Recap: Pepper Rewards Warning, Possible Chase Southwest Changes & More

 

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Gerald
Gerald (@guest_1897517)
August 22, 2024 15:14

Interesting that the Pepper Rewards warning article is written by a guy named Pepper.

Xinqing Wang
Xinqing Wang (@guest_1898470)
August 23, 2024 23:37

How do you know that his name is Pepper? Do you know him in person? Thanks.

Dealgamer
Dealgamer (@guest_1897321)
August 22, 2024 10:01

Yeah I definitely wouldn’t buy anything on there that I didn’t plan to either immediately use, or immediately add to a balance, and using the bonus coins asap is wise.

blackbird3150
blackbird3150 (@guest_1897281)
August 22, 2024 09:04

I stayed away from Pepper as I buy my gc from reddit. based on the article it would seem the overall risk is similar but presented differently (e.g. high risk that something will go wrong and you’ll be out expected savings at some point). That being said, reddit is instant cash discount vs. some delayed points scheme that has limited cash out options.

The rates at reddit are much better though, esp if you’re cautious in the beginning and then establish an ongoing relationship with a frequent trader. Eventually, you have enough trade score to radically reduce risk as you no longer need to go first in the trade.

I focus on loadable accounts so the gift card is used instantly and I’ve probably done $15-20k usually min 20% off for amazon, apple, uber, ps/xbox/switch. Rates are better if you’re comfortable using *any* crypto. I use USDC on solana with coinbase. no purchase fees and no fees to move money – which makes the experience just like sending PayPal FF.

Gabriel
Gabriel (@guest_1897304)
August 22, 2024 09:45

sounds sus as hell

Renee
Renee (@guest_1897320)
August 22, 2024 09:59

@blackbird3150, thanks for the information. Where on Reddit do you safely buy GC’s?

Bailey
Bailey (@guest_1897362)
August 22, 2024 11:15

I’m partial to /r/giftcardexchange (I find it grimey Raise separately rebranded as GCX)

Make sure to read the rules though, they all have their own reputation systems/flairs, scam warnings etc.

blackbird3150
blackbird3150 (@guest_1897365)
August 22, 2024 11:18

nowadays i use r/giftcardexchange and avoid r/gctrading given their rep systems. It’s just easier.

I would not characterize it as safely – to be clear. It’s very high risk for high reward imo. As you gain experience you learn ways to mitigate that risk.
Here are some things I’ve learned, for example:

  • I only buy 10 amazon codes at a time as 11+ requires a captcha. And i personally don’t redeem in checkout flow except for the rarest of occasion.
  • Unless purchasing at time of trade, i only buy gc for accounts that are loadable.
  • Stick to payment methods you’re comfortable with. I only do PP & USDC on Solana Crypto, for example. Hard pass for me on Bitcoin (cost) and western union (not instant).
  • I am extremely cautious with accounts that I can’t live without. i.e. totally fine to lose an amazon, target, uber account but not Apple/Google account.
  • Only trade with those with 75+ rep unless the other person is going first (this is critical for newbies as they get screwed all the time)
  • Follow the rules of the sub, all of them, they help – esp requiring comment on the post first.
  • Watch for messages from “subs” not “people” i.e. messages from r/[account name] instead of u/[account name]
  • Stick with low denomination ($5-50) to get started. Don’t jump in buying $500 worth of amazon for 78%.
  • Lastly, and most importantly, no one deal is life changing. There will always be another deal in the next 24-48 hours – don’t leave your risk tolerance “for that one deal”.

I’ve been scammed in this process despite my precautions, but my take home is far far far higher (thousands saved vs. $160 scammed so far). I built up a bucket of reserves from my savings so that i could eat any one loss when they happen.

Renee
Renee (@guest_1897507)
August 22, 2024 14:55

Thank you.

Nitpicker
Nitpicker (@guest_1897346)
August 22, 2024 10:53

If you mean buying from strangers on a reddit thread, I don’t see that as less risky than pepper at all. To each his own

blackbird3150
blackbird3150 (@guest_1897350)
August 22, 2024 10:58

I literally said “similar risk presented differently”. Except that the payoff for “strangers on reddit” is a lot higher and instant.

It’s really about how much, where, and when you absorb risk in the endeavor to get discounted gc. Very much to each their own.

radha
radha (@guest_1897280)
August 22, 2024 09:02

Interesting updates! The Pepper Rewards warning is concerning, but hopefully it’s a temporary glitch. Curious to see if there are any official announcements from Chase about Southwest changes. Thanks for keeping us informed, Doc!