Not sure about where you guys live, but grocery stores all around my city are having a deal for Black Friday where you buy $100 worth of gift certificates (they usually have an area with all types of gift certificates like Wal-Mart, LL Bean, iTunes, Best Buy, etc.) ....so you buy $100 worth and they take $20 off your total. I plan to max out my credit card and buy $2,000 worth of a popular gift card spot like Wal-Mart. So the store will give me back $400 which puts me out $1,600 total. Then go on eBay and sell those gift cards. It's crazy, people will pay full price, $100 for a $100 gift card. So I'll recoup my money there. That puts me $400 ahead with maybe 2 hours of work if I count in buying them, setting up the auctions, putting them in envelopes, and mailing them out.
Off your total, not off each gift card. Plus, Ebay charges fees for selling. Not to mention shipping costs. Selling money equivalents is never smart, unless you are a broker. Edit - LOL, what id eBay got a DDoS attack the day you started selling
This is a stupid idea that can only go wrong. Do what you want though and give yourself a $2000 dent just to save 20 bucks.
Please say you were stone cold sober when you thought of this if hate to see you give grn a bad rap this is crazy talk post prof if this idea works Sent from my iPhone using Grasscity Forum mob
It's the same scenario in buying an ounce of weed and re-selling it for profit. By the time you make profit it wouldn't really matter unless you can do it within a 5-7 day period. With this you're also risking fucking yourself over. Idk how many times I've done something similar to this (weed) to make profit and ended up needing THAT cash I spent on weed hoping for profit a few days later. I personally wouldn't risk it and think it's a waste but if you got it down to a science and know for a fact it would work and not back-fire, got for it. Also, the way this type of shit works is all a big hype. You'll only get $20 off the total so you'll have to buy 20 gift cards at $100 each time to make any sort of profit. Imo, its too much of a hassle and just a waste of time.
Bad plan. Whats really gonna end up happening is youll probably end up selling most of those cards at a loss and then be stuck with a massive credit card bill that acrues intrest because you wont be able to pay it all off. Any plan that has you putting up $2000 to make $400 is a bad one.
That's a 20% return in under a month. How is that bad? Most investors earn 10% return ANNUALLY. I have money in treasury bonds...they earn 3%, again, annually.
That is absolutely not true. I only used my credit card for the past 5 years, I never touch cash except for weed, food trucks, or birthday gift money. I buy gift cards (a few of them) every year from Target and different restaurants as xmas presents, it's all with a credit card.
No, the ad says it's $20 off for every $100 you spend in the form of gift cards. Didn't state a limit. Ebay fees are about 3%, shipping costs are the cost of a stamp...luckily, gift cards can just be put in an envelope. How do I know this? I got a $20 Panera gift card last year at christmas from someone. I don't like Panera so I put it on ebay. It sold for $21 and I just sent it in an envelope for 44 cents. edit to add: the original card amount was $20 at Panera
Right. And how much was the card worth. Do you think you'll be the only one trying this, even if you do make a slight profit margin? You gotta admit this idea is not bulletproof, at all.
Just do a quick search on ebay for Wal-Mart or Best Buy or any popular store, even Applebee's and shit. Search for completed listings...they always go for the gift card amount, if not more. I'll give you an example. A $100 Wal-Mart gift card will seldom be sold under $95.
Sorry, I'm pretty stoned and drunk and left out that vital piece of info. Edited the post. It was $20.