March 30, 2023 8:34 am CDT
MoneysMyLife
SUBSCRIBE
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure
No Result
View All Result
MoneysMyLife
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure
SUBSCRIBE
No Result
View All Result
MoneysMyLife
No Result
View All Result
RebatesMe $30 Bonus RebatesMe $30 Bonus RebatesMe $30 Bonus
ADVERTISEMENT
Home Deals

Secrets To Making Money Churning Discounted Gift Cards

Tony Jay by Tony Jay
October 26, 2022 1:17 am CDT
in Deals
A A
23
gift-cards-bonuses
67
SHARES
1.1k
VIEWS
TwitterFacebook

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Chase Total Checking $200 Bonus Chase Total Checking $200 Bonus Chase Total Checking $200 Bonus
ADVERTISEMENT

There are so many fun ways to use gift cards to make money. Once you read this article, it will open your eyes to an entirely new realm!

*Here are the best gift card choices for 2016

The first step is figuring out where and how to buy gift cards for cheap at discounted rates. Then, I’ll discuss how you can maximize the potential of these discounted gift cards to make and save money. Get ready, this is going to be fun!

*Tip* Retail branded gift cards don’t have purchase fees, but Visa, MasterCard, and American Express Gift Cards all do (~$3.95-$5.95).

Normal Stuff: Buying Discounted Gift Cards In-Store

There are a limited number of ways to save on gift cards in physical brick-and-mortar stores, so I’ll go ahead and list them here. *These options aren’t that fun, but keep reading for the good stuff further on down.

Warehouse clubs (i.e. Costco and Sam’s). Both Costco and Sam’s routinely offers restaurant gift cards and other retailers up to 20% off. The selection of discounted gift cards will be lower than buying online, plus you’ll have to be a member of the club.

Gift Card Promotions. Year round, but more so during the holidays, restaurants very often will promote their gift cards by offering bonuses (like buy a $25 gift card, and they’ll bonus you $5). If you’re looking specifically for a restaurant gift card, go to their website first to see if there’s a promotion going on.

Other retailers will also have similar promotions for spending a minimum amount at their stores, but usually this is only offered during the holidays.

The Fun: Buying Gift Cards Online For Cheap

Going online to purchase gift cards will give you a great deal more options to save money.

Gift Card Exchange Sites (My Favorite). These sites specialize in buying and selling used/unwanted gift cards at discounted rates. Selection and discounts can vary, but I’ll compare their Target gift card pricing for reference.

  • Raise-Great layout and very good selection. Target gift cards up to 3.6% discounted. Get $5 off orders of $75 or more with this link & promo code RAISE75AF. My savings write-up on Raise.com.
  • CardPool-Big selection. Target gift cards up to 3% discounted. I also like that you can get $5 by referring each friend.
  • Gift Card Granny-Gift Card Granny is a Gift Card search site, listing all the gift cards available from other gift card exchange sites. Helps with your search, but I don’t use it because I kept running into real-time availability issues.
  • Others: CardHub, Monster Gift Card, GiftCardBin, Gift Card Monkey, GiftCards.com, GiftCard Zen, ABC Gift Cards.

Ebay (My Second Favorite). You can save big on Ebay because of the auctioning system. Being patient and bidding will potentially give you the biggest savings. “Buy It Now” listings will still give you good discounts, and save you the time of bidding. Check out all the gift cards available on Ebay.

Credit Card Rewards Programs. Rewards and Cash Back credit cards from the major banks all have partnerships with major retailers. When redeeming your rewards, you can get extra value for your gift cards, oftentimes 10% to 25% more than what your card rewards are worth. For example, you can get a $50 Game Stop gift card for $45 of earned cash back with your Discover card.

Using Your Credit Card’s Rewards Categories. For example, credit cards that offer extra rewards at standalone supermarkets. You can buy a variety of gift cards at the supermarket and earn credit card rewards at the same time, which can be anywhere from 2% to 6% depending on your card.

Saving Even More With Your Discounted Gift Cards!

Here’s where the real fun begins! You know how to save money on gift cards, so now what?

Well, the next thing to figure out is how you can maximize savings by buying gift cards with your discounted gift cards!

One of the best ways to save more money is by buying physical gift cards off a gift card exchange site at a discount, and then going to THAT gift card’s store brand to buy A DIFFERENT gift card! For example, you can buy a GameStop gift card discounted online, and then go to Game Stop to buy Amazon gift cards. You do this because you normally may not have any use for a Game Stop gift card, but you found a good deal on them online. It’s an amazing way to save some money with a few steps.

My favorite thing to do is to buy discounted gift cards off a gift card exchange site, and then go to that retailer’s physical store, to buy Visa, American Express, or Amazon gift cards. That way, I can spend on anything I want after saving money on that gift card!

Worse case scenario is you buy a discounted gift card online, and you’re unable to convert that retailer-specific gift card into a Visa, Amex, or Amazon one. Luckily you can always opt to sell it back online at the gift card exchange site, but you’ll lose some money. To help you out, I’ve gathered a list of retailers where people have reported success in upgrading their gift cards into a Visa, American Express, Amazon, or other preferred gift card.

Stores That Let You Buy Gift Cards With Gift Cards

That’s right, use that store’s gift card to buy another retailer’s gift card. While many merchants won’t allow this, success has been confirmed with some below.

*Bear in mind, the reported success with buying alternative gift cards with gift cards in-store is many times based on personal reports. It can depend on a particular store’s policy and whether or not you happen to run into a cashier that knows the policy or not. Regardless, it’s not like you’re trying to scam anyone. The worse that can happen is they say “no”. Many times you may find success by going to a different cashier, or on a different day!

TopCashback bonus TopCashback bonus TopCashback bonus
ADVERTISEMENT
  • Barnes and Noble-Reports say it depends all on the cashier doing the transaction, but your B&N gift card should swipe successfully to buy a different gift card.
  • Best Buy-Use your Best Buy gift card to purchase other gift cards they sell in-store, like Amazon Kindle gift cards that work basically the same as regular Amazon Gift Cards.
  • Bed, Bath & Beyond-Some have even reported being able to buy Visa gift cards in store with their BBB gift card!
  • Game Stop: Works with Shell, Amazon, Starbucks, iTunes, Android, and other good gift cards.
  • Giant Eagle-Works for Amazon, Best Buy, Home Depot, Kohl’s, Sears, Macy’s, Office Max, Shell, Staples, and many other gift cards.
  • Kmart-Sears, Lands’ End, and Kmart are all owned by the same parent company, so all these gift cards can be used interchangeably. You can’t buy American Express gift cards with these, but it should go through for Visa and MasterCard gift cards. Kmart sells a variety of retailer gift cards, restaurant gifts cards, Ebay gift cards, and even Southwest Airlines gift cards.
  • Kroger-Tons of options to buy with your Kroger gift card including Aeropostale, Amazon, Applebee’s, Banana Republic/Gap/Old Navy, Barnes & Noble, Bass Pro Shops, Bath and Body works, Bebe, Bed Bath and Beyond, Best Buy, Blockbuster, Build a Bear, Cabela’s, Claire’s, eBay, ESPN.com, Foot Locker, GameStop, Golfsmith, Home Depot, iTunes, JC Penney, Jiffy Lube, Joann, Kohl’s, Land’s End/Sears/Kmart, Lord & Taylor, Macy’s, Marriott, Marshall’s/TJMaxx/Homegoods, Michael’s, Nordstrom, OfficeMax, Overstock, REI, Restaurants (Applebees, Carraba’s, Chili’s, IHOP, McDonalds, Olive Garden, Outback, Panera Bread, PF Chang’s, Pizza Hut, Red Lobster, Ruby Tuesday, Subway, TGI Friday’s), Shell, Staples, Southwest Airlines, Staples, Target, Toys “R” Us.
  • OfficeMax-Use your OfficeMax gift cards to buy Amazon and Visa gift cards. Mixed reports on success here.
  • Publix-Ton of choices, even gas and Amex gift cards.
  • Safeway-Good reports of success buying third party gift cards here.
  • Sears-Sears has a decent amount of other gift cards you can purchase with a Sears gift card, including Applebees, Macaroni Grill, Outback, Amex, Chili’s, IHop, TGI Fridays, Subway, Ruby Tuesday, Barnes & Noble, Bass Pro Shop, Cracker Barrel, Pizza Hut, Ebay, and more. Technically, you’re not supposed to be able to buy other gift cards with a Sears gift card, but find a cashier willing to run your Sears gift card and chances are it will go through!
  • Target-Choices include Amazon Kindle, Visa, Groupon, and several other retail and restaurant gift cards.
  • Toys “R” Us-Use Toys “R” Us gift cards to buy from their small selection, including Amazon and iTunes gift cards.
  • Wal-Mart/Sam’s Club/Murphy USA-All allow buying other gift cards with Wal-Mart gift cards.

*I wanted to let you know that these popular stores, by policy, won’t let you purchase third party gift cards with their gift cards: Amazon.com (definitely can’t since it’s all done online), CVS, Kohl’s, Home Depot, JC Penny, Lowe’s, and Shoprite.

*Want to get wild? Buy an Ebay gift card(in-store where it’s available) with your discounted gift card, and then purchase more discounted gift cards listed on Ebay. Rinse and repeat. You can imagine how long this journey can become, and how you may not be able to resist continuing on!

*Side note* Once you start getting into this game of using gift cards to make money, your mind starts to wonder how else you can maximize the potential. For example, some suggest going through a shopping portal like Ebates or MrRebates, buy gift cards from partnered retailers, and then go back and buy more gift cards with those gift cards. It’s appealing because you’re getting cash back through those shopping portals and earning rewards on your credit cards. The problem here is, you went through all the trouble and headache, and your gift card purchases may not even earn the cash back because of the terms and conditions of the shopping portal. Furthermore, Visa, MasterCard, and American Express gift cards all have purchase fees if you’re trying to buy these types. What it all comes down to is taking the more straightforward approach, and the approach that leads to a higher likelihood of success.

For me, buying discounted gift cards at online gift card exchange sites with my rewards credit card, and then converting those into an Amazon or other preferred no-fee gift card is a little less hassle and works a great percentage of the time.

READ MORE: See The Best Bank Promotions Here And The Best Investing Promotions Here

Tags: gift cards
Previous Post

Anchor Bank Bonuses, Promotions, Offers: $150, $250, Etc. [WI] – Ended

Next Post

SogoTrade Platform Review & Promotions, Bonuses, Offers

Tony Jay

Tony Jay

I'm all about finding new finance-related promotions and bonuses here at MoneysMyLife. Contact me here.

Recommended For You

New Paramount+ Promo Codes For 1 Month Or 1 Year Free, 50% Or $30 Cash Back

March 30, 2023 7:42 am CDT
Moneysmylife Featured Image Deals

Get a free month trial of Paramount+ when you use a promo code. Looks like they have a new code that works for new and former customers just...

Read more

You Choose, Tito’s Gives Sweepstakes | Win Trip to Austin – Ends 07/15/2023

March 29, 2023 4:17 pm CDT
tito-sweepstakes

Enter the Tito's GIves Sweepstakes for a chance at winning a trip to Austin and other prizes. See details below. About The Contest >>CONTEST LINK ELIGIBILITY: The Promotion...

Read more

DoorDash: Get 10% Bonus Gift Card With $50 or $100 GC Purchase

March 30, 2023 4:02 am CDT
moneysmylife.com featured image deal

DoorDash is offering a 10% bonus gift card when you buy a $50 or $100 DoorDash Gift Card. See below for details. Offer Details >>OFFER LINK (sign up for...

Read more

Kroger & Harris Teeter Stores: 4x Fuel Points On Select Gift Cards – Ends 4/11/23

March 30, 2023 4:03 am CDT
moneysmylife.com featured image deal

Kroger is offering shoppers four times the usual amount of fuel points on certain gift card purchases with the latest digital coupons. The offer includes fixed-value Visa and...

Read more

TopCashback Increased Payout Options: 10% Bonus With Walmart, Target, Grubhub, and More

March 29, 2023 3:34 pm CDT
Moneysmylife Featured Image Deals

TopCashback is offering an extra bonus If you choose to redeem your cash for select gift cards instead of bank or PayPal payments. See details below. Offer Details:...

Read more
Next Post

SogoTrade Platform Review & Promotions, Bonuses, Offers

First Niagara Bank

First Niagara Bank Promotions: $100, $200, $300 Bonuses - Ended

American Express Gift Cards: General Facts To Know

American Express Gift Cards: General Facts To Know

Comments 23

  1. jeff says:
    4 years ago

    yeah agree with comments. I want to buy discounted cards, then sell them for actual cash at a higher price. Where can I do this? I looked at raise.com as suggested and they charge 15% to sell a card!!! Crazy and makes it impossible to make any actual cash. Is there a better site for selling cards that don’t take such a high percentage?

    Loading...
    Reply
  2. JD says:
    5 years ago

    Many stores have disallowed this because of money laundering activities. Also the article is poorly titled and it shows how to save money, not make money.
    “oh but there is cash back rewards!” … still saving money not earning/making any.

    Loading...
    Reply
  3. Benjamin Bond says:
    6 years ago

    I have read that you are not able to buy gift cards with eBay gift cards. Can anyone let me know if they have had success?

    Loading...
    Reply
  4. Ken says:
    6 years ago

    Can you use several smaller Best Buy GCs to buy a single, larger BB GC?

    No way to subscribe to comment replies? Please email me.

    Loading...
    Reply
Next

Leave a Reply Cancel reply

Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.

Your email address will not be published. Required fields are marked *

Chase Business Complete $300 Bonus Chase Business Complete $300 Bonus Chase Business Complete $300 Bonus
ADVERTISEMENT
TD Bank $300 Bonus TD Bank $300 Bonus TD Bank $300 Bonus
ADVERTISEMENT
ADVERTISEMENT
Get new posts by email:

Featured Articles

Featured Chase Image

Chase Total Checking® Account $200 Bonus Offer [Nationwide] – Ends 4/19/2023

March 28, 2023 12:03 pm CDT
Moneysmylife Featured Image Bank Banking Offers

Best Bank Bonuses, Promotions of March 2023

March 30, 2023 3:32 am CDT
Chase Private Client Office

Chase Private Client Up To $3,000 Bonus Offer – Ends 4/19/23

March 21, 2023 11:17 am CDT
TD Bank

Best TD Bank Bonuses, Promotions of March 2023

March 19, 2023 12:47 am CDT
Moneysmylife Featured Image Bank Banking Offers

Best Axos Bank Bonuses, Promotions of March 2023

March 2, 2023 12:05 am CST
Featured Chase Image

Best Chase Bank Bonuses of March 2023 (up to $2000!)

March 20, 2023 2:41 am CDT
BMO Harris Bank

Best BMO Harris Bank Bonuses, Promotions of March 2023

March 2, 2023 12:04 am CST
Moneysmylife Featured Image Cryptocurrency Crypto

Best Cryptocurrency Bonuses, Promotions of March 2023 (Free Bitcoin & More)

March 2, 2023 12:04 am CST
Robo Advisors

Best Robo-Advisor Promotions, Offers of March 2023

March 2, 2023 12:03 am CST
Best Money Transfer Services Intro

Best Money Transfer Service Promotions, Bonuses, Offers of March 2023

March 1, 2023 11:59 pm CST
Brokerage and Investing Promotions from moneysmylife

Best Stock Broker & Investing Promotions, Bonuses of March 2023

March 1, 2023 11:58 pm CST
The Best Referral Deals on moneysmylife

Best Referral Programs, Offers, Deals to Make Money – March 2023

March 1, 2023 11:57 pm CST
U.S. Bank Bonus

U.S. Bank Smartly™ Checking up to $600 Bonus – Ends 4/11/23

March 1, 2023 11:11 pm CST
Best Free Checking Account Offers (No Monthly Fees) of March 2023

Best Free Checking Account Offers (No Monthly Fees) of March 2023

March 1, 2023 10:59 am CST
Moneysmylife Featured Image Investing

J.P. Morgan Self-Directed Investing Up To $700 Bonus – Ends 4/13/23

February 16, 2023 1:55 am CST
Chase Bank

Chase Business Complete℠ Banking $300 Sign-Up Bonus [Nationwide] – Ends 5/18/2023

February 1, 2023 9:01 am CST
M1 Finance

Best M1 Finance Bonuses: $50, $500, $4000, $10000 Offers

February 7, 2023 11:15 pm CST
Bank of America

Bank of America Checking Account $100 Bonus Offer – Ends 6/30/23

January 26, 2023 4:37 am CST
Best Online Mattress Promotions, Offers, Discounts of 2023

Best Online Mattress Promotions, Offers, Discounts of 2023

January 30, 2023 2:16 am CST
Bank of America $100 Checking Bonus Bank of America $100 Checking Bonus Bank of America $100 Checking Bonus
ADVERTISEMENT

Search by Categories

  • Bank Promotions
  • Banking
  • Credit Cards
  • Cryptocurrency Promotions
  • Deals
  • Featured
  • Investing
  • Other
  • Referral Promotions

Latest Articles & Updates

DoorDash

DoorDash Promotions: $20/$30 Sign-Up Bonus, $20 Referral Offer, Promo Codes

March 30, 2023 7:45 am CDT
Moneysmylife Featured Image Deals

New Paramount+ Promo Codes For 1 Month Or 1 Year Free, 50% Or $30 Cash Back

March 30, 2023 7:42 am CDT
Moneysmylife Featured Image Credit Cards

Best Digital Wallets For Spending, Saving, Investing 2023

March 30, 2023 7:00 am CDT
Wells Fargo $300 Everyday Checking Account Bonus – Ends 6/27/2023

Wells Fargo $300 Everyday Checking Account Bonus – Ends 6/27/2023

March 30, 2023 3:21 am CDT
tito-sweepstakes

You Choose, Tito’s Gives Sweepstakes | Win Trip to Austin – Ends 07/15/2023

March 29, 2023 4:17 pm CDT

Newsletter

Get new posts by email:

Recent Articles

Moneysmylife Featured Image Bank Banking Offers

Bank of America Certificate of Deposit (CD) Rates

March 29, 2023 4:13 pm CDT

Moneysmylife Featured Image Bank Banking Offers

TD Bank Certificate of Deposit (CD) Rates

March 29, 2023 4:12 pm CDT

Topics

Categories

Banking Bank Promotions Credit Cards Cryptocurrency Promotions Deals Featured Investing Other Referral Promotions

*Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card and banking companies from which MoneysMyLife.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MoneysMyLife.com does not include all credit card and banking companies or all available credit card and banking offers. This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. This site may be compensated through the bank advertiser Affiliate Program.

© 2022 MoneysMyLife. All rights reserved.

  • About
  • Advertiser Disclosure
  • Disclaimer
  • Privacy
  • Terms
  • Contact
No Result
View All Result
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure

© 2022 MoneysMyLife. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: