Money Saving Habits

[disneysteve]

Why do you sell them at such a discount?

I've sold mine on ebay, not to the resellers, so I got pretty close to face value. I don't remember specifics but I'd say I generally got within 1-2% of face value. At least once I actually got more than face value. That happens on ebay because folks have various discounts that make that work for them (e.g. 10% off your next ebay purchase).

The wholesalers are in business for the folks who just want quick cash and don't want the hassle of auctioning the cards themselves.

[FLA]

We use them for lots of things, not just big purchases. I regularly buy a Target gift card for a couple hundred dollars and my wife uses it for her regular Target runs for household stuff, cleaning supplies, etc. When it runs out, I buy another one. She also does a lot of sewing and quilting and I buy her JoAnn Fabric cards for that. It's tough to pass up 15% off on top of any sales and coupons. 10% off at Home Depot. 22% off at Olive Garden. 20% off at the movies.

This has absolutely no effect on what anyone else pays since these cards are being sold on the secondary market. The merchant got full price when they were sold originally.

I think you posted this once but can you tell me again where you buy your cards? I've heard of GiftcardGranny

I don't see how this can be interpreted as stolen money. The owner doesn't want the card, sells it at a discount just the same as if he put a physical item on eBay, knowing he is taking a loss but it's on an item he didn't want in the first place.

[Nutria]

I don't see how this can be interpreted as stolen money. The owner doesn't want the card, sells it at a discount just the same as if he put a physical item on eBay, knowing he is taking a loss but it's on an item he didn't want in the first place.

Maybe I'd have a different opinion on dumping GCs for below face value if we were regularly given them from stores that we never shop at.

[disneysteve]

Maybe I'd have a different opinion on dumping GCs for below face value if we were regularly given them from stores that we never shop at.

The wonder of the internet: something that would never work as a business model on a small scale works wonderfully when put on a national platform with millions of users. If I opened a storefront here in town to buy and sell gift cards, I'd probably be broke in a few weeks, but if I involve the entire country, suddenly it isn't hard to have a couple dozen cards in stock for most major retailers.

As I said, I've sold cards that I didn't need or want. I'm sure there are thousands of other people who have done the same. There are currently about 6,500 gift card auctions active on ebay, for example.

[disneysteve]

I think you posted this once but can you tell me again where you buy your cards? I've heard of GiftcardGranny

GiftcardGranny.com is the place to start. That is a shopping site that links you to numerous other sites that actually sell the cards (and buy the cards). So you don't actually get them from GiftcardGranny. I've bought from several of the sites that are listed there and have never had a problem.

You can even set up to receive alerts when certain cards go on sale. And they sometimes run email specials. Just today I got an offer for $10 off a $400 purchase so that would be an extra 2.5% discount on top of the already discounted prices of the cards themselves.

[DaveInPgh]

We use them for lots of things, not just big purchases. I regularly buy a Target gift card for a couple hundred dollars and my wife uses it for her regular Target runs for household stuff, cleaning supplies, etc. When it runs out, I buy another one. She also does a lot of sewing and quilting and I buy her JoAnn Fabric cards for that. It's tough to pass up 15% off on top of any sales and coupons. 10% off at Home Depot. 22% off at Olive Garden. 20% off at the movies.

This has absolutely no effect on what anyone else pays since these cards are being sold on the secondary market. The merchant got full price when they were sold originally.

Years ago I used to buy gift cards on a regular basis for any store we shopped at, providing I could get the discount I was looking for. Back in 2007, I purchased 71 different gift cards with a total net discount of 15.48%.

I dialed it back after I got burned on an auction for a $100 gift card. I don't recall the specific rules for getting refunds for fraud cases, but I think it ended up costing me $20 and my money tied up for a couple weeks or more. The guy was prosecuted and jailed.

It has been awhile since I bought one. The last few times I checked eBay, the discounts just weren't worth it to me.

[Thares1939]

Yes, I mean a new car, to be kept hopefully for 10 years.

Yes you are right. New car should be kept for at least 10 years.

[disneysteve]

I dialed it back after I got burned on an auction for a $100 gift card.

I generally avoid buying cards on ebay for that reason, though I do pick one up now and then.

The established resellers (Cardpool, Raise, Zen, etc.) all fully guarantee their cards to be valid for the advertised amount.

[DaveInPgh]

GiftcardGranny.com is the place to start. That is a shopping site that links you to numerous other sites that actually sell the cards (and buy the cards). So you don't actually get them from GiftcardGranny. I've bought from several of the sites that are listed there and have never had a problem.

I just signed up.

14% off at Walgreens is definitely calling my name. We shop there weekly.