Every day, millions of people buy gift cards from various businesses such as Wal-Mart. If you do not already know, gift cards are as good as cash when they are being used at the store where they are purchased. For example, if you would like to gift someone a Wal-Mart gift card, you would go to Wal-Mart and purchase a gift card in the amount of your choice from the service desk. However, this is not the most efficient way to buy a gift card! A little know fact is that you can get gift cards for much less than they are worth!
Now, you aren’t going to get a $500.00 card for 10.00 dollars or anything like that, but you might just find that you could save forty to fifty dollars by buying the gift card from someone else. The best way to go about doing this is to browse the Internet and find a site that lets people sell second hand gift cards to the public. For example, lets say someone gives me a gift card to Wal-Mart for Christmas. So now I have my $100.00 gift card from Wal-Mart, but what I really want is a brand new Guitar from Guitar Center. Well unfortunately I cannot go to Wal-Mart and cash my card in for cold hard cash. So what are my options? Well I can go to online auction sites or sites that specialize in selling gift cards and sell it to someone. Most likely I am not going to get face value for my card, but at least I will get 80-90 bucks in cash from it. This is where you, the buyer can benefit. If you are lucky, and you come along at the right time, you could potentially buy the gift card for 10-20% off! How awesome is that!
This can be a great money saving technique when it comes to buying gift cards for friends and family. However, the true power in this is buying the gift card for your ever day needs, such as groceries. If you already spend a few hundred bucks a week on groceries for a large family then you can really benefit. As the price of the gift card goes higher and higher, the larger the saving will become. Many times have $500.00 gift cards gone for between $440-470.00, that is some awesome saving. This “Gift Card Arbitrage” is a great way to save a little extra money each month, or save some cash when buying a gift for that special someone.