You've exhausted your resources tracking down coupons and you've begged the kid who works the register to give you his employee discount, but you still want to try and knock another 10 percent off the price of that PlayStation 3 you've been eyeballing. Turns out, there's a way! You can save a fortune on your next big purchase—at any store, at any time—with this tip!
With the holidays coming up, we're on a major budget crunch (You can probably tell with post topics like how to get cheap in-flight wi-fi and the one-month crash utilities diet).
So to save money on our up-coming gift-buying splurges, we're going to do what any normal person would do: Buy themselves gift cards!
Yes, I'm buying cards for me to use. But I'm buying them second-hand.
Thanks to its stellar sales and proximity to my house, I tend to do a lot of buying at Kohls. But before I head out this year, I'm going to buy a high-dollar Kohls gift card online—for a fraction of its face value! If I'm able to grab a $200 card for $150, that's like getting an extra 25 percent discount on everything I buy.
Plenty of people are willing to unload their unused gift cards for less than their face value, and there are a handful of online stores that help:
- Plastic Jungle is the most popular card-specific option, letting you sort their offerings by merchant, face value or discount.
- GiftCards.com has a lesser selection, but is worth a try if you're looking for something specific (Anybody buying flowers? They've got a ton of 1-800-Flowers cards right now!)
- GiftCardRescue.com offers you the option to set an email alert for a specific card merchant if you can't find what you're looking for in their inventory.
- Then, of course, there's always trusty eBay. Private sellers list their thanks-but-no-thanks gifted cards and re-gift it to you at a discount from face value.
(Top Image: Flickr user ladybugbkt under license from Creative Commons)
100 DIY Ideas for the 3-Day Weekend
Danielle's Charming, Classic Walk-Up
Good Food to Share 
The Big Book of Small, Cool Spaces 
Apartment Therapy Presents 
The Eight-Step Home Cure 
White Enamel Flatwa...
Party Recipe: Creamy Crawfish Dip
Perfect Summer Cocktail Recipe: Honey Bourbon Lemonade
If you're buying a $200 giftcard for less than its face value there is a very good chance the card was gained through theft. Here is what I mean - ( I work in retail ) Shop lifters will come in and steal merch. Then, generally, they go to another location and return the merch for in-store credit staying under the max return price limit. Now all they need to do is trade the card for what they truly want - cash. So they sell it on ebay etc.
Many stores have tightened up their exchange policy to prevent these types of returns requiring now the original card for purchase, receipt, or even phone number if given.
I suppose what I'm trying to say is - please don't contribute to this system. I'm sure there might be a legitimate high value card out there for cheaper than its worth, but lets not be naive.
@_uncanny
So, you suggest no one should buy gift cards from another person at all, ever, because there is a possibility it was obtained by fraudulent means? That seems a bit extreme.
I have received gift cards to stores I don't like or stores that do no have a presence in my state and sold them for less than the worth.
You can't sell them for the full value, who would want them? The person could purchase them from the retailer at full price.
I don't see anything wrong with the suggestion in the article. I'm sure there are plenty of people who are glad to know about this option.
@Karen302
Uncanny is likely referring to cards w/ high balances. I know as well, from restaurant experience, that there are many high face value cards are obtained through fraud. Be it employee fraud (the most common method I encountered in restaurants), theft & misuse of return for store credit systems, purchased w/ stolen credit cards, or other means. Some guy w/ a $50 Red Lobster GC isn't likely a criminal. But the guy who buys $800 worth of Target girt cards w/ a stolen number and hopes to unload them before they can be backcharged; or the employee who loads up $500 gift cards and sells those before he can be caught, or the lady who steals tons of expensive merchandise from Kohls (shoplifters love their return policy!); these are the people you should not try to give money to. You may not have committed the theft, but supporting thieves isn't any more ethical.
@Unplugged, do you have any tips on how to avoid GC fraud? How do most people verify the cards work, and will work 2 weeks later when they try to use them?
I've seen $100 gift cards sell on eBay for a penny less than face value. I've also seen them sold for a few cents above face value.
Just give cash.
How do you know the card actually has the value stated on it?
So I read about plasticjungle's guarantee.. they guarantee it for 2 weeks.. BUT - what if a seller notes the gift card #, sells it, waits 2 weeks so you are outside of the 2 week PJ guarantee, then uses it on an online order? Seems like if you go this route, you better be sure you'll use the entire thing within 2 weeks of receiving.. .
I know Target gift cards have (or had, it's been awhile since I used one) a number on the back that you can call and check the balance that is different than the one you would enter when making a purchase. So if the seller won't give you that it might be a bad card.