Bluebird By American Express

So I often talk about Bluebird and this post is intended to let you know what it is.

In short, it’s a mobile online checking account powered by American Express partnered with Wal-Mart. No monthly maintenance and no start-up fees makes it a very lucrative account to help point hackers like you out there.

There is a lot more to the account and you can find much more information here (at American Express’s informational site) but I will keep it short to the most advantageous points.

You can pull money off gift cards to deposit into your Bluebird account. Simply bring your $200 or $500 gift card to Wal-Mart, give the cashier your Bluebird card. Follow these next steps:
1. When he/she asks how much you want to load, tell them the EXACT amount of the gift card.
2. Next, it’ll ask you to confirm the amount on the little credit card processor. Hit accept and swipe your gift card.
3. When it asks for a pin number, it will be by default the last four digits on the gift card.
4. After successfully going through, you will get a receipt from the cashier.
5. Repeat for another gift card.
NOTE: You can only load $1,000 a day and $5,000 a month but I find it pretty tough to approach that $5k/mo threshold.

After the money is in your account, it acts like a checking account so you can pay rent, mortgage, student loans, and just about ANYTHING you can’t normally pay with a credit card. Simply put, you are now enabling the use of your credit card for practically EVERYTHING thus super maximizing rewards.

For example, when the Chase Freedom card has 5x points on categories like supermarkets… purchase two $500 gift cards ($5.95 fee each), bank 5,059.50 points (free one-way short haul flight)… Then go to Wal-mart to deposit the $1,000 in gift cards on to your Bluebird account. Write a check for rent, and voila. Simple.

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