Did you know that you can buy gift cards at a discount? You can for sure. Thousands of gift cards are given every year and many times the cardholder does not need it. Now what are they doing? They list it for sale on Ebay. Its right, every day you place unnecessary and / or partially used gift cards from all major stores in America up to auction. eBay has several of them added every hour every day. As the gift card market continues to grow, it comes after market sales.
Why would anyone sell a gift card for less than the retail? It must be a scam! No, it does not. While Im sure some of the cards that are for sale stolen, I doubt they are the most cases. There are many legitimate reasons why someone would sell their card to the highest bidder.
The gift cards they received may be in a store that they are not often or maybe not local in their area. If Grandma sends them a 25 dollar gift card to Olive Garden but the closest to the house is an hour away, maybe they are not in a hurry to spend $ 10 in gas to use it. Or maybe they just prefer to eat elsewhere.
Sometimes you only get too many cards at the same store at once. Seven $ 500 merchandise cards for Target as wedding gifts can be more than the happy couple will spend in the store in a year. Perhaps they would be able to use money to save for the prepayment at their dream home. A gift card will not earn them interest.
Many stores offer gift cards as special promotions. Lowes runs ads for a free $ 250 gift card with the purchase of a certain number of shingles (or other items). Perhaps its easier to do it than to issue discounts, or maybe they do it so you have to spend the money in their store - a wise business decision by their side. A free gift card is good but if they already bought all the items they needed for their project, they may be willing to discount the card for cash today. Basically, it comes down to the time value of money. A $ 250 gift card that they will not use for a year or $ 200 in cash today, hmmmm. What would you do?
Another reason is that many companies no longer offer cash contributions. If someone returns an item without a receipt, they only get a product card. Again, if they do not need anything from the deal in the next few months, maybe discounting is a wise choice. If the returned goods due to damage and no longer plan to shop with the dealer, the card really sells their only option.
So there are legitimate reasons for gift cards being auctioned on Ebay. But that does not mean they are always legitimate. One way to protect yourself is to pay the seller with a credit card, so you have some protection in addition to Ebays protection. You can also ask the seller about the cards code on the back and then call the store to verify the remaining amount on the card and the card has not expired. Im only about long-term retailers on eBay but after the holiday season you will find many new sellers who pop up on eBay and want to sell their unused or partially used gift cards. The overwhelming majority of them will be legitimate sellers with valid cards but always take precautionary measures.
Ebays policy states that a seller can only auction a gift card per week and no cards over $ 500 are allowed. So if you check the sellers feedback and make sure they auctioned a card for the same amount last week, it depends on the gift card at a time policy. They have to sell them one at a time, which helps to check the possibility that someone can list a lot of fake cards and then disappear.
I have never had trouble buying discount cards from Ebay. However, Im careful. As soon as I get the card in the mail, I immediately take it to the store and make them scan it to make sure its valid and have the correct amount I paid for it. Never leave feedback for a seller before confirming this.
Enjoy your discount purchase while avoiding the rack bars or shop in the rack and get an even bigger bang for your buck!