If you’re a good shopper then you wait for the great deals to buy something and you use some type of credit card to pay for your item so you can earn points or cashback. However, what about one extra step in using gift cards? If you buy a discounted gift card using your credit card then you’ll still get your cash back or your points, but you’ll save even more when you pay a discount on that gift card.
So how does this all work? Can you really get legitimate giftcards for a discount? Why would anyone want to sell a gift card for a discount anyway? All of these are great questions so let’s try to figure it out.
Where should I buy discounted gift cards?
If you’re looking to buy a giftcard to somewhere, like lowes for example, then you might head to Lowe’s or their website to find gift card. However, most of the time you’re not going to find a discounted gift card for Lowe’s at Lowe’s. You’re more likely to find it somewhere else, anywhere else really. That’s because as a general rule you shouldn’t expect retailers to mark down their own gift cards. They usually don’t do that.
I will say though that the exception to this rule usually comes from restaurants. I just recently bought a $100 gift card to Grimaldi’s for only $50. That’s a huge 50% savings! I will admit, it’s something I had never seen before, but nevertheless it does happen. So if you’re trying to find discounted gift cards to restaurants it doesn’t hurt to check the actual restaurant itself.
In order for me to get the Grimaldi’s $100 gift card for only $50 I had to be on their program email list. I had signed up a few years ago to their email list because they offered a birthday freebie. I would get emailed a free pizza for the week of my birthday. That’s really why I initially signed up for their program. They also send me coupons every now and then which is great. But this is how I was informed of the $100 gift card they were going to sell me for $50. I had no problem taking advantage of that deal.
For a Lowe’s gift card though I have never bought a discounted one from Lowe’s. I did buy a $100 Lowe’s gift card recently from the Staples website. They had it advertised as a promo for $90. 10% off a Lowe’s gift card is a pretty good deal.
Buying gift cards from the reseller market
One thing is for sure, and it is that companies love it when you buy their gift cards. Why? Because they have already made the sale in their books, and you haven’t even taken anything from them yet. They don’t mind that at all, and actually they prefer it, because you may not ever use your gift card.
It might be hard to believe, but companies make a boat load out of unused gift card money. People lose them, people forget they even have them. Don’t be one of those people. If you aren’t going to be diligent about keeping tabs with your gift cards then you might as well not get any because those savings won’t matter if you never use the card.
That being said, there is a place where you an buy and sell “used” gift cards. Just do a simple google search for “buy gift card” and you’ll find all the top places on the first page. You’ll see raise.com, cardcash.com, and cardpool.com just to name a few.
How much can you save at these places? You’ll find gift cards selling for between 5% to 40% off the actual value of the card. It will depend on the type of gift card you’re trying to get. For example, an amazon gift card will not be discounted as much as a TGI Fridays gift card. That’s simply because there is a lot more demand for the Amazon gift card.
Some gift card buying tips
Really, you now have most of the info about buying gift cards. The key is to shop around for the best price and buying it when it’s a good deal. If you get familiar with gift card prices you’ll notice that getting an Amazon gift card for more than 15% off the actual value is difficult to find, so if you find one and you need it go for it.
The other thing you need to remember is that you should be a bit more cautious when you’re buying a gift card from somewhere other than the actual retailer. Most of the reseller sites have guarantees to help you shop with confidence, but you should do your own investigating before making any buying decisions.
Shop around
Don’t fall in love with just one place to get all your gift cards. Shop around, because the cheapest gift card isn’t always going to be at the same place. Also, the more you shop around the better idea you’ll have of what certain gift cards go for. Plus, don’t forget the 5% to 40% off guideline.
If you find a gift card that is 30% off the actual value then more than likely it’s a great deal and you should go for it. If you’re planning to use the gift card almost immediately then it’s an immediate 30% in savings. Just don’t go buying up gift cards left and right and forget to use them. As long as you use them, and fairly quickly, then buying them is a good “investment”. Otherwise, there’s’ better places to put your money than into a gift card.