Daniel Gritzer

In today’s digital age, gift cards have become a popular way to show appreciation or celebrate special occasions. However, did you know that gift cards can also be an excellent source of income? Maximizing your profits with gift cards requires a bit of strategy and understanding of the market. In this ultimate guide, we will explore the best ways to make money off gift cards and help you navigate through the complex world of gift card reselling. Whether you’re a seasoned reseller or a beginner, this guide will provide you with valuable insights to help you maximize your profits.

What are gift cards and how do they work?

Gift cards are prepaid cards that can be used to purchase goods or services at a specific store or group of stores.

Why should you consider gift cards as a way to make money?

Gift cards are a great way to make money because they are low-risk, easy to sell, and have a high demand.

How can you find gift cards to sell?

There are many ways to find gift cards to sell, including buying them from friends and family, purchasing them at a discount from online marketplaces or gift card resellers, or even finding them at garage sales or thrift stores.

What are some tips for maximizing profits when selling gift cards?

Some tips for maximizing profits when selling gift cards include knowing the value of the card, setting a fair price, and targeting the right audience.

Are there any risks associated with selling gift cards?

Yes, there are some risks associated with selling gift cards, including fraudulent buyers, chargebacks, and potential legal issues.

Based on user experience, maximizing profits through gift cards can be a lucrative business strategy. By understanding the market and leveraging the right tools, individuals and businesses can increase revenue, attract new customers, and build brand loyalty. With the right strategies in place, gift cards can be a powerful tool for boosting profits and achieving long-term success.

But will you? About 6 percent of all gift cards are never used, according to Anduro Marketing. Rather than losing money, why not sell the card? The market has greatly consolidated in the last year. Most gift card websites now focus on selling cards at a discount or buying in bulk. The two main sites that still buy unwanted gift cards from individuals are Raise and Cardpool and they have very different business models. Cardpool buys cards directly from consumers. Raise lets you list the cards you want to sell on their marketplace. Founded in , Cardpool buys physical and e-gift cards from about major retailers, including clothing and department stores, movie theatres, jewelry and electronics stores, restaurants, pet and auto parts stores, and supermarkets. The process is simple and quick. Just enter the brand, card code and balance. Once that information is verified, Cardpool will make you an offer. There are two payment options Amazon eGift card or a check in the mail. In the next few months, the company plans to offer a few other payment options, such as Venmo, PayPal and Western Union. Cardpool CEO Jones pointed out that the company received some bad reviews last year. The site now has new management, he noted. Raise is a marketplace for selling gift cards. It accepts listings for thousands of major brands for free. You get to set the price. If the card sells, Raise collects the money from the buyer, deducts a 15 percent fee and forwards the balance via check, PayPal Funds or ACH direct deposit. Since Raise acts as the middleman in the transaction, neither the seller nor the buyer should worry about fraud. How much of a discount do you need to offer to get that card to sell? Raise can help you with that. If you want your card to sell in a couple of hours, you might want to be more aggressive with your discount. Otherwise, you could get burned. Remember A thief can drain the money stored on a card even if you have the piece of plastic in your possession if they trick you into giving them the number on that card. Want more tips like these? Sign up for our newsletter and follow us on Facebook , Twitter and Instagram. IE 11 is not supported. For an optimal experience visit our site on another browser. Better Logo. Share this . NBC News Logo. Follow better. Search Search. By Herb Weisbaum. How to tackle post-holiday bills Jan. Good Cents Holiday credit card bills rolling in? Here are 3 things you can do to pay them off. Herb Weisbaum.
Disclosure This post may contain affiliate links, meaning I get a commission if you decide to make a purchase or sign up through my links, at no cost to you. Please read my disclaimer for more info. Gift card trading can be a very lucrative business, that is, if you know how to play your cards right. Heres the only guide youll need on how to buy and sell gift cards for profit. Millions of people still use gift cards for personal shopping every day, and it comes as no surprise. And while consumers love them, retailers consider gift cards an integral part of their business as it pulls people into their stores and encourages them to make more purchases. Offering a gift card from a store you know your friend loves has more impact than handing out hard cash, and is more convenient than having to purchase an item youre not so sure your friend will love. The bottom line is that gift cards are here to stay, and aspiring money-makers can still take advantage of their popularity to make money flipping gift cards one of the most lucrative side hustle ideas if you study how the market works. If youre new to this trading game, sit back and relax. Theres a lot to learn and plenty to take in. What is gift card arbitrage and how exactly do you start gift card flipping? Selling or trading gift cards can be very confusing for those who arent familiar with the practice. In a nutshell, the goal of flipping gift cards is to purchase a gift card for less than its face value and make a profit during reselling. If youre looking to make money online through selling gift cards, its essential to know where to get these cards for free as this will make you the most money. Billions of gift cards remain unused every year, so theres a good chance that you have gift cards in your drawer, purse, or wallet that you have no interest in using. Selling your unwanted gift cards may be the best option as you dont have to spend or lift a finger to acquire them. Credit card companies like to give out reward points that you may exchange with gift cards. If youre a regular credit card user, find out how much points youve currently racked up and how much you need to spend to exchange with gift cards. Some cashback sites award you with points for every online purchase you make. These points may be exchanged for a variety of gift cards that you can sell for profit. Consider these cashback apps if youre looking to sell gift cards. If you prefer the app to your friends and family, youll get even more.