Woolworths gift card thread

[Coops1]

Is $3.40 of DJ gift card per $100 of V1 worth it? Or am I still missing the trick?

I don’t think your missing anything, I agree as well, and I don’t think it’s worth it, too time consuming with the back and forth online and in-store.

Each to their own and it is great sharing these things, but I would rather outlay the 65cents each time, although you then have $x cash tied up.

 

[cove]

Isn’t that a lot of rooting around when you can get David Jones gift cards 10% 0ff as well as credit card points for doing it using the entertainment card?
We do that for presents.

 

[Mr_Orange]

I may be a bit slow on the uptake here, Dr R. (FWIW I had to watch "Inception" twice before I got it.)

Are you:

1. Buying the Wish card with your points earning credit card (I think you are Amex free, but one could earn 3 pts per $1 spent for, say, an Edge). Example: buying a $105.95 Wish card for $100.65.
2. Buying the $100 Only1visa with the $105.95 Wish card.
3. Buying a $105.26 Wish card online with the $100 Only1visa.

Rinse and repeat. Is that right?

So after the inital purchase you only ever buy one Wish card (having progressively higher face values) online with a $100 Only1visa each time - you can't buy higher denominations (eg A $500 Wish card), to make the process at the checkout quicker?

Thanks

NC

Yeah but.... $105.26 is not enough to buy another V1.....

 

[lovetravellingoz]

That's basically the inception idea.

It's definitely time consuming. But free money is free money in my book.

Where time is involved the question also comes into it as to whether time spent on other ways to make money are better.

Now some cannot do this and so for them this is an extra "part-time" job that can be a winner.

In my case my business is scalable so I can easily earn more money if I wish by just spending more time (which as it is mainly cloud based can be done anywhere with internet and mobile access. No extra overheads in $$ or travel time, transport cost are required. Plus I find it hard to spend DJ vouchers in many good ways.

Also unfortunately for me in my case VISA1's tend to be hard to come by without significant driving times (History has shown me where they tend to be, and that is not at the stores near me ).

 

[Dr Ralph]

Next step, use the V1 to buy a WISH GC with a value of $100.

No. The WISH card has a value of $105.26 if purchased with a $100 Visa Only card.

 

[Dr Ralph]

Where time is involved the question also comes into it as to whether time spent on other ways to make money are better.

This has been discussed extensively before. I'm not sure there is any value in raising the same point again. But I will remind people that this money is tax free.

 

[Dr Ralph]

Yeah but.... $105.26 is not enough to buy another V1.....

I don't know that anyone claimed that it was.

 

[New Chump]

Next step, use the V1 to buy a WISH GC with a value of $100. If you now buy another V1 at $105.95, your net bonus of the $10 DJ card is reduced by $6.60. Is $3.40 of DJ gift card per $100 of V1 worth it? Or am I still missing the trick?

Edit: I posted this yesterday, but for some reason it didn't go through.

Isn't the trick using the $100 V1 card to buy a Wish GC (via Cashrewards/EB etc at 5% off) ie buying a Wish GC with a value of $105.26, not a Wish GC with a value of $100?

NC

 

[Mr_Orange]

I don't know that anyone claimed that it was.

So you end up with a $105.26 WISH card having originally spend $100.65. Fine.

If you do this exercise 80 times, you are tying up a lot of cash in WISH cards, which was my first point some posts above.

 

[Dr Ralph]

If you do this exercise 80 times, you are tying up a lot of cash in WISH cards, which was my first point some posts above.

But you're not. You're using Visa Only cards and WISH cards instantly.

Ive also acknowledged this isn't for everyone. If you don't have the time then don't use the strategy.

 

[Mr_Orange]

But you're not. You're using Visa Only cards and WISH cards instantly.

The 1st WISH 'instantly' converts to a V1, which 'instantly' converts back into a WISH. 1 WISH card created.

Repeat = 2 WISH cards created.
....
....
....
80th repeat = 80 WISH cards created at a stored value of $105.26 x 80 = $8,420.80 in tied up money.

 

[lovetravellingoz]

This has been discussed extensively before. I'm not sure there is any value in raising the same point again. But I will remind people that this money is tax free.

Well perhaps also state then it is not free money then, but rather tax free money that costs time, and if any transport is used some $$.

 

[SOPOOR]

The 1st WISH 'instantly' converts to a V1, which 'instantly' converts back into a WISH. 1 WISH card created.

Repeat = 2 WISH cards created.
....
....
....
80th repeat = 80 WISH cards created at a stored value of $105.26 x 80 = $8,420.80 in tied up money.

Only if you have lots of spare time,
if you are time sensitive eg for a promo like the DJ ones, it probably wont work, as you will run out of time

 

[Dr Ralph]

The 1st WISH 'instantly' converts to a V1, which 'instantly' converts back into a WISH. 1 WISH card created.

Repeat = 2 WISH cards created.
....
....
....
80th repeat = 80 WISH cards created at a stored value of $105.26 x 80 = $8,420.80 in tied up money.

No.

You don't seem to accept the concept of 're-investing'. You use one card to purchase another card. There would NEVER be 80 WISH cards stored at any stage to purchase 80 VISA Only cards.

This inception concept is a strategy that I have used before. It is highly successful for me. I've made thousands of dollars from it. But as I continue to indicate it's not for everyone. Free money is free money. If you don't want to engage in it then don't do so.

 

[Mr_Orange]

No.

OK, whatever!

 

[andye]

The 1st WISH 'instantly' converts to a V1, which 'instantly' converts back into a WISH. 1 WISH card created.

Repeat = 2 WISH cards created.
....
....
....
80th repeat = 80 WISH cards created at a stored value of $105.26 x 80 = $8,420.80 in tied up money.

Its buy WISH
Buy Only 1
Redeem DJ card
Use Only 1 to buy WISH
Buy Only 1 etc

No (EDIT: correction-very little) tied up money with that method.

I prefer to tie up the money and get very cheap Amex points but each to their own circumstances.

 

[SOPOOR]

Its buy WISH
Buy Only 1
Redeem DJ card
Use Only 1 to buy WISH
Buy Only 1 etc

No tied up money with that method.

I prefer to tie up the money and get very cheap Amex points but each to their own circumstances.

I'm the same too.
However. It's about how much cash is being tied up. You can buy visa 1 cards any time.

I've converted some to wish cards for this promo as I didn t want too much cash tied up

 

[Mr_Orange]

Its buy WISH
Buy Only 1
Redeem DJ card
Use Only 1 to buy WISH
Buy Only 1 etc

No tied up money with that method.

I prefer to tie up the money and get very cheap Amex points but each to their own circumstances.

But the WISH you buy with the V1 needs supplementing since its value is less than $105.95. The DJ can only be redeemed at DJs so you need to be a regular shopper to want to build up a stash (80 cards is $800 of DJ GCs). Factor in the 65c cost of the first WISH and the subsequent 69c short fall each time.........

CBA, I'm afraid.

 

[SOPOOR]

But the WISH you buy with the V1 needs supplementing since its value is less than $105.95. The DJ can only be redeemed at DJs so you need to be a regular shopper to want to build up a stash (80 cards is $800 of DJ GCs). Factor in the 65c cost of the first WISH and the subsequent 69c short fall each time.........

CBA, I'm afraid.

Yes That is pretty much the dj deal. Nothing is for free

 

[andye]

But the WISH you buy with the V1 needs supplementing since its value is less than $105.95. The DJ can only be redeemed at DJs so you need to be a regular shopper to want to build up a stash (80 cards is $800 of DJ GCs). Factor in the 65c cost of the first WISH and the subsequent 69c short fall each time.........

CBA, I'm afraid.

Fair enough but its relatively trivial compared to the $1000s tied up otherwise (I've corrected my post)
Agree that its not possible to technically 'incept' unless you have access to the 10% WISHs of yesteryear (....or is it?)