As promised about a week ago, I claimed that there is a new method to print miles/points. And here it is
Reloadable Prepaid Greendot card
This card is a great way to meet minimum spending requirement for your credit card with very low fees. This card is a Visa/Master debit card which has many advantages over American Express card.
Basically, you use your point-earning credit card to buy the Prepaid Greendot card, then to buy the Reload cards, and use free ATM to withdraw cash or you can withdraw cash back a any grocery store. In the end, it costs you $5 for 500 points * x which depends on your credit card has a bonus at a grocery store or a gas station.
Since many of you know about Blue Bird and how to load it with Vanilla Reload. The limitation with Blue Bird is that you can’t load with a credit card at Walmart. With Greendot, you have many store options to use your credit card and it is always almost possible to do that. To use Blue Bird at the fullest extent, you need to be able to buy Vanilla Reload at an Office Depot with a Chase Ink or Bold which are not available for everyone. Many people reported that their Office Depot do not carry Vanilla Reload anymore. With Greendot, there is always enough supply of Reload packs.
In the next section, I will detail about which credit card would reward you the most when you buy Greendot Reload at a grocery store or gas station
1. Where can you get the card?
- You can buy it at grocery store in your neighborhood such as HEB, Randalls (Safeway), CVS, 7-Eleven, Walgreens, Walmart
- Or online at this link (free online)
- When you buy in store, you can load up to $500. You will get a temporary card in store. After you register the card, Greendot will send you a permanent card with your name on it. I bought it without any fee since there was a promotion at my grocery otherwise it is $2.99
2. How do you reload Greendot Prepaid Card?
- Get either Greendot MoneyPak or Greendot Cash Reload
- You can buy from $20-$500 for each MoneyPak or Greendot Cash Reload
- These are available at Walmart, CVS, Kmart, 7-eleven, Walgreens and many grocery stores
- A service fee of up to $4.95 will apply when you buy the above two reloads
3. Will I be charged a fee?
- There is a monthly fee to maintain the card however they will waive the Monthly Charge for this Billing Cycle if you have at least 30 posted purchases* OR load at least $1,000.
- I am sure I will load more than $1,000 in this card per month so I won’t be worried too much about this.
Here is a complete schedule of the Green Dot Card fees:
||Varies by retailer, up to $4.95 ($6.95 or less for the NASCAR® Prepaid Visa Card)
- Waived in any monthly billing cycle when you load at least $1,000 to your Card ORhave 30 posted purchase transactions(excludes all ATM declined withdrawals, ATM balance inquiries and teller cash advances).
|ATM Withdrawal & Teller Cash Withdrawal
- No charge at thousands of MoneyPass®ATMs*
- All other ATM withdrawals: $2.50**
- Teller cash withdrawal: $2.50
|Balance Inquiry at Non-Network ATM
|Lost/Stolen Card Replacement
|Reload at Retail Location
||Varies by retailer, up to $4.95
||$4.95 (Free for Prepaid Student Cards)
||Available for purchase
4. Can you withdraw cash for free?
5. What is the daily load limit and maximum balance?
- Yes. The daily per Card reload limit is $2,500.
- The maximum balance is $2,500.
6. Is this a debit card?
- Yes, it is a debit card therefore you have many benefits of it
- More merchants accept debit card
- You can get cash back from a grocery store (so be creative in terms of how you want to get your cash out of Greendot. Cash back transaction at a grocery store is recorded as normal transaction)
7. Other way to load your Greendot
- Direct deposit
- Bank debit card (up to $200)
- Bank account ($1,000 limit in any 30 days period)
8. Online Bill Pay service
- No fee for online bill pay
- You can pay anyone in the United States that you would normally pay by check or automatic debit
- You can also send paper checks to companies or individuals. This might include rent checks to your landlord, the payment to your paper deliverer, or a gift for grandma. Paper checks are sent via US mail so delivery timeframes vary, but are usually within 5 business days
- There is no minimum amount that can be paid, but there is a $1,000 maximum limit on each individual bill payment
Be responsible. Go slow.
Greendot similar to Amex is always on the lookout for suspicious behavior. If a person adds money to Greendot, and then withdraws it all (via ATM, bill pay and others), that would look suspicious. Greendot might not have a sophisticated system but does not make money from these types of withdrawals. I recommend start slow, use the card to buy stuff, withdraw money sometime, send money to friends/families, get cash back at a grocery store.
Be creative and be careful