Is it possible to save money each month by buying discounted gift cards online? Perhaps, if you learn to not treat them as free money. Also, keep in mind that inventory and discounts on gift cards can vary greatly from one site to another, so you could waste a lot of time searching for the best deal.
You can find a number of sites that can help you find the best deals and save the most money on the specific credit cards you need. You can also sell unused gift cards to some of these sites to get cash.
Discount card sites are listed here but keep in mind that their deals and requirements are constantly changing, and you should carefully weigh the advantages and disadvantages before making any purchase.
Related: The 10 Best Ways to Save Money
- You can save money by purchasing gift cards at a discount, but unless you plan on purchasing in large quantities, the time-to-save ratio isn’t always worth it.
- You might be able to obtain a full credit or cash equivalent at some sites that buy back unused cards.
- Sometimes people will buy discounted gift cards so they can sell them independently to make money.
More than 100 name-brand merchants are available on Giftcards.com, which offers discounts of up to 35%. Occasionally, gift cards can only be redeemed as online gift codes, which means they can only be used with online purchases. USPS shipping for a physical gift card takes about five to nine business days and costs about $2.
Cardpool Besides offering discounts of up to 35% on gift cards, Cardpool’s homepage lists gift cards from major merchants such as Home Depot, Petco, and Best Buy. Both physical and electronic gift cards can be purchased on the site, along with printable electronic gift certificates that can be used online or in-store. The physical cards are delivered by USPS for free.
Foot Locker gift cards were available for discount at Raise.com for as much as 35% off. There are nearly 1,000 name-brand merchants available on Raise, with discounted gift cards. As with Giftcards.com, you can only purchase some gift cards at Raise.com using eGift cards, which means you can only use them online. They also offer physical gift cards and downloadable vouchers. Shipping is free for physical gift cards.
Unlike the other gift card sites described in this article, Raise lets sellers choose their discount.
With CardCash, you can save up to 35% on gift cards from more than 550 merchants. There are both physical and printable gift cards available on the site. Physical gift cards can be ordered by mail, and shipping is free through USPS. Your card should arrive within one to five business days.
The use of gift cards as cash substitutes has been shown to be more freely done than with cash. Gift cards can be used like cash by some, but others will spend more than they would have otherwise.
Returning something you purchased with a gift card poses another problem. You’ll often get your refund in the form of a gift card instead of cash like you would if you’d made the purchase with a credit or debit card.
Time is also something to take into consideration. Even though Starbucks offers a 5% discount, you need to ask yourself if it’s worth the extra trouble to save 75 cents on a $15 gift card. With a 5% discount, you can save more, but even if you buy a $100 gift card with a 5% discount, you’ll only save $5.
The Bottom Line
Card inventories are constantly fluctuating. Buying discounted gift cards isn’t easy since inventories and discounts differ by site.