Earning 5x Aeroplan miles is back on Ebay (with the potential of making a profit)

In promotion for black friday weekend, Aeroplan Estore is offering 5x miles on Ebay Canada until December 3, 2013.  They have done this before and last time I explained how to get 5x Aeroplan miles for purchases through the Aeroplan Estore.  That’s pretty easy.  Buy whatever you want and get 5x Aeroplan miles.

Before you could double dip Ebay by first purchasing Ebay gift cards at the grocery store and then using the gift cards for your Ebay purchases.  However, Ebay seems to have stopped selling gift cards at retail locations.

So, although you cannot double dip anymore, you can still buy specific discounted gift cards on Ebay to get the 5x Aeroplan miles and then liquidate the gift cards.  In the end, the math works that you can even make a profit depending on which credit card you use.  For example, your Barclay Arrival card would earn you an additional 2x.  The Discover card should earn you an additional 5x for online shopping this quarter.  The caveat is that there obviously is risk and the process takes some time.  You have to decide if it is worth it to you.

To not just completely give this way, I am going to call the discounted gift cards you must purchase through Ebay to be “The Store” gift cards.  There are enough hints here to where most of you can figure out what “The Store” is.

Here are the details:

1. Make sure you have an Aeroplan account.  If you don’t, you can signup here.
2. Clear all the cookies from your computer to ensure your visit to Ebay is tracked appropriately.
3. Go to the Aeroplan Estore and login
4. Find and click on Ebay
5. Click on “Shop Now”
6. Notice that you will be taken to the Ebay Canada site.  However, it does not matter whether it’s the Canadian or USA site.  You can still buy any item from anywhere in the world.
7. Find $500 “The Store” gift cards.  These usually sell for $485 (3% discount).  They go very quickly and so you must purchase very quickly.  Also, sellers of these cards usually ship them almost a month later to avoid people trying to dispute the transaction for any reason.  That’s a risk that you are taking.
8. Use the “Buy It Now” button on Ebay to buy your item
9. Go through Paypal and pay with your point earning credit card.
10. When you finally receive “The Store” giftcards, go to the online website of “The Store” and buy $200 Visa gift cards which sell for $206.88 with “The Store” giftcards.  Yes, this is allowed.
11. When you get the Visa gift cards, take them back to “The Store” and load them onto your bluebird by using the self automated kiosk.  There should be no fee for that.
12. Use Bluebird to pay bills etc.

For example, let’s say you buy $1000 worth of gift cards for $970 (3% discount) and then use them to buy five $200 Visa gift cards

• $970 * 5x Aeroplan miles = 4850 Aeroplan miles
• Value of the gift cards =  $1000
• $1000 (value) – $970 (what you paid) = $30 profit
• If using Barclays Arrival card = 1940 Barclay points worth ~ $19.40
  
• Fees paid for the 5 Visa gift cards= $6.88 * 5 = $34.4
• Profit made: $19.40 +$30 – $34.40 = $15

End result: Profit of $15 and 4850 Aeroplan miles, not too bad

Cautions and notes:

1. This promotion is time limited.
2. Buying gift cards through Ebay is a risk.  Do so at your own judgment.
3. Another risk is Aeroplan miles not posting appropriately to your account.
4. Shopping through the Aeroplan portal is best with “Buy It Now” Ebay items only
5. The process takes time, so you will likely have to “float” some money for a bit.

I have done this in the past with good success.  Will you be trying this out?