund check. Definitely wouldn’t try to exceed $1,000-$1,500 though as it’ll easily get your CC shutdown. But if you live in an area where liquidation is difficult and need to liquidate a couple thousand and have a few store cards that accept debit payment in store this method works.

AkJohnny
AkJohnny

imagine if there was an ability to fee-free use ATMs to liquidate Visa gift cards…. or even better to just be able to deposit them like you would a regular check to your bank without having to convert to money order… I’d be about that on a daily basis!!!

Spencer
Spencer

I had a dream that the new Chase mobile App would allow this. Just take a picture of the front and back of the gift card and it deposits to your checking account! Simple!

Eddy M
Eddy M

I’d be nervous about doing that regularly – anything over an aggregate of 10k daily and they should be required to fill out a SAR with FinCEN under the Bank Secrecy Act.

JV
JV

This assumes that all the cash is being liquidated into the same account.

Alex
Alex

The SAR only applies to cash, and I think the bigger thing about this (at least for me) is it means fewer trips to do the same amount of MS.

MickeyMouse
MickeyMouse

Exactly! I’ve had times when I needed to MS 14k and had to make two trips because of the 10k Limit. I doubt most people who regularly MS 10k will even consider doing above 20k, maybe 12-15 but not 20+. That’s for the whales.

Mimi
Mimi

They can increase it up to $100K per day but it won’t excite me since buying is easy but liquidating them has been very challenging since late 2018. With unstable liquidation methods these days, I’d rather not be caught stucked with several thousands GCs.

Now….if they’d sell non corporate $1K GCs with slightly higher fees, that’ll get me excited.

J. Sarayda Shapiro
J. Sarayda Shapiro

What is a non-corporate GC?

Mimi
Mimi

You can set up a corporate account with Simon and order $1K GCs BUT these cannot be used for MS purposes, i.e., you can’t buy and drain them in one transaction or they will shut down your corporate account.

The ones discussed here is for consumers VGC where the max load on one card is $500. With more and more stores disallowing split payments, $1k VGC would’ve been very ideal with just one swipe but I know it’s wishful thinking.

Ann
Ann

“With more and more stores disallowing split payments”

Do tell, I haven’t heard about this, which stores?

Mimi
Mimi

It’s always been YMMV depending on your location, i.e. whether at grocery stores like Kroger or WM, there are cashiers who disallow split payments with MO. In a lot of cases where cashiers ask to see the card and reject VGCs, having $1K VGC will be so useful in buying MOs up to $1K with most cashiers not getting suspicious that it’s a GC when buyer is not asking to split payments. I know many MSers just do one swipe these days and that increases liquidation fees.

Ann
Ann

Oh, just for MOs specifically, OK. I haven’t pursued the MO route myself, and haven’t run into issues with split payments on normal purchases.

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