DEAL DEAD – MS with Stockpile

I think many of you heard about Stockpile through their Groupon gift card deal.  However, there was actually an MS play that a reader told me about back in late 2017.  It seems at that time, you could fund Stockpile with credit and debit cards like usual.  Well, I don’t know who their payment processor was, but it seems SOME CREDIT CARDS were being recognized as DEBIT CARDS.  For instance, the Citi Double Cash card:

Yes, I paid $.50 to make $220.  However, it’s not as rosy as it sounds.  Because if you tried to pull the money out, they froze your account.  You then had to call up them up and plead to get your money out.   Even then, they may not give you your money back.  I heard some people had to escalate to the BBB and state attorney general to get their money out.  To be “safe,” instead of pulling my money out, I actually put all $11K into an index fund.  I then waited 6 months and pulled my money out.  They gave me a call to verify myself, but had no issues getting my money out.

Since you couldn’t get your money out so quickly, it wasn’t really an MS play.  However, if you had cash that you were going to invest into the market, this was a PERFECT PLAY for that.  I believe someone MS’ed their way to SPG Plat with the RC card.  It also led to someone’s Chase shutdown too, so it wasn’t all roses.