Lesson 5: Glossary

Course Glossary

Amex Offers: These can be found on each of your American Express cards. It’s a rebate that is applied when you use your connected card to pay for a specific deal.

Bulk Buyer: A bulk buyer is someone who buys large quantities of gift cards from individuals and sells to marketplaces or to other businesses.

Capacity: Capacity is the available volume bulk buyers have for different gift cards. This is usually based on how many gift cards market places are willing to buy from them.

Cash-like Product: A cash-like product is a gift card that can be used like cash or credit at any place of business.

Face Value: The actual value of the gift card you’re buying or selling.

Float: Float is the amount of money you have on your credit cards while waiting to get paid from a buyer.

Gift card marketplace: These are places that buy and sell gift cards like Raise and Savya.

Gift card reselling: In the context of travel hacking, gift card reselling is the buying of merchant gift cards on sale to earn miles and points, and then reselling them. This is usually to break even or sometimes to make a small profit.

Minimum spend: This is the amount of money you’re required to spend on a credit card to be eligible for a sign-up bonus.

Organic Spend: Organic spend is using your credit card to pay for regular living expenses.

PPDGs: PayPal Digital Gifts, digital e-cards sold by PayPal, often limited in quantity.

Rate: The amount a bulk buyer or individual buyer is willing to pay for a gift card.

Rebate portal: A site you go through to get points or cashback on top of credit card points

Reservation: Often required by bulk buyers so they can track their capacity.

Scotty Peeler: A tool used to remove labels and stickers from gift cards.

SKU: SKU stands for Stock Keeping Unit. It’s the alphanumerical identifier assigned to a product type to differentiate it from others.

Storage box: Exactly what it sounds like. Used for gift cards since most bulk buyers require you to keep physical cards 6 months to a year.

Third party gift cards: A gift card that is not considered “clean” and has been bought/sold by individuals versus a company.

Tracking: Tracking is the term used when a portal shows that you visited a specific site. The portal usually lists your points or cashback that are pending.  Sometimes those get paid out, but sometimes they don’t if the terms aren’t met.

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