[Expired] Swagbucks: Buy Swagbucks With Credit Card For Facevalue ($20 Worth For $20)

Update 12/15/21: Deal is over

Update 12/6/21: Reposting in case anybody missed that this was alive again.

Update 12/1/31: This deal is live again at this link. I assume it’ll be the same YMMV limit of 2 or 3 per day.

Update 11/8/21: Reports indicate that this is being considered a small business for various Shop Small deals from Amex, e.g. the $10 off deal.

Update 11/8/21: Some people are reporting now being able to buy 3 per day. Some things to be kept in mind here.

Update 11/3/21: Friendly reminder this is still going.

Update 10/10/21: Seems to be a limit of one or two, but it does refresh daily. Reader rip_kb24 reports that it refreshes after a few hours, even during the same day.

Contents

The Offer

Direct link to offer

The Fine Print

  • Unknown limit; in the past, you’ve had to wait a short period in between each purchase (2-3 mins). Update: seems to be limited to just 1 or 2 this time.
  • residents of AZ, CT, MD, and ND are not allowed to make SB purchases due to applicable state law

Our Verdict

It can be useful for meeting Swagbucks Daily Goals which earns you some bonus SB, and also for generating a small amount of credit card spend. (Note: Citi Access More earns 3x.) This deal isn’t as good as a previous deal which offered a 10% discount, but we’ve written about the face value deals in the past and some people have found it worthwhile.

Each month you can purchase one $25 gift card for 2,200 swagbucks and Swagbucks also runs other gift card sales, so it is possible to get a bit more than 1¢ in value from the SB. Otherwise, you typically get 1 cent per point via Paypal.

Hat tip to reader San

If you’re new to Swagbucks then please read our review. You can get a bonus of up to $13 by using a referral link.

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Ethan
Ethan (@guest_1307193)
December 31, 2021 11:00

A tax question for the new year. I contacted Swagbucks and confirmed that Buy SB is not a taxable activity. They cann’t confirm if paypal redemption for the SB bought count towards the Paypal $600 threshold. I contacted Paypal and they don’t have a definite answer yet. Does anyone here have an answer? Thanks

Fred
Fred (@guest_1307204)
December 31, 2021 11:21

Paypal can absolve itself of responsibility by reporting everything (i.e., counting everything towards the $600 threshold). So assume that Paypal is going to report everything that comes into your account, and prepare to maintain records showing what should not be taxable or what should be offset by money you spent.

Ethan
Ethan (@guest_1307239)
December 31, 2021 12:24

SB confirmed that they will not 1099 for Buy SB for sure. Any redemption using the SB bought will not trigger a 1099 at Swagbucks. However, they are not sure if Paypal count them toward the $600

Otto
Otto (@guest_1307291)
December 31, 2021 13:52

PayPal cashout of SB shows up in my PayPal reports like goods and services, so I am pretty sure it will count toward $600 reporting threshold. PayPal does not know or care what the payment was for. If it’s not a friends/family payment I would plan on it counting. Note that just because you get a 1099 for it does not mean it’s taxable. It is just extra paperwork and record keeping.

Ethan
Ethan (@guest_1307328)
December 31, 2021 14:56

Can I use prepaid debit card to buy a money order at Walmart?

Kyle
Kyle (@guest_1309761)
January 5, 2022 16:55

I 2nd this. PayPal cash out shows up as a goods and service purchase. They have no idea what the payment was for. I stopped buying SB specifically because I don’t want the headache of trying to dispute this come tax time. Just not worth it to me. It’s too bad SB doesn’t transfer directly to your bank account.

Troy
Troy (@guest_1314874)
January 14, 2022 04:42

It’s less of a hassle than you think. Just throw in a line of cost associated with it and show this as a rebate on that spend. For those of us with reselling businesses in various states like Illinois the numbers get way bigger than you’d think and it’s not a problem unless you’re going 7 figures I’d imagine.

Kyle
Kyle (@guest_1326980)
February 6, 2022 08:02

Troy
I understand Illinois and a couple other states already have these rules set in place. From my understanding (correct me if I am wrong) they state that the 1099-K is for informational purposes only and that you as the tax payer should report actual income based off of this form. In other words, just because you were issues a 1099-K for “X” amount does meant every bit of “X” amount is taxable. I am just wondering of the federal government will follow suit and use the 1099-K for informational only.

Carson C
Carson C (@guest_1303590)
December 21, 2021 19:09

I used PPK and linked Boa Cash rewards Online Shopping to purchase Swagbucks. The description says Paypal “Prodege”, but I only got 1% reward instead of 3% I was expecting!

Dave
Dave (@guest_1300339)
December 15, 2021 17:22

It’s still a TWO per day limit for me. Grabbed 2 @ 2000 before the change. Won’t let me buy 1 @ 2199. I was trying for that 415 daily bonus which would have still made money over their fee. Oh well.

Jeff
Jeff (@guest_1300324)
December 15, 2021 17:04

Well shucks. Was happy to liquidate a few virtual visas this way though when it was alive.

TB
TB (@guest_1300321)
December 15, 2021 17:01

Hope DoC made enough of this to buy some nice presents 🙂

Every Sperm is Sacred
Every Sperm is Sacred (@guest_1300280)
December 15, 2021 16:33

Wondering if they have a monthly limit. Hoping it turns back on as of 1/1/22. The more folks that catch on, the earlier in the month it may start to end. 17th end in Nov……15th end in Dec….? end in Jan 22?

Sam F.
Sam F. (@guest_1300429)
December 15, 2021 19:24

Did it start on 11/1 and 12/1?

Dan
Dan (@guest_1300455)
December 15, 2021 20:06

No, the first term starts around 10/11

Every Sperm is Sacred
Every Sperm is Sacred (@guest_1302075)
December 18, 2021 17:55

yeah it started in Oct mid month…..so might never have hit threshold for Oct….fewer folks were doing this deal in Oct. My theory is it got popular enough to end in Nov on the 17th and in Dec on the 15th. I am hoping it is a recurring thing at the start of every month but that’s probably wishful thinking.

Kyle
Kyle (@guest_1300261)
December 15, 2021 16:21

Seeing 2000 pts for $21.99. Break even if I keep buying for P2. Onward!

Arley
Arley (@guest_1300235)
December 15, 2021 16:04

Damn…missed to get my second for the day.

Matthew
Matthew (@guest_1300156)
December 15, 2021 15:07

Got 2 this morning before the change.

Dan
Dan (@guest_1300136)
December 15, 2021 14:40

My new credit card hasn’t arrived yet. How could I finish my spending requirement.

Ryan Leftwich
Ryan Leftwich (@guest_1300168)
December 15, 2021 15:14

Making a tax payment or pre-paying taxes is a popular option this time of the year. Depending on the issuer you could look into Visa/MC gift cards.

Dave
Dave (@guest_1300386)
December 15, 2021 18:13

Dan Easy. Open a bank account with CC funding, transfer money out, close the account.

Dan
Dan (@guest_1300457)
December 15, 2021 20:08

Ah yes, I did that before. I already closed the account. I would like to know, is it possible to reopen the account and fund the account via cc?

Dave
Dave (@guest_1300555)
December 15, 2021 22:16

Dan. R U On Drugz?

Gil
Gil (@guest_1300550)
December 15, 2021 22:12

Isn’t going to code as a cash advance?