Monday, December 24, 2012
Money Monday: Buy & Sell Gift Cards
Gift cards, you either love them or stick them in a drawer. But now, you can sell that unwanted plastic for cold hard cash. 7's Lynn Martinez has more in tonight's Money Monday
WSVN -- Linnie Oliver is a big fan of gift cards.
Linnie Oliver: "I think Sephora would be nice. Victoria's Secret.."
She's also a fan of saving money. That's why she's buying her gift cards at a discount from CouponTrade.com.
Linnie Oliver: "I think this website is fabulous because when else can you get a gift card on sale? Like a full-value, face value gift card on sale for say $50 to Nordstrom for $45 dollars or $40."
On CouponTrade.com people put their unwanted full-value gift cards up for sale at a discount.
Bradley Wasz: "On the Coupon Trade marketplace, the average discount is about 18 percent. It ranges, it goes from 2 percent all the way up to 60 or 70 percent off."
To sell a gift card, sign in and create a free account. Enter the card's retailer, serial number and pin. Put in value of the card, name your price and cash in.
Bradley Wasz: "Coupon Trade is the only site where it's user generated. It's user to user or consumer to consumer and the user is the one who sets the price."
Coupon Trade makes it's profit from card sales, taking 10 percent of the gift card sale price.
Linnie Oliver: "Someone put up a $450 Starbucks gift card for only $400."
There is no fee to buy a gift card. Just browse the site's marketplace and pay with a credit card.
If you get a gift card and want to shop online, you can take advantage of the coupon code database.
Bradley Wasz: "A savvy shopper can buy a discounted gift card and use an online coupon code in the same transaction to maximize their savings."
Once you've bought a card, you can either print it out or wait for the physical card to come in the mail.
Linnie Oliver: "It's a win win. Somebody who likes that store gets a gift card for a discounted price and you walk away with the cash. It goes right to your pay pal account. It's a secure website. It's really amazing."
The most popular cards for resale are Wal-mart, Target, and gas and grocery cards.
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