Reselling Gift Cards for Profit

Ok, so today is going to be a little bit complicated, but bear with me here, it’s worth it.

Today was the first day I’ve actually resold gift cards to earn money. I’ve heard about it pretty often, but have never had the need/ have never jumped on it quickly enough to do it. Let’s start from the beginning:

Whenever you get an American Express card, the card will update with different offers meant to save you money (really, it’s in order get you to spend money on your Amex, but that’s splitting hairs). These offers can rang from amazing to meh, but two days ago, American Express came out with an offer that looked like this: Spend $200 at Neiman Marcus, get a $50 statement credit. At first glance, that doesn’t seem so great, right? I mean, the discount is nice, but nothing to write home about.

If you have multiple American Express cards, there’s a chance that the offer is available on each card. In order to add it to each card, you have to first open a duplicate tab for every card. You then add the offer to each card on each tab without reloading the webpage. The reason for this is that American Express likes to limit you to one offer per account, rather than card. This trick gets around that and lets you do it for each one.

So after loading that offer to my 6 different cards, I strolled on over to the Neiman Marcus website. Not much I’d like to purchase except a nifty $200 gift card. Why? Because I can resell this gift card to a 3rd party reseller and earn myself both points and cash in the process.

After purchasing $1200 worth of gift cards, I went over to giftcardgranny.com in order to find out which website would pay me the most money for my gift card.

It turns out that cardpool.com would instantly pay me $170 for my $200 gift card. Since I paid only $150 per card (after my $50 statement credit), this means I’ll earn $20 and 150 American Express points per card.

I know, I know, this doesn’t sound like a ton. But for just a few minutes worth of effort, I’ve earned $120 and 900 American Express points, which is worth around $20. Since I’m rocking that job free life, every little bit counts.

Most people use gift card reselling in order to meet spending requirements. I’ve never done that personally, but I can see the appeal. Perhaps one day, when I can’t make the spend on my own, I’ll try it out. Until then, free money is where it’s at!

-Carissa the less poor