You want cash for gift cards. And you get it! It’s not difficult after all.
However, the challenge comes when you’re looking for optimum returns and the majority of the online platforms want to pay you the lowest.
In that mix, many sellers end up making some basic blunders.
Here are 3 common mistakes people make when selling gift cards for cash:
1. Settling for low offers- A lot of time you will be made small offers for your gift cards. The payout offer would be much less than the face value of the card. Many sellers end up settling for this small amount. In reality, if the offer is really low, you are better off redeeming that card than selling it. So, avoid being okay with the low payout offer. Selling your card in such a case is not worth it.
2. Not finding someone better- There are now many platforms out there where you can get cash for gift cards online. So, if one hasn’t made you an adequate payout offer, you can look at the other one. If even they fail to match your expectations, move on to the next one. There are options. Instead of reluctantly settling for any bad offer, tap on these options to find a good platform with a better offer for your gift cards.
3. Doing it just once- Let’s be honest… You can’t make a lot of money by selling just one or a couple of gift cards. If you’re looking for a bigger sum so that it feels like a substantial “side income”, you’ve got to sell more gift cards. Unfortunately, there are only so many gift cards lying around in your home. This is where flipping comes in. You can flip these cards – buy at low and sell at high – to accumulate a large profit. We have covered this topic in a separate post. Please check out – Flipping Gift Cards: A Simple (And Kickass) Guide.
These are three common mistakes people make when selling gift cards online. Don’t be one of them!
Sure, it’s not a difficult thing. But then when you’re looking for the highest possible returns – which you should – you must be careful of a few things. Steer clear of the above-mentioned mistakes and you would be good to go.