How to save money and make money with gift cards

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Christmas is fast approaching (it's less than two weeks away- eek!).  In the past few years, gift cards have been a thoughtful and welcome addition to give and receive as Christmas presents.  In Canada, now gift cards “won't go bad” because you can sell gift cards.  The retailers were making big bucks on them because they had tiny fineprint that said they could deduct $3 every month or year as an “inactivity fee”.  Now they banned that and your $50 gift card will still be worth $50 five years down the road… unless ofcourse that company goes bankrupt, that is.  But I digress.

Everyone loves receiving gift cards.  But if you get a gift card to a place that you don't even shop at e.g Golf Warehouse or whatever, you don't want it to just look pretty in your wallet and let it go to waste.   If you want to save some money or not let your gift card go to waste, there are some new websites now that let you trade gift cards for full value, sell gift cards and get 85% of the money back, OR buy discounted gift cards.

sell gift cardsThe website to get buy, trade, and sell gift cards based in Canada is:

Card Swap

All you need to so is register and then you can shop around for gift cards.  You can search for the amount of discount available on the gift card (ranges from 10 to 35% off the regular gift card price), or the brand that you're interested in, they're sold in the denomination that the gift card came in.

I was doing a search around and saw Aldo, Nine West, The Source, Aveda, even Molly Maid!

The only drawback is that you can't pick the denomination you want, they're predetermined by the seller.  So if you want to get a discounted Aldo gift card, for example, you can't just buy a $50 one on Card Swap when they only are selling a $75 gift card online.

The U.S. counterpart to Card Swap is:

Plastic Jungle
It has the same premise as Card Swap, and you can even donate your card to charity!
They take credit card or Paypal, and if you're selling, they make sure the buyer pays upfront before they ask you to mail your gift card. Also, shipping is free if you buy! (Ditto for Card Swap)

Are you planning to give gift cards this year?How using this to sell gift cards?

I guess the best way to ensure people get usage out of your gift card is to go with the ones from VISA or Master Card.  Can't go wrong there!

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Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

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