Google Wallet: Dead Already!

RIP, Google Wallet

google-wallet-4

Well that was a fun week! I first wrote about Google Wallet a week ago and how it was going to be a huge points machine for a limited time.

Well that limited time has come to an end.

At some point today, Google made it clear that only the first $250 you send to someone will be fee-free. After that amount, they will levy Paypal-like fees of 2.9% and 30 cents if you use your credit card.

Sending money funded by your bank account will still be free, but that’s not what we’re in this game for! We’re in it for credit card miles and points!

Takeaways

What we can learn from this is that you have to be quick to punch, strike while the iron’s hot, all those inspirational sayings.

When a points-earning method like this comes about, let the pros test it out. That’s what we’re here for, to take the guesswork out of things like this.

In the meantime, get your ducks in a row. For this, you should have:

  1. Signed up for Google Wallet (I was giving out pennies to get you into the program)
  2. Verified your identity – DOB, SSN, etc.
  3. Verified your bank account (so cash could be withdrawn)
  4. Decide which points or miles-earning credit card to use

Once we give the go-ahead, don’t waste time! Do what you have to do to earn your points before things get shut down.

Oh well, it was good while it lasted. I earned several thousand points so I can’t complain. Hopefully, I’ll write again soon about the next great points-earning scheme!

On to the next one…