Gift cards are one of the most popular gifts because they are easy to buy and very convenient. The good news is, there are websites where you can buy, sell, and trade gift cards. These sites make it easy to trade or sell gift cards you can’t use or don’t want, or trade several cards to different stores and get a higher priced card from one store. This is an excellent way to save money! You can also buy discounted gift cards from others. The best part is – unlike buying from a stranger on eBay where the only guarantee the card is good comes from the seller, these cards are guaranteed!
Where to Buy and Sell Discounted Gift Cards
Discounted Gift Card Resellers: There are several places to buy or sell gift cards. One of the first that comes to mind is Ebay, but these cards don’t always come with a guarantee. I prefer to avoid any problems, so I only buy gift cards that come with a guarantee.The good news is there are quite a few sites that offer this all-important feature. Some examples include Card Cash and Gift Card Rescue.
You can buy and sell discounted gift cards and gift certificates to several hundred online and brick and mortar retailers from these websites. Some sites also allow you to trade gift cars with others, or exchange them for rewards points or frequent flier miles to your favorite programs. And don’t forget about Amazon gift cards, which are sometimes sold at a discount from face value.
How does it work? The web companies give customers the option of selling, auctioning, or trading their unwanted gift cards. Some sites will even buy them from you, but others only act as a go-between.
Is it safe? Yes. The sites mentioned in this post all guarantee the gift card value (usually capped at a dollar limit). Always be sure to read their FAQ section and other policies.
Who benefits? Everyone. The websites make their money from transaction fees or sales if they buy and resell the cards. Customers benefit by selling or trading unwanted gift cards for something they will use, or by saving money when purchasing the gift cards at a discounted price. The stores win because people use the gift cards. One might argue that the stores would prefer people pay for the gift cards and forget about them, but studies have shown that most people who shop with gift cards end up spending more than the amount of the card.
Is it a good deal? As long as you realize there may be fees involved, yes. You can also get additional cash back on your purchase by using cash back credit cards.
- The sites that purchase cards generally pay between 60-80% of face value. They then resell them for a profit, usually 80-90% of face value.
- Selling and trading fees run from a flat $4 fee, to a percentage based fee, depending on which site you use.
- The sites only charge the seller and not the buyer, so it works out great if you are able to find something you need at a discounted price.
Personally, I would not buy the gift cards to re-gift them. They are pre-owned, and there is no guarantee the cards will not be scratched, folded or otherwise look used! However, if I were in the market for something in particular and I found a discounted card to a store I like, I would be willing to buy the card. Examples of some cards I would buy for personal use include restaurants, clothing stores, electronics, and home improvement. I recently saw several Home Depot gift cards for 10% off. If you are looking to do some home improvements soon, you might want to get a few of those!
The inventory always fluctuates, so check again if you don’t find what you are looking for. After major holidays should be a great time!
Note: We listed sites which offer guarantees, but not all sites are created equal. Be sure to read the fine print before making a purchase. You can never be too careful!
Photo credit: @N3T10