4 ms·
If you can create arbitrage situations for customers you can generate a decent amount of buzz in certain circles. Off the top of my head one way to do it is to
by jadence 17y ago
If you can create arbitrage situations for customers you can generate a decent amount of buzz in certain circles. Off the top of my head one way to do it is to offer to buy gift cards for more than 95% of their value. Some people have credit cards that give them back 5% on grocery store purchases and many grocery stores sell gift cards. If the folks on FatWallet Finance (http://www.fatwallet.com/forums/finance http://www.fatwallet.com/forums/finance) get wind of it (heck, post it yourself) they'll jump all over it and you've got immediate exposure to hundreds of people. I would set limits though and do it only sporadically lest you end up w/ a huge surplus of gift cards that may take you a while to sell.
To get a sense for the kind of exposure you can get here's a thread from another arbitrage situation (buy dollar coins from the US government at face value, collect credit card rewards/cash back, deposit coins into bank account). These guys went nuts and the US Mint policies were actually changed to combat it. There's an article somewhere from a press conference where the US Mint publicly addressed it but I'm too lazy to dig it up right now.
http://www.fatwallet.com/forums/finance/837472 http://www.fatwallet.com/forums/finance/837472
Also, on occasion people post in the forums questions like "How can I turn $X credit limit into cash." Set up relevant topic alerts (http://www.fatwallet.com/forums/alerts.php http://www.fatwallet.com/forums/alerts.php) and respond by letting them know they can buy gift cards and then convert them into cash on your site.
I'm a regular in that forum so let me know (contact info in profile) if you want any guidance in posting to FatWallet Finance.