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Thread: Optimizing Gift Cards

  1. #1
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    Default Optimizing Gift Cards

    Because there seems to be so few options for accepting payment for Indy shows, and Amazon seems to be the old standby option (but not nearly as convenient as cash) I'd like to start a discussion about everyone's favorite way to optimize gift card payments. I searched and couldn't find one, but if there's an older thread revolving around this lets bump it.

    When I get an Amazon gift card I like to buy practicle things with it, such as toilet paper and shampoo and non-perishible groceries (never what the customer has in mind) But what about when u really need to turn that card into cash??? Has anyone ever bought items that they don't need for the sake or listing them on e-bay or something like that? (In which case it would be smart to research the best selling items on e-bay) Or does anyone know of a good process for selling gift cards for cash??

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    Default Re: Optimizing Gift Cards

    You cannot sell Amazon gift cards they make it impossible. You already listed pretty much all the ways you can use them, either get your everyday necessities or buy something to resell. If you search under eBay in the selling category there is a section called "what's hot" which will give you a good idea. Something to consider though is eBay takes 9% of the selling price + shipping and PayPal reports to the IRS if you have $20,000 in sales + 200 transactions in a given year. You are probably better off with Craigslist in most instances. I would also stick to Apple products because they are hot sellers and you can always meet the person in the Apple store so that they can have someone from the genius bar check out whatever you are selling to put them at ease before you complete the transaction.
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    Senior Member Seductive's Avatar
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    Default Re: Optimizing Gift Cards

    Whatever you do, don't sell it on ebay. I sold a hundred dollar card on there for $99. The guy got it, used its code then told ebay he never received he item. They gave him all his money back. When I complained ebay said, and I quote, "We don't allow giftcards to be sold on our website." Even though they even have a giftcard category, which I put the card under, they claimed I had broken the rules and terms of the user agreement. I say use craigslist and meet in person. But take a body guard and protection because my one friend sold a phone on there, they met in a mall and when my friend took his phone out, the guy punched him in the face, grabbed the phone, and ran.

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    Default Re: Optimizing Gift Cards

    I think Hayden was the one who said that you can use PlasticJungle to sell unused gift cards and get cash for them?


    Quote Originally Posted by Seductive View Post
    My one friend sold a phone on there, they met in a mall and when my friend took his phone out, the guy punched him in the face, grabbed the phone, and ran.
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    Default Re: Optimizing Gift Cards

    Quote Originally Posted by TheBrownFox View Post
    I think Hayden was the one who said that you can use PlasticJungle to sell unused gift cards and get cash for them?
    PlasticJungle stopped buying and selling gift cards as on May 13th They now recommend using CardCash.com to buy, sell, or trade gift cards. You cannot convert Amazon gift cards into cash but you can convert lots of different other types of gift cards to a PayPal cash payment OR an Amazon gift card (in case you want to save up on Amazon to buy a big ticket item to resell). So for example, if you wanted to sell a $30 Victoria's Secret gift card through CardCash they would offer you either $24 to your PayPal or a $25.20 Amazon.com gift card.

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    Default Re: Optimizing Gift Cards

    Worth noting, if you don't add the gift card code to your amazon account right away he can get it refunded, just like he can cancel an order from your wishlist. I just use mine for necessities like dry goods and textbooks. I consider amazon cards to be banked money, not immediately available funds.


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    Default Re: Optimizing Gift Cards

    I accept Amazon Gift Cards, then I save them up. Something always comes up. I've bought an external hard drive, a printer/scanner, LOTS of "work" clothes, games for my man, expensive beauty products, shoes, lighting, a kindle, vitamins, yoga clothes, bras, panties, etc. I can always find something to spend them on. But I like to save some for if something goes wrong with my equipment and I don't want to spend cash.

    The only downside to doing this is, if you're not claiming it as income, you can't claim what you bought with it. So when I bought that printer, I could've claimed it as a business expense had I not bought it with gift cards. But at the time it was worth it to me not to spend the cash on it. So consider that when you're deciding what to buy. Spend cash on deductible items; spend gift cards on non-deductible items like lingerie and shoes (b/c the IRS doesn't allow you to claim that stuff anymore ).

    If you're getting thousands per month though, I can see why finding another option would be best.

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  14. #8
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    Default Re: Optimizing Gift Cards

    Awesome and informative answers, ladies! Thank you!

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