Gift Card Granny is a gift card exchange where you can sell a gift card you know you won’t use or buy one that you know you will use. Why would you bother buying one here? Because people who want to unload theirs give up part of its value and you can pick on up for less than it’s actually worth. Discounts vary from day to day and also by the store (Today Walmart gift cards were going for 2% off their face value while lesser known stores were being offered for a better discount.)
I learned about this on a frugal living forum. Several members are chatting about it saying they have used it and that it works. I’m about to test drive it in real life and I’ll report back.
Cards are offered for all kinds of things and can be stacked with other discounts. One member pointed out that she works the CVS rebate game and that CVS gift card offers abound.
I was excited to see that Costco gift cards were on the list but when I clicked through, none were actually available at this time. (If you have a Costco gift card that you’ll never use, have a heart and offer it for sale!)
The site offers more details about the gift card you intend to buy. The ones I considered were actual physical gift cards that would be mailed to our home at no additional charge.
One poster on the frugal living forum said she learned to grab $300-$500 gift cards for QT when they sometimes come up at 8% off to use for gasoline. You can sign up for alerts for the stores you prefer to learn of availability and good discounts.
Since we want to grow the Money Game fund at least 5%, buying a gift card with at least a 5% discount for things you’ll buy anyway (like gas or groceries) is a guaranteed way to do it at least at the lower levels of the game.
For example, you could buy a $100 grocery store gift card for $95 out of the Money Game and then transfer $100 from your grocery budget to the Money Game. Guard your gift card as carefully as you would cash or your credit card. This is your grocery money after all. Your Money Game fund will net slightly more than 5% on $95 in this case.
Wash, rinse and repeat. This alone could carry you through making profits through the first 100 levels or so. It could continue to deliver you a nice power up as you continue to progress through the higher levels.
I’m about to buy my first card and I’ll report on how it goes. Forum members said they haven’t had any problems. They pointed out you need to pay attention to make sure you understand if the card can be used on line, in store or both. Make sure it matches the way you intend to shop.
Have you tried anything like this? I think you can also buy gift cards on eBay for a discount. I’ve just never thought about it until I saw it being discussed on line today. If you have any tips to share, I know people would love to read them.
Level Completed: 137 out of 251
Amount Deposited this month: $1,043.37
Total Balance: $4,190.87
Our Money Game fund has increased 33.2% so far this month.
$7.62 is needed to reach the next level.
Have fun, grow money and level up!