Selling Gift Cards on Ebay

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I have about 50,000 AMEX points that I can convert point-for-point for gift cards to Home Depot, Dell, Lands End, Old Navy, etc. I could also convert them to airline miles.

Or you can spend it at Amazon and they give you 70 cents on the dollar compared to Dell, or Home Depot.

I am thinking about selling these Home Depot Gift Cards on eBay, because I need the cash instead.

Does anyone have any suggestions on how not to get ripped off by a buyer who tries to cancel his paypal payment or some other kind of scam?

One thing I have noticed is that some people are bidding $55 for a $50 HD gift card , same with Dell. What is up with that?? Why would someone pay $55 for a $50 gift card?

I am thinking of waiting a couple of days after PayPal payment before I send the gift card out, and then only to verified addresses. On top of that, I might insist on calling the buyer on the phone to confirm the address and to make sure everything is legit.

Does anyone have experience selling gift cards on eBay? Would like to hear what your experience was.

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I think converting points to miles is the best option. If you can wait for the next British Airways transfer promo, you ... (more)

BankofGreed (Feb. 25, 2013 @ 8:22p) |

the going rate for 52,000 points is $650. I have several offers of that amount, with no fees or deductions.

The only pro... (more)

MitchFlorida (Feb. 26, 2013 @ 3:24a) |

Thank you, Real American Hero.

I know this isn't the Finance section, but just because you can get 650 bucks for the poin... (more)

pthor1231 (Feb. 27, 2013 @ 3:02p) |

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You can reduce a lot of work by just selling your points to rewards2cash or something of the like. The latest rates are $12.6 per 1000 AMEX points

Thanks. I am starting to explore that option. Is it risky at all? Seems like a lot of the companies are fly-by-night. If I can find a good one, I might use that.

American Express sent me a Gold Card Application, with 50,000 free Points if I spend $1000 in three months, so that would be like $650 with 52000 points. I could practically get a free HDTV by spending that much.

I recently sold some StraightTalk refill card and lots of 50 AT&T prepaid sim cards....

This is what I did...
The $30 and $45 cell refill cards were with a BIN and IPR of $1,000.00
With the BEST OFFER option....

I stated the accepted offer on the $30 refill would be would be $29.00

I also stated
Only the $29 offer would be accepted from an eBay user with 10 or more feedback of who has bought from me before.
Other offers would be declined....
For the $45 refill the accepted amount would be $43.00

Similar on the sim cards, all items sold.

And accepting an offer kills the IPR and blocked usage of an eCheck, all buyer paid within hours.


Yes I did have some silly offers of $5.00 and from zero feedback new eBay users.

The purpose of all this was to hand pick the buyer.

Thanks. What does BIN and IPR refer to? What does it mean?

MitchFlorida said:   Thanks. What does BIN and IPR refer to? What does it mean?


Better for you to learn the basic's about eBay/payments before trying the slippy slope of selling gift cards there.

Sorry, my Lordship.

Sorry, my Lordship.

MitchFlorida said:   Sorry, my Lordship.

MitchFlorida said:   Sorry, my Lordship.


No problem..my stuttering friend.

well, I am certainly not your friend. Have a nice day. Remind me not to sell any gift cards to you . . lol

MitchFlorida said:   Thanks. What does BIN and IPR refer to? What does it mean?Buy it now. Immediate payment required.

MitchFlorida said:   Thanks. What does BIN and IPR refer to? What does it mean?


BIN is
Buy it now, no bidding.
IPR, immediate Paypal payment required.....
Clicking on BIN takes you to your Paypal account.
IPR also does not let the buyer use an eCheck (a promise to pay if and when his checks clears)
If BEST OFFER is accepted it kills the IPR which means the buyer may never pay.
However if you pick you buyer his past eBay history will limit that happening if not eliminate it.

Gift cards and refill cards are a very high fraud item.
Both by the seller and buyer.
Buyers can claim the gift card or refill card had nothing on it, (and easily get refunded) and some sellers are selling those.

Well, thank you for the information. I will probably just sell my AMEX points to one of the brokers on the web. I can get 125% percent of the value that way.

yesidonoitall said:   Gift cards and refill cards are a very high fraud item.
Both by the seller and buyer.
Buyers can claim the gift card or refill card had nothing on it, (and easily get refunded) and some sellers are selling those.


What can you do if the buyer claims the card had zero value on it?

MitchFlorida said:   

What can you do if the buyer claims the card had zero value on it?



Kiss your funds goodbye.

respdoc said:   MitchFlorida said:   

What can you do if the buyer claims the card had zero value on it?



Kiss your funds goodbye.



Thats why choosing your buyer is a good idea.

yesidonoitall said:   


Thats why choosing your buyer is a good idea.



You can choose them all you want to...the fact of the matter (chosen or not)...if they say it has "no funds" (and it turns into a claim)...you're 98% sunk.

respdoc said:   yesidonoitall said:   


Thats why choosing your buyer is a good idea.



You can choose them all you want to...the fact of the matter (chosen or not)...if they say it has "no funds" (and it turns into a claim)...you're 98% sunk.


Again
Thats why you pick the buyer and hope for the best.

yesidonoitall said:   

Again
Thats why you pick the buyer and hope for the best.



I "hope for the best" when I enter a FW giveaway.

Applying that same logic to financial transactions...will be costly to you.

respdoc said:   yesidonoitall said:   

Again
Thats why you pick the buyer and hope for the best.



I "hope for the best" when I enter a FW giveaway.

Applying that same logic to financial transactions...will be costly to you.



At least i gave ways to have the op limit his exposure to fraud, what have you provided?
Too many worry about the pennies while letting the dollars fly by.

I never deal with anyone from China. They are all a bunch of thieves online.

yesidonoitall said:   


At least i gave ways to have the op limit his exposure to fraud, what have you provided?


More valuable information than you provided; avoid it in the first place.

It's hard to believe someone with 20 positive ratings would pull a scam like that. You could just print out where the card was spent at.

Anyone could rip off anybody if they had no ethics. Thankfully, most people are honest. Someone could send a shirt to you from J.Crew, just tell them the box was empty or had newspapers in it, if you are a scamster.

99 percent of American consumers are honest, at least in my experience.

MitchFlorida said:   I have about 50,000 AMEX points that I can convert point-for-point for gift cards to Home Depot, Dell, Lands End, Old Navy, etc. I could also convert them to airline miles.

Or you can spend it at Amazon and they give you 70 cents on the dollar compared to Dell, or Home Depot.

I am thinking about selling these Home Depot Gift Cards on eBay, because I need the cash instead.

Does anyone have any suggestions on how not to get ripped off by a buyer who tries to cancel his paypal payment or some other kind of scam?

One thing I have noticed is that some people are bidding $55 for a $50 HD gift card , same with Dell. What is up with that?? Why would someone pay $55 for a $50 gift card?

I am thinking of waiting a couple of days after PayPal payment before I send the gift card out, and then only to verified addresses. On top of that, I might insist on calling the buyer on the phone to confirm the address and to make sure everything is legit.

Does anyone have experience selling gift cards on eBay? Would like to hear what your experience was.




Sell only to GOD and take gold only...

I think converting points to miles is the best option. If you can wait for the next British Airways transfer promo, you can transfer 50K points into a BA frequent flyer program and earn a 30% bonus. That would equal 65K miles. BA miles are best used for redemption on AA for flights within North America, Hawaii or South America. You can search flyertalk for full details.

Or, I would buy them from you for $400.

the going rate for 52,000 points is $650. I have several offers of that amount, with no fees or deductions.

The only problem is, I haven't gotten the points yet. I am going to buy a $900 HDTV probably next month and then will get the points. Net cost to me $250.

MitchFlorida said:   I am thinking about selling these Home Depot Gift Cards on eBay, because I need the cash instead.

MitchFlorida said:   I am going to buy a $900 HDTV probably next month and then will get the points. Net cost to me $250.

Thank you, Real American Hero.

I know this isn't the Finance section, but just because you can get 650 bucks for the points you got from a CC application (and subsequent spending on that card) doesn't make the net cost 250, its still 900 bucks.



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