Gift card discounts like free money
Updated On: Jan 14 2013 11:28:33 AM EST
If you've received gift cards you know you'll never use, there's no need to hold on to them. Websites will buy them from you for roughly up to 92 percent of their face value.
If you're in the market to buy some gift cards, the same websites also sell them for a fraction of what they are worth.
One South Florida man has been cashing in other people's disappointing gifts and says every consumer should be doing the same thing.
Barry Rubin has been scouring websites for the past seven years and has developed the "gift card golden touch."
Rubin and his wife, Leslie, say the process is like getting "free money" because the websites don't charge for shipping.
"It's a wonderful idea, it doesn't cost you anything. You're saving money every time you do it," Rubin told Local 10's Jen Herrera. "If I buy a $50 gift card for $45, I pay them $45, they mail it to me."
One of the semi-retired businessman's go-to sites is CardCash, which featured discounted gift cards from up to 150 different companies.
While Rubin swears by his method, he warns that other gift card seekers should be careful to read the conditions.
"Some of them are e-cards that you can only use online, but it will tell you right up front!"
Rubin says the best deal he's gotten so far was spending $400 for a $500 restaurant gift card. He called it $100 of free money.
When it comes to selling your gift cards, Rubin has found most websites will give you anywhere from 80 to 90 cents on the dollar-- some nice pocket change if you were never plan on using it anyways.
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