You’ve likely ready our Start Here guide and are ready to start your journey to gift card reselling. This hobby is ever evolving and you will learn more with every deal. That said, below we’ve compiled our top Top 10 Tips & Tricks. If we missed anything or you’d like us to expand on any of these, please let us know in the comments.

1) Stay Up-To-Date On Deals


We’ve got you covered on this one. Visit us here every day or check out the subscribe page to see all the way we make it easy to stay up-to-date on every gift card reselling.

It is also important to know that certain retailers release their new deals at certain times. For example, gift card mall will typically post their new deals at 10 am ET and/or 1am ET. MyGiftCardsPlus, on the other hand, will typically post their new deals at 12pm ET. You will only learn these details with time and experience but we also post every deal from these sites here on the website.

 

2) Stay Organized


In this hobby, there are often a handful of brands that will have multiple deals at once or multiple deals within a short timeframe. It’s important to stay organized so you can remember whether that Home Depot Gift Card was from MyGiftCardsPlus or PayPal Digital Gifts. And did you list that card already? And what marketplace did you list it on? You can see how all the details can quickly be lost if you don’t stay organized.

The important details to keep track of include:

  • Acquisition Date
  • Acquisition Merchant
  • Face Value
  • Purchase Price
  • Gift Card Number
  • Gift Card Pin
  • Physical or e-Gift Card (optional)
  • Divestiture Date
  • Divestiture Marketplace
  • Credit Card Used (optional)
  • Payment Received – Yes / No

 

3) Set A Goal


There are many potential goals to gift card reselling. You can resell for pure profit and use a cashback card like the Citi DoubleCash or you can try to achieve elite status (airline or hotel) using cards like the AmEx Delta Cards, Hilton Cards or Marriott Cards. Whatever your goal is, setting a goal gives you something to reach for and make all the time and effort spent reselling gift cards worth it.

 

4) Know Your Limits


By applying selling to multiple marketplaces, you can open yourself up to potentially better rates (as discussed here). That said, if you (eventually) have very high volume and/or plan to resell your gift cards on one platform for whatever reason, you should apply to become a bulk gift card seller.

For your credit cards, it’s also important that your appropriately age your spending patterns. What does that mean? When you receive a new credit card, the issuer is not going to want you to spend to the limit in the first month. You should plan to slowly ramp up your spend over many months so the issuer has confidence in your ability to repay your bill.

Note: By spending these large amount on your credit cards, you may get shut down by your issuer if they fear you of breakout risk (i.e. spending a lot of money quickly and not repaying it). This is an inherent risk of gift card reselling or manufactured spending in general.

 

5) Manage Your Inventory


When purchasing gift cards, it’s important to know how much you can realistically liquidate. In most circumstances, you don’t want to be sitting on thousands of dollars of gift cards that will take months to sell. It’s also worth noting that if you are part of multiple marketplaces, you will be able to liquidate more (should be obvious but is often overlooked).

Some marketplaces will also require you to keep the physical or digital gift card you sell to them for a specified period before disposing of them. These time periods can range from 1 month all the way up to a year. We keep folders (email for digital cards & actual folders for physical cards) labeled with the month and year in which the card was sold. That way, we can quickly know which cards can be disposed of each month.

 

6) Manage Your Cash Flow


The entire goal of gift card reselling is to be at least breakeven. So, we need to give ourselves as much time as possible to (1) buy our gift cards, (2) re-sell them and (3) pay off our credit card bill.

For most credit card companies, you will have at least 21 days after you receive your credit card statement to pay your bill. For example, if your credit card statement closed on January 31 then you should have until at least until February 21 to pay your bill. Why is this important? Because if you buy a gift card on January 1, you have 51 days to re-sell that card and receive your payment. This allows you to be either aggressive with the price you want to re-sell it for (hopefully for a profit) or price it to sell quickly (likely at breakeven or a loss).

 

7) Have Multiple Avenues To Divest


If you limit yourself to selling on one marketplace (lets use Raise as an example), what are you going to do if Raise doesn’t accept the brand you want to resell? Lose out on volume! When you diversify and add a second (or third or fourth) marketplace to your rotation, not only do you allow yourself to be open to more deals, you also open yourself up to potentially better rates (click here).

 

8) Become A Bulk Gift Card Seller


By applying selling to multiple marketplaces, you can open yourself up to potentially better rates (as discussed here). That said, if you (eventually) have very high volume and/or plan to resell your gift cards on one platform for whatever reason, you should apply to become a bulk gift card seller.

 

What are the benefits of being a bulk seller?

Bulk sellers typically receive (1) better rates (2) faster payment and (3) access to “unlistable” brands. While we can’t give all the details of the programs we are a part of, we can say that the rates are considerably better and allow us to dramatically increase our volumes.

 

How do I become a bulk reseller?

It depends on the website and the program. Some programs just require you to sign up and provide your details. Other programs have a test period where they will give you reduced rates but you need to resell $X of gift cards in a set period in order to maintain the lower rate. It’s similar to fast-track status on airline or hotel status if you’re familiar.

 

9) Sign Up For Card-Linked Programs & Fuel Points Programs


In an ideal world, we would be able to buy a gift card for 80% of face value and resell it for 100% of face value. Unfortunately, it never works out that way. That said, there are many times we are able to resell cards at break-even while also earning extra airline miles, credit card points or fuel points for essentially nothing.

Click Here For Complete Guides On Card-Linked Programs

Click Here For Complete Guides On Fuel Points Programs

 

10) Let Us Know Your Questions


You can email us here, tweet us or leave a comment and we will get back to you, guaranteed. No question is a dumb question. We’re here to be a tool for you so please let us know how we can help.

Advanced Guide To Gift Card Reselling: Top 10 Tips & Tricks - Gift Card Report
Start Here Advanced Guide To Gift Card Reselling: Top 10 Tips & Tricks