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As I mentioned in my last post Bluebird is the best and easiest way to get into manufactured spending. Why is it the best? Well for many reasons: first, it offers the ability to load via Vanilla Reload Cards. This is great, because you can buy these at CVS Drugstores with a credit card! Second, there are virtually no fees, which makes your points and miles profit margins much larger. Finally, it’s run by American Express and Walmart who have been very lenient with manufactured spending. So, you have a much lower chance of having your Bluebird account closed by manufactured spending than you do with another prepaid company such as Netspend.
|Direct Deposit (Not that this is needed for MS)||$0|
|Add Funds from a Checking Account||$0|
|Add Funds from a Debit Card||$0|
|Add Funds via Walmart||$0|
|Add Funds via VRCs||$0|
|Add Checks via Mobile app or mail||$0|
|Withdraw via ATM with Direct Deposit||$0|
|Withdraw via ATM without Direct Deposit||$2 per transaction|
|Purchases via Card||$0|
|Send, Receive, Request Money||$0|
|Foreign Exchange Fee||$0|
|Total Account Balance||$100,000|
|Total Add Funds Transactions||$100,000 per calendar year|
|Add Funds via Direct Deposit||$100,000 per calendar year|
|Add Funds via Checking Account||$2,000 per calendar month|
|Add Funds via Debit Card||$100 per day, $1,000 per calendar month|
|Add Funds via Cash/VRCs||$1,000 per day, $5,000 per calendar month|
|Add Funds via Check w/ Mobile App||$2,000 per day, $10,000 per calendar month|
|Pay Bills||$10,000 per calendar month|
|ATM Withdrawals||3 ATM Withdrawals per day, $500 per day, $2,000 per month|
Bill pay is my favorite way of liquidating money in Bluebird for many reasons. First of all, it is completely free. Second, it’s very easy. All you have to do is click Bill Pay when you are logged into your account, add your payee, which could be a mortgage, credit card, student loan, or whatever else you need to pay, add your account info and pay it! If Bluebird has your payee on file they will transfer it via ACH which only takes 1-2 business days. If they do not have your payee on file, they will send them a check which takes about 5-10 business days.
This is my favorite liquidation method, because then I simply buy the VRCs with my credit card, load them on to Bluebird, and pay them off with Bluebird. That way you are basically spending the credit card’s money to pay off that credit card, it’s spectacular!
There are a few other methods to liquidate your Bluebird money. You could:
Types of Vanillas
This is a big one for beginners! Make sure you are buying Vanilla Reloads and not another form of Vanilla. There are a few different types of Vanillas, so do make sure you reference the picture above to make sure you buy the correct Vanilla. There are other ways to liquidate the other types of Vanillas that I will cover in another post.
Start small. Don’t immediately buy $5,000 worth of VRCs. Do some research, go to as many local stores as you can to try and find VRCs. Spread out your spending and use multiple credit cards You do not want to be spending $10,000+ at CVS on one credit card or the credit card issuer may get suspicious and possibly close your account. Don’t be disappointed if you get turned down when you try to buy Vanilla Reload Cards with a credit card. This happens A LOT. Make sure to Stay Organized! Organization is key, you do not want to miss a credit card payment or the interest you will/penalty fee will negate the rewards you are earning. The most important thing though, is to have fun. This can be a very profitable and fun hobby, so enjoy it.