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I talked about my method of getting 5X points or 5% cash back on every purchase by buying Visa Gift Cards at Office Depot my Guide to Visa Gift Card Churning. However, there is a method to earn 8x back on almost everything!
This method involves shopping on eBay and using PayPal. Ebay’s slogan is What ever it is, you can get it on eBay. This technique sounds complicated, but it can be accomplished easily once you understand it.
Explanation on How to Earn 8X Back on Almost Everything
Many people do not know that you can pay with a credit card through Paypal by linking your credit card to Paypal. However if you have any money in Paypal, eBay forces you to pay with your Paypal balance. The solution to this problem is simple, always withdraw your Paypal balance before buying anything on eBay. The reason why is because eBay owns Paypal. If the consumer uses Paypal as a form of payment, eBay/Paypal save on credit card processing fees.
That’s great for them, but for us we want to use a rewards credit card. An even better option would be buying a Visa Gift Card with a Chase Ink Bold or Chase Ink Plus card from Office Depot to get 5x points. You can then link your Visa Gift Card to Paypal after registering the zipcode. The additional 3X comes from shopping through the MyPoints portal, which earns 2 Mypoints per dollar spent. 10,100 MyPoints convert to 5,000 United miles, or an additional 1X. The last 2X comes from eBay bucks. Here is the breakdown:
- 5X from buying Visa Gift Cards at Office Depot
- 1X from MyPoints eBay shopping portal (after converting to miles at 2:1 Ratio)
- 2% from eBay bucks
- Result: 8X back on almost everything via eBay!
This could arguably be 7X on almost everything because there is a $4.95 fee on the Visa Gift Card. It all depends how you look at it.
Step by Step instructions:
1. Buy a $500 Visa Gift Card at Office Depot using Chase Ink Bold or Chase Ink Plus.
2. Register the zipcode for the $500 Visa Gift Card on Vanillavisa.com
3. Link the Visa Gift Card to PayPal.
4. Cashout any Paypal Balance if applicable.
5. Register for MyPoints. Leave a message below if you would like a referral bonus for 750 points for both of us.
6. Shop through MyPoints eBay Portal.
7. Search eBay for your desired items. I recommend Buy it Now items to ensure the MyPoints eBay portal works correctly.
8. Checkout and click “Change Payment Method”.
9. Pay with Visa Gift Card and earn 8X on almost everything via eBay!
I recently bought $500 of Marriott Gift Cards using this method and I got 5X from Visa Gift Card, 3X Mypoints(now 2X), and 2X in eBay bucks. The MyPoints came the next day! The eBay bucks will be credited to your account at the end of each quarter.
If you follow the steps above, you will earn 8X back on almost everything shopping on eBay. This method lets to earn a combination of points, miles and cash back! However, I would proceed with caution with Paypal and not link too many cards. Don’t keep a big balance in your Paypal account either. However in my opinion, being shutdown by AMEX or Chase is a bigger concern. I’ll let the readers think of how to maximize this deal even further before I make another post on the topic. Tomorrow I will expand on other opportunities to leverage this method. Please ask any questions below if you need help! What will you be buying using this 8X method?