Author Topic: Gift Cards and Evolve Money  (Read 4326 times)

Offline miles123

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Gift Cards and Evolve Money
« on: June 17, 2014, 03:01:47 PM »
Does it make sense to buy 4 $500 gift cards at $4.95 per card to use Evolve Money to send $2,000 a month for my mortgage? Evolve Money only allows 4 transactions per month to the same payee. Or should I just send the $2,000 directly from my checking account to the bank?

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #1 on: June 17, 2014, 03:03:27 PM »
Does it make sense to buy 4 $500 gift cards at $4.95 per card to use Evolve Money to send $2,000 a month for my mortgage? Evolve Money only allows 4 transactions per month to the same payee. Or should I just send the $2,000 directly from my checking account to the bank?
Is 4 x $4.95 worth that many points to you? If yes, there's your answer.
You can also look out for fee free GCs or those that come with rebates (like staples this week).
Workflowy. You won't know what you're missing until you try it.

Offline Marco Polo

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Re: Gift Cards and Evolve Money
« Reply #2 on: June 17, 2014, 03:03:57 PM »
Does it make sense to buy 4 $500 gift cards at $4.95 per card to use Evolve Money to send $2,000 a month for my mortgage? Evolve Money only allows 4 transactions per month to the same payee. Or should I just send the $2,000 directly from my checking account to the bank?
Is $20 worth it for you to get the points???

Quaerite et Invenietis.

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #3 on: June 17, 2014, 03:05:38 PM »
Not sure if its worth it or not. What is the rule of thumb?

Thanks!

Offline lfas25

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Re: Gift Cards and Evolve Money
« Reply #4 on: June 17, 2014, 03:07:28 PM »
Not sure if its worth it or not. What is the rule of thumb?

Thanks!

There is no rule of thumb! It depends on what the points are worth to you, and how much your paying for them...
I only paid 15% by switching to dansdeals

Offline zow

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Re: Gift Cards and Evolve Money
« Reply #5 on: June 17, 2014, 03:10:37 PM »
Hi, I'm new to Evolve Money. I didn't realize there is a limit of 4 payments per payee per month.  Is it 4 free payments, and you can pay for additional ones, or is it just 4, and you can't do any more?

Sadly, my mortgage is a lot more than I can pay with 4 $200 GC's (and even more than 4 $500 GC's, though I don't know where to find those...suggestions on that, too, would be welcome!).

Thanks, all.
Zow

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #6 on: June 17, 2014, 03:12:20 PM »
There is no rule of thumb! It depends on what the points are worth to you, and how much your paying for them...

I'm paying $4.95 per 500 points. I don't know if its worth it. Your thoughts?

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #7 on: June 17, 2014, 03:12:26 PM »
Sadly, my mortgage is a lot more than I can pay with 4 $200 GC's (and even more than 4 $500 GC's, though I don't know where to find those...suggestions on that, too, would be welcome!).
CVS and other pharmacies, Stop and Shop...
Look for the variable fee ones - they go up to $500.
Workflowy. You won't know what you're missing until you try it.

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #8 on: June 17, 2014, 03:12:47 PM »
I'm paying $4.95 per 504.95 points. I don't know if its worth it. Your thoughts?
FTFY
Workflowy. You won't know what you're missing until you try it.

Offline MC

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Re: Gift Cards and Evolve Money
« Reply #9 on: June 17, 2014, 03:13:41 PM »
Four per payee period. But you can always pay the rest through your bank like you normally would.

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #10 on: June 17, 2014, 03:14:03 PM »

Offline Marco Polo

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Re: Gift Cards and Evolve Money
« Reply #11 on: June 17, 2014, 03:15:24 PM »
Not sure what that means.
Fixed that for you...

Quaerite et Invenietis.

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #12 on: June 17, 2014, 03:16:08 PM »

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #13 on: June 17, 2014, 03:16:46 PM »
Fixed what?
If you spend $504.95 on a gift card, you get 504.95 points, not 500.
Workflowy. You won't know what you're missing until you try it.

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #14 on: June 17, 2014, 03:19:17 PM »
If you spend $504.95 on a gift card, you get 504.95 points, not 500.

Thanks!

Is it worth it?

Offline Marco Polo

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Re: Gift Cards and Evolve Money
« Reply #15 on: June 17, 2014, 03:20:52 PM »
Thanks!

Is it worth it?
Depends on the person. Though even if you are not going to travel, you can always sell the points you earn.
Quaerite et Invenietis.

Offline zow

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Re: Gift Cards and Evolve Money
« Reply #16 on: June 17, 2014, 03:22:33 PM »
Etch0 and MC, thank you!
 :)

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #17 on: June 17, 2014, 03:23:46 PM »
Thanks!

Is it worth it?
To me it is...
Especially if:
a) I'm trying to hit a spending threshold
b) I'm buying it at a store that is more than 1 point per dollar on that credit card (eg: Blue Cash amex at stop and shop)
c) I'm buying it a Stop and Shop and getting gas points

Workflowy. You won't know what you're missing until you try it.

Offline etech0

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Re: Gift Cards and Evolve Money
« Reply #18 on: June 17, 2014, 03:27:02 PM »
Thanks!

Is it worth it?
Without spending thresholds/extra bonuses like rebates or gas points, and assuming that you are earning 1 point per dollar, you are in essence buying points for .9 cents (a little under a penny) each. Different points and miles are worth different amounts (and it also depends if you'll use them or sell them). Which card are you using? To me, UR, MR, and SPG points are all worth more than a penny so it would be worth it.
You might also want to factor in gas/tolls/time, and make sure that you're earning enough to make it worthwhile.
Workflowy. You won't know what you're missing until you try it.

Offline miles123

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Re: Gift Cards and Evolve Money
« Reply #19 on: June 17, 2014, 03:47:03 PM »
Without spending thresholds/extra bonuses like rebates or gas points, and assuming that you are earning 1 point per dollar, you are in essence buying points for .9 cents (a little under a penny) each. Different points and miles are worth different amounts (and it also depends if you'll use them or sell them). Which card are you using? To me, UR, MR, and SPG points are all worth more than a penny so it would be worth it.
You might also want to factor in gas/tolls/time, and make sure that you're earning enough to make it worthwhile.

I don't need it for spending thresholds. I'm using the Ink Bold card and buying them at Walgreens.