Obopay is a new payment service by Citibank. The concept behind it is that you should be able to send money to people via SMS. It is powered by a Citibank prepaid debit card-so is does require your SSN, however the SSN is only required for verification purposes-it will not affect your credit score.
Through 11/27 you can fund your account from any Mastercard or Visa for just 1.5%. Withdrawing money to a bank account or from an ATM machine is free. If you know what you are doing and have the right credit cards, you can come out way ahead…
If you have linked a credit card or debit card, or a Bank Deposit, to your Card, you can load up to $300 per day to your Card, but no more than 1 load per week. You may only unload money from your Card to your Bank Deposit, and only up to $200 per day. For security reasons, there may be additional limits on the amount, number, or type of transfers you can make.
What credit cards would you reccomend. Is chase freedom rewards a good one? (you can get 3% on top category.)
Im usualy good with these things, but could you please elaborate
Are you saying you should buy miles – points for 1.5 percent?!
how can i get 2 tickets to israel for 120,000 amex points?
thank you.
what do U mean “know what you are doing”??
Any suggestions on exactly ~how~ to do this? I take it one needs a card where they earn over 1.5% or get great miles… please explain!
“If you know what you are doing and have the right credit cards, you can come out way ahead…”
opening a million accounts? Are you sure it works?
I checked out the Chase card you would only get one percent for this. Perhaps the HSBC weekend card which gives 2% cash back or the Citi 5% cash back cash card would work. Although citi is likely to realize what you are doing and not allow the cash back which they are allowed to do (see their offer details.)
Dan, please address these issues. Thanks
chevra, whats the deal here? shall we do it or not? if so, how? please explain it all in an easy to understand seder. YK
dan could you tell us exactly what to do
B”H
Note — time is running out
**Effective November 27th 2007 the fee for adding money from credit or debit card is 2.5% of the total transaction amount
this would have been a great deal if not for the fine print.
I simply dont think dan saw it.
300 a day, once a week is not so great.
I dont think multiple accounts will work, they ask for ss number, and will quickly catch on.