Reselling Gift Cards
Did you know that you can make money off of reselling gift cards? There are various websites that will often sell certain gift cards at a discount. One website that comes to mind is eBay. Ebay sellers such as PaypalDigitalGifts and GiftCardMall will often sell gift cards for a discount. You can often buy these gift cards and resell them on certain websites that can buy them in bulk. People will most often resell gift cards for two reasons. The first is that you can profit off of the gift cards. The second reason is because you can often use a (new) credit card to buy these gift cards to earn cashback and/or sign-up bonuses. Check out my steps below to see how you can make money off of reselling gift cards (from eBay) too!
Step 1: Find a profitable gift card to buy
The first step is to find a desired gift card that you can make a profit off of. There are certain websites that will often post gift cards that goes on sale. I personally use DoctorofCredit.com to find gift cards that are on sale. Please note that profitable gift cards do not go on sale often though! Anyways DoC often have posts such as these ones that describe how much profit you can make off of each gift card. In his example, he points out that you can make $13.64 off of each one you sell. You can make a total of $27.28 since there is a limit of two.
Step 2: Go to a portal
You should go to a portal once you find a good gift card to resell. Certain online websites will offer you cashback for going through their portal. I have a post here describing portals for those that are unfamiliar with them. Let’s say I was buying the gift card from eBay. I would go to CashbackMonitor.com to see which is the best portal to go through. TopCashback seems to be the best option. TCB currently offers 1.25% cashback.
Step 3: Prepare for purchase on eBay
eBay also offers something that is like cashback as well. They have something called the eBay Bucks program. You receive 2% eBay Bucks on each purchase which can be redeemed on an eBay purchase on a later date. I have a post here that describes everything that you need to know about eBay Bucks. The next step is to find a card that gives a decent amount of cashback. Ideally you want to find a card that has 2% cashback or a card that you can get a sign-up bonus off of. Make the purchase once you have the portal, eBay Bucks, and credit card ready.
Step 4: Find a gift card exchange that will buy your gift card
The next step is to find a place to resell your gift card. I often use giftcardgranny.com to find which exchange is the best one to resell my gift cards. Simply send in your gift card and you’ll your payment.
The steps to making money off of gift cards are pretty easy. In summary, just sign up for a credit card and eBay Bucks before you start. Then check out DoctorofCredit.com every so often for profitable gift cards. After you find a profitable gift card, identify the best portal through cashbackmonitor.com. Once you do that you should purchase the gift card. Then find the correct gift card exchange to sell to. Wait a few days and voila you’ve just made some extra cash.
Note: This is not something that can be done consistently. I actually often only resell gift cards once or twice a month. This is probably not something that will consistently be profitable.