While most people focus on selling their unwanted gift cards, buying discounted gift cards can be a great way to save money on your personal and household shopping. Depending on the store, you can find gift cards discounted by 3-15%, with some cards discounted as much as 30%.
Now you can purchase these cards as presents, however these cards can also be used to save money on your day to day shopping needs. For example, you purchase a Target gift card for 10% off its face value and use the card to go shopping. By using the discounted gift card, you just gave yourself a 10% discount on your purchases.
What to know more? Here’s some additional tips on using discount gift cards in your everyday life.
The 411 on Discount Gift Cards
- Buy Your Gift Card from a Reputable Site. There’s hundreds of sites selling discount gift cards online, however it’s best to shop for you gift cards at sites with buyer protection policies. TBF editors recommend Plastic Jungle, Gift Card Rescue, or Cardpool because these are site that have strong buyer protection polices and/or we’ve used them ourselves.
- Focus on Cards to Your Favorite Stores. Purchase gift cards only for the stores you shop frequently like like Target, Home Depot, Wal-Mart, etc. You’re more likely to use a card for a store you frequent.
- Combine Gift Cards with Coupons. Use mobile or regular coupons with your gift cards for even more savings. For example on a site like Plastic Jungle, you can find Macy’s gift cards for up to 11% off their face value. Combine this discounted gift card with one of Macy’s famous coupons (usually 15-25%) off and you could save up to an additional 30% off your purchase. This works particularly well with grocery coupons.
- Check the Fine Print. Some gift cards charge fees if the gift card is old (usually +6 months), was purchased in a different state, or used a sister store. Furthermore so gift card exchanges may add additional fees, like shipping and handling charges that wipe out the savings you receive from buying the discounted gift card.
- Avoid Auction sites. Purchasing gift cards on eBay might seems like a good idea, however you run the high risk of the gift card either being invalid or the value being less than advertise. Gift Card exchange sites, especially the ones we’ve listed, check with the store to make sure the card and the value of the card are correct. Also these sites offer buyer protection from someone using the redemption number online.
- Compare Prices. Before purchasing your gift card, check with the other sites to see whether not they offer a better deal, ie card at a higher percentage off. Also make sure the site offers a free shipping method so you avoid any additional fees.