How do gift card resellers make money

While gift card reselling has some great benefits, it also has its risks. If you want to resell gift cards, you need to know how to buy them at a discount. Amex Offers in particular provide some great opportunities. Why would you want to resell gift cards at how do gift card resellers make money same price for which you bought them? Git main reason will be credit card rewards. If you bought them from a grocery store, perhaps you also earned fuel points. Or maybe the store has a loyalty scheme that offers rewards even on gift card purchases e. Best Buy.

Difficult-to-trace funds make cards an easy choice for scammers

There are many ways to work part time and earn a full time income. Now, you may already know that sites exist that will take your unwanted gift cards. Like, if you get a Red Lobster gift card as a holiday gift and you hate seafood, haha. This actually happened to my sister. She hopped on a gift card reselling site and got 90 percent of her card value on an Amazon gift card. Do you ever have someone, a friend or family member that is really hard to gift shop for? What do you do? Get them a gift card. My Dad actually has piles of gift cards unused. For that person in your life, share this article with them. Unwanted gift cards can be sold for a percentage of their value usually percent. This benefits both the gift card reseller site and the seller.

Stores Found on Raise Marketplace

The seller you get to trade in your unwanted card for a card you do want with the cost being sacrificing a small amount of the value to the reseller site. The reseller site wins because they now have a full value card which they obtained at a discount.

Stop #2 – Sears with a BankAmeriDeal

Once I started churning credit cards in order to reduce my expenses and maximize the money I was getting back from my everyday purchases, I started following a lot of blogs and forums related to the subject. To my surprise, I was able to find a few of these opportunities pretty quickly and after double checking my math, I made the purchases. Since the sell prices are known going in and change rather infrequently, the risk I am taking on is relatively low. For the time being, deciding whether or not this business is worth pursuing long-term is still an open question. Fortunately, the start-up cost of this business is next to nothing and I could stop buying tomorrow, sell the rest of my inventory over the next couple of weeks, and walk away completely still having made a little money in the process. Will I still be doing this 6 months or a year from now? Making the operation more efficient is my main goal at this point, but at some point in the future I will take a close look at the time and effort required vs. While the benefits seem great, they come at the cost of time and effort. I am working to reduce the time and effort required when buying and selling, but it will always be a factor. As I increase my efficiency finding and buying cards, the benefits can be maintained or even go up while the time required gets smaller.

Primary Sidebar

For that reason I asked Noah from Money Metagame to write about becoming a bulk seller. He is a newer blogger, but the quality of his content and his knowledge are impressive. I just started in the credit card game about 10 months ago, but after reading up on the topic via various blogs and forums, I dove in head first. Just repeat that for as long as you can find deals. Heck, most of the deals I just linked are just from the past few weeks!

You have Successfully Subscribed!

And this time, without any prompting, she hung makee on. Raise pay allows you to purchase a gift card and send to the recipient of your choice including yourself and receive Raise cash to use toward future gift card purchases. Will gift card exchanges take my really obscure gift card? Even the small savings add up! My husband and I purchased our first home in To use a kiosk you need a government-issued ID, cell phone number, email address and sometimes a credit card number. This eliminates the need to use a credit or debit card and potentially put your personal information in a vulnerable position. When you’re looking at gift card exchange websites check out Cardpool, which offers Amazon gift cards in exchange for cards from retailers you don’t buy. These codes can then be used for online shopping, though most gif will let you rdsellers them in person at the cash register if you have all the required information like the full card number and activation code.

To find the best gift card exchange websites we spent 60 hours using and researching them to figure out which ones give you the largest return on investment along with the best selection and easy-to-use extras.

It has an A from the Better Business Bureau and an app for shopping or selling on the go. There is also the option of cashback when you purchase. Raise has a well-designed gift card exchange website. The layout is clean and modern and it’s clear where to go to buy, sell and earn rewards. The free mobile app has the same feel and is equally easy to use. One thing we really liked about this exchange website is the shopper guarantee. For an entire year from the day you purchase a gift card, Raise will refund your purchase price if the cards if you’ve been waiting for a physical card to arrive, it has an incorrect balance or is just simply not the card you ordered.

This website is easy to use. Retailers are listed alphabetically but you can also search by price, card type, or a multitude of categories. You can then click to see what your options are. A good option for great value gift cards, but sell. With a free app to use on the go and lots of gift card options from dozens of exchange websites and even more retailers, Gift Card Granny has a good selection available, even if this comes in a different form to many of its competitors.

If the cashback option appeals to you, this is a good option with the ability to customise eGifts for sending to loved ones. However, Giftcard granny had offers for over brands, making it one of the most comprehensive sites we looked at. If you are able to find a good deal you should take into account the 45 day guarantee and get spending!

The rates offered by CardCash were higher than most competitors, making them a good option if you want to sell your gift card for as much as possible. The option of PayPal and direct debit payments also mean you can have this money in a matter of days, which is faster than most other gift card exchange companies. The payout for selling a card and the discounts available when buying them seem to fluctuate almost daily.

On the other hand, if there is a high demand for a small number of cards, the discount will be. The gift card market is massive. Physical cards are growing at an annual rate of 6 percent but digital cards are doing the same at a rate of percent, according to CardCash.

Marina Hodges, chair of the Retail Gift Card Association said the group is made up of about 90 members representing retailers, card producers, gift card exchanges and. She said opinions differ by retailer, but most are in support of exchanges. The RGCA was founded inand its goal is to grow and preserve the gift card industry. At the same time, the group recognizes the risks associated with using third-party resellers like gift card exchange websites.

In an official statement on the RGCA website, users are encouraged to educate themselves on gift card exchanges before using one. It has several tips to keep in mind while shopping for gift cards to ensure you’re getting a good deal and avoiding fraud:. If the companies we tested aren’t giving you the results you want, you might want to consider GiftCardBin.

Buying gift cards from GiftCardBin is similar to the other websites we tested. You can search by discount, store, category or your own favorites once you create an account. You can buy electronic or physical gift cards and if you choose the latter you can expect it in the mail within 10 business days. Digital cards will appear in your account within two business days — longer than some promise. You can also get vouchers printable at home and redeemable in-store for certain retailers.

Unlike competitors such as CardCash, who only guarantee for 45 days. Cardpool also gives you the option of being paid in Amazon gift cards: a unique offer among the companies we reviewed.

We particularly liked the Cardpool app, which gives you access to a digital wallet and allows you to buy gift cards on the go; maybe even while waiting in line at checkout. You can pay in-store directly from your phone and get your shop for. Popular stores see lower discounts. Pretty great. The reason we can’t recommend Cardpool is that it has an F rating with the BBB, the lowest rating they. Definitely worth taking into account!

If the companies we tested aren’t giving you the results you want, try Card Kangaroo. This website had an inventory of about 1, cards as of November and has served nearly 59, customers.

You can use this website to buy, sell or trade your unwanted gift cards or simply check the remaining balance of a card you found in your wallet. They accept major credit cards as well as PayPal. If you’re looking to sell cards you simply select the merchant, value of the card and get an offer from the website.

This company is unique in that you’ll receive a shipping label and be asked to mail your gift card in, rather than simply providing the card’s number and other information. If this isn’t too much of a hurdle for you, CardKangaroo is a great gift card swap option. You’ll receive payment via a check in the mail or through PayPal. If you’d rather trade for a different gift card you simply click that option after providing information about the card you no longer want.

Once you’ve picked which gift card you want, you’ll have to ship yours in before getting the one you swapped it for in the mail. Cardpool is unique in that it offers its gift card exchange service through kiosks. These kiosks are usually located inside another store, such as a Target, and you can locate one using Cardpool’s online map search feature.

Once you find a location, simply bring all your unwanted gift cards to that store and swipe them at the machine. You can also exchange electronic gift cards. You can get up to 85 percent of the card’s value at a kiosk, though your return will vary depending on the type of gift card you exchange. The kiosk prompts you to enter your personal information and then offers you cash in return for the cards.

Finally, you collect your money from the store’s service desk or at the kiosk if you have a reloadable Visa gift card. To use a kiosk you need a government-issued ID, cell phone number, email address and sometimes a credit card number. If you are asked to enter credit card information, Cardpool will never charge it without your permission.

However, if the gift card you sell was obtained illegally, you could be charged. If you are used to using Coinstar kiosks you probably noticed some changes in recent years.

Cardpool now owns Coinstar Exchange kiosks, so these machines can also be used for counting your change and giving you cash along with exchanging your unwanted gift cards. These machines are usually green. Gift Card Exchange kiosks are yellow and only work with gift cards. We bought gift cards from leading retailers and found out how much we could get in return for selling. We also checked out how big the discounts were on cards available for purchase from top brands.

When it was an option, we also downloaded the app to make sure it worked as advertised and while the majority of gift cards out there are digital, we also looked at shipping rates for shoppers looking for a physical gift card. The number and variety of retailers you can buy gift cards on exchange websites changes all the time. We then assigned a letter grade corresponding to whether the website had cards available for purchase from those retailers. We also used the Better Business Bureau to make sure these gift card exchange websites are legitimate.

A gift card is essentially like cash you can only spend at a specific store. You use the card until the balance is gone and then discard it, though some retailers allow you to add more money to the card so you can continue spending with it. Not all stores allow you to reload existing cards, and there’s a chance the store could give you a new gift card every time you want to add money.

If a retailer tries to charge you a fee for using a gift card, we recommend using another method of payment or simply shopping. Prepaid cards are designed to be reloadable, and as such, they sometimes carry fees. These cards are often available from credit card companies like Visa and can be used on everyday expenses.

Or, you can avoid this quagmire altogether and opt for a gift card. Some websites deal only in digital gift cards. These codes can then be used for online shopping, though most retailers will let you use them in person at the cash register if you have all the required information like the full card number and activation code.

Another thing to keep in mind when deciding between digital and physical gift cards is how organized you are. If dozens of punch cards and gift cards tend to get lost and forgotten in your wallet, a digital card will be much more useful.

This too depends on the retailer and demand for that card. We found these discounts to usually be a bit more modest. While our tests looked for three well-known gift card retailers across all websites, we acknowledge this is flawed because those cards could reappear or disappear from any site at any time. According to Wallet Hub, Amazon was the most preferred gift card in When you’re looking at gift card exchange websites check out Cardpool, which offers Amazon gift cards in exchange for cards from retailers you don’t buy.

Visa was the second most preferred gift card, followed by Walmart and then Target. Keep this in mind if you’re shopping but don’t know what kind of gift card to get a friend or loved one. These retailers are very popular, so the odds are this card will get used. Amazon knocked Walmart out of the No. You’ve probably seen them at stores like Walmart or CVS.

Usually displayed on large stands, you can oftentimes purchase gift cards from numerous retailers without having to visit the store. These cards usually work for restaurants or businesses that are owned by the same or partner companies. These cards are great if you’re unsure what kind of card to get a person or simply don’t know much about what they like to eat or buy.

Along with more customer choice, these kinds of cards are good because you’re protected in case one store or restaurant closes. They also don’t have any fees. You might feel safe and secure using your debit and credit cards at everyday retailers or big box stores, but some of the largest companies have experienced data breaches that left consumers vulnerable.

11 Best Places To Sell Gift Cards for Cash — How To Exchanging gift cards For paypal money

1. Raise: Best overall

Published on February 15th, by Chuck. Without a doubt, gift card reselling has come a long way over the years. When I started doing this back init was all about Giftcardgranny and comparing which of the large buyers had the best rate: Cardpool, Giftcardzen, Cardcash, or Saveya. Giftcardgranny gave way to Giftcardwiki at some point along the way. Resllers the primary changes were in the profitability of deals and the mediums for selling.

Stops #1, #3, and #5 – Safeway with a Coupon Loaded on My Loyalty Card

The eBay discounts were much better. And we paid makd eBay gift cards purchased at a discount. The medium for selling cards has vastly changed as. Sure, the above-mentioned exchanges are still up and running, but lots of sellers have moved on to private exchanges or private buyers or Raise. Hoow guess some bulk sellers get good rates at those big exchanges? The big exchanges might be good for someone just dipping csrd toes into gift card reselling. Private exchanges can sometimes sell directly to the end buyer and are thus able to pay. With all the negative changes, opportunities abound. Without that, opportunities will undoubtedly be much .