If you are looking for a step-by-step guide to hit the ground running, this FastStart Cheat Sheet to gift card reselling was written for you.
Step 1 – Sign up for at least two portals
Even if you have already signed up for one, consider signing up for another one (or two) to earn sign-up bonuses.
Full disclosure: you will also be buying us a coffee if you sign up using these links since we get a small referral fee (THANK YOU!). Seriously though, there’s nothing worse than hearing about a time sensitive deal, and a portal that is tracking, only to find out that you need to register and get validated.
Cashback Portals we’ve used
Here are some of the rebate portals that we like and use:
TopCashBack: TCB states they “give ALL of the stores commission rate back to you and we don’t charge our members any fees either.” There’s no minimum amount to cash out and the money is available after it goes through the tracking and pending phase. The length of time varies depending on the retailer. Payments can be by ACHto a bank, PayPal, or if you select an Amazon or Amex gift card, you get a small bonus.
eBates: eBates is a shopping portal that offers coupons and cash back from online retailers. Members are paid quarterly via check or PayPal.
Yazing: Yazing is another shopping portal that gives cashback. They also provide coupon codes. They’re in the process of setting up a dashboard. Length of payment varies by retailer. Payment is made via PayPal.
SwagBucks: Offers ways to earn cashback that includes online shopping, taking surveys, playing online games. You can redeem points for gift cards, PayPal Cash, or other rewards.
iBotta: Ibotta has a mobile app so that users can earn cash back in store and with mobile purchases.
Be Frugal: BeFrugal, like some of the other sites, is an online coupon and cashback portal. They guarantee the best coupons and cash back rates.
Step 2 – Sign up for a Raise account.
Whether you choose to work with a buyer or not, you should sign up for at least one marketplace account so you can get your feet wet selling gift cards.
Ed does most of his gift card reselling on Raise, which is an online gift card marketplace where you can buy discount gift cards or sell gift cards for cash. It’s one of the biggest market places. It’s especially known for its 1-year guarantee for gift cards sold on it and its strong customer support.
We would also recommended that you sign up for at least one other marketplace account.
CardCash and Cardpool.
Step 3 – Apply for selling to a bulk buyer.
Currently, we recommend that if you want to sell in bulk, hang out in our Facebook group to find the best deals and sell directly to us using our No Lemon Guarantee (NLG). There are other bulk sellers out there, but sometimes it's difficult to get a reservation for popular deals.
Step 4 – Sign up to email lists of merchants selling gift cards.
Review this section for details. Consider opening a new email account just for this to avoid jamming up your regular inbox.
Step 5 – Decide on your MAXIMUM allowable investment into gift cards.
This is important. Decide how much you want to spend considering the possibility of being unable to sell the gift cards quickly enough before you have to pay your credit card bill. For more details on avoiding such sticky situations, review this page.
Step 6 – Find and analyze your first deal on a gift card
Using the resources in Step 4, find and narrow down the deal that gives you the best mix of price and popularity. You can review ways to research a card in this section.
Step 7 – Buy your first gift card doing a small test first
In fact, do as many small experiments as you need to feel comfortable with the process of buying and keeping track of gift cards before scaling up.
If you need to review how to get the best deal, check out this section.
To make sure you have the basic record keeping tips down, review this section.
Step 8 – Resell your card
If you are reselling to the marketplace, list your card on Raise or other similar sites mentioned in Step 2.
If you are reselling to a bulk buyer, and assuming you have been accepted, be sure to read the instructions since every bulk buyer has their own process.
Step 9 – Keep an eye on your credit card bill
Do not get so caught up that you forget to (or worse, can’t) pay your credit card bills!
Step 10 – Rinse and repeat!
Optional Step: Join The Gift Card Exchange
The Gift Card Exchange is the gift card reselling service we wished was available when we were first getting started. This service will help members find, analyze, optimize, and resell gift cards. We’ll have more information at the end of this course for any one who may be interested. To be clear, you can definitely succeed without joining us, so don’t feel like you have to!