Back in April I discovered that Chase was selling Visa gift cards online and temporarily waiving the purchase fee. The beauty of this has been that you could purchase these Visa gift cards online via Chase credit cards. The transaction would post as a purchase and thus you would earn miles or points just like any other purchase. Then all you needed to do was cash out the Visa gift cards.
With a rolling limit of $2,600 in gift cards every 30 days per Chase card rather than per customer, you could effectively repeat this simple process across multiple Chase credit card accounts and score thousands of points every month for nothing more than the cost to cash out the gift cards. For more details checking out this post Follow Up on No Fee Chase Visa Gift Cards
Anyway it appears the gravy train is coming to the end. Via Gary at View from the Wing it sounds as if Chase will stop offering Visa gift cards all-together come September 22nd. One of Gary’s readers sent him their Chase Private Client bank statement which contained a notification that Chase would no longer offer gift cards after 9/22/13.
So if you have been playing the Chase gift card game or have been considering it, it appears your time is running out.