I take the approach of "when I'll be banned" as opposed to "if I'll be banned for X", so I'll hit all my cards as hard as possible. What we're doing is not sustainable for a money-losing fintech startup. Eventually, BigPay will most likely raise their credit card reload fees to cover interexchange with a slight profit margin, which would cut into our earnings, or limit the credit card load limit to RM1,500 (or a combination of both). There are a handful of people who are clearly doing this with 5+ cards based on their posts, and even more aficionados doing it that don't frequent this forum.

BigPay is the first loophole that I've ever encountered that had such a low barrier to entry. This introduced the concept of credit card abuse to the masses. They have never encountered a hard ban from either the provider of the loophole or the credit card issuer, so they obviously think that they can do what they can within the limits. There's always something in the T&Cs that specify they can suspend your card for some reason. In this case, either for BigPay or credit cards for cashback abuse.

From my experience, I believe the likelihood of being banned is as follows (from highest to lowest)

1. BigPay
2. The credit card
3. The bank account you're depositing to

Point 3 is not a problem if you're smart about it, though.

You are absolutely correct and I have yet to see this mentioned in this thread as a potential downside. I never use my BigPay card to make any purchases if I felt that I had to invoke my retail protection benefits, even if it's an overseas purchase. To be fair, though, most people are not aware of the ancillary benefits of their cards; they mainly look at the rewards earning rate.

I concur with this. Don't hate the player, hate the game.

I do this for all my cards since there's too many to keep track of without the ability to set up spending alerts. There's absolutely no problem doing this. Most of my cards with the exception of one is frozen 99% of the time.

Sure, you can ban my main account and consider this my main one from now on. I'd prefer to post using this one since it's more appropriate.

That wasn't a flame at all. If you look at my post history, it's neutral and informative.

The MCC is correct. It doesn't matter what card you are using; the MCC will be the same. You still get your 2x on the M2Premier VI though.

I do. This is a no-brainer option for those who travel since your IRR is way higher than pure cashback, although I've been focusing more on cashback lately since I have enough miles already.

Did he account for 1.1% interexchange fees for credit card reloads in the calculations? Seems super off for him to claim that BP makes more money than a bank. I think he has anchor bias with respect to the data points on this thread and projecting the assumptions that everyone loads RM5,000 for credit card rewards abuse to the entire BigPay user pool.

Is this just the fee that the card association charges, or is it the card association charges + interexchange fees? If it impacts interexchange, I can foresee the banks reducing their rewards programs.

I strongly believe Mastercard forced them to remove their block on BigPay because a few people have reported them. I personally reported them on their merchant violation form as well. I've found that Visa and Mastercard are quite diligent in resolving merchant violations (especially those involving minimum purchases), although it takes a few months sometimes.

You're better off finding an e-wallet that allows you to reload its value with BigPay and then withdrawing to your bank from there. Boost at the moment is accepting prepaid cards again. There are others with higher limits, but you'll have to do your homework for that. Read the first post if you choose the ATM route.

This post has been edited by BIGPAY ABUSER BENJAMIN: Oct 18 2018, 06:04 PM

This question has gotten me curious enough that I am considering going to AirAsia's next AGM just to ask about their subsidiary's (BigPay) merchant discount rate. I suspect that they negotiate their rates with both Visa and Maybank since they can entice those financial institutions with the promise of huge transaction volume.

Nope, I've been doing it since forever. You're good to go.

This post has been edited by BIGPAY ABUSER BENJAMIN: Oct 30 2018, 11:01 AM

You should just assume you'll get banned eventually or that the credit card reload fees will be hiked eventually to make it unprofitable. As for the limits, there are several people who signed up for a BigPay card for their entire family in order to reload and withdraw RM10,000 without consequences. Most of them do this for cashback and float the balance in high yield liquid accounts to earn interest.

This is great stuff. We should all extend reporting to merchants that impose minimum purchases or discriminate against Visa or Mastercard types. Some merchants reject a Visa Infinite or World Elite Mastercard.

Wow, you have a lot of patience! This happened once to me and I just filed a chargeback for the difference. I don't have the time to deal with incompetent or malicious merchants.