Three months ago I wrote about a great way to pay your bills via gift card.
Buy gift cards, earn bonus miles, and turn them back into cash by using them to pay bills. Read the post if you haven’t already, and then come back.
The major downside is the limited number of vendors you can do this with via the method I discussed.
Yesterday Million Mile Secrets wrote that you didn’t need to buy gift cards first, because the service — Evolve Money — would actually take credit cards.
That they said it needed to be a debit card (and many gift cards work), but that if you entered a credit card number into the site instead of a debit card it would work.
Lots of alarm bells went off for lots of people! Exciting, right?
Well PointChaser explained why this isn’t as exciting as it first appeared. And the truth is that the value proposition in using Evolve Money is still liquidating gift cards.
Quite simply, the set of bills you can pay is quite limited. Most that you can pay with Evolve Money — like utility bills — you can usually pay online on those providers’ websites directly now. And you may even be able to earn category bonuses with your credit card when you do it. In other words, you’re better off paying with a credit card directly rather than going through this Evolve Money (likely unintended) backdoor if you’re going to use a credit card. But liquidating gift cards is still a valuable tool here.
There are some bills you can pay through Evolve Money that you can’t pay directly with a credit card at least at any reasonable fee — like some mortgages.
If your mortgage servicing company is on the list, you might pay via Evolve Money with a credit card saving the hassle of using multiple gift cards and saving the fee for buying those gift cards.
But that’s still a fairly limited improvement, not something revolutionary.
Read the post and understand this method before you use it, but it’s a useful site indeed to add to your repertoire if you haven’t already.