At Daily Steals, we are always on the hunt for great deals in technology, audio, apparel, cell phones and all sorts of other products to bring to our customers. In our Money Savings Ideas blogs, we search for other ways our readers can save money using the Internet, websites and phone apps. Here is a great idea to use gift cards to pay less on things you buy every day.
Gift Cards Are Money
Do you have gift cards lying around? Most of us get gift cards for the holiday or our birthdays, for stores we never use. Maybe there isn’t one in the area, or it’s just not a place we like. We’ve found a great way to turn those unwanted gift cards into cash. That’s just the beginning, though. Keep reading for our major key tip on using the same site to save money!
CardCash (www.cardcash.com) is a gift card exchange site. You can buy and sell gift cards from hundreds of different stores and brands. If you have gift cards lying around, you can visit cardcash.com, click “Sell,” and enter the brand and value of the gift card you’re looking to sell. In a few seconds, you’ll have an offer for your card.
Sell Vs. Trade
The initial offer is for cash. If you accept and want to sell your card, you will be given information on how to send the card to CardCash for verification. Once it’s received, they’ll send you payment for your card via PayPal.
You’ll also receive a trade offer. If you trade your gift card for another company’s card, you will get a greater value for your card. When I tested it out while writing this article, the trade offer was 11% higher. This way, you can turn in cards you don’t use for ones that you will, wasted money becomes real cash.
The Power of Arbitrage
The real money-saving power of CardCash is buying and using their gift cards. Let’s say that you love Dunkin’ Donuts and get your cup of joe before heading to work every morning.
If you log into CardCash, they are currently selling Dunkin’ Donuts gift cards for 21.3% off. This means you can purchase a $100 gift card for $78.70. That difference between what you pay and what the gift card is actually worth is called arbitrage.
Think of it this way: you’re buying something worth $100 for $78.70. You then get $100 worth of coffee and donuts. At a time when 1% is considered a high-yield savings account, if you can save 21.3% on your morning coffee every day, it adds up in a big way.
Hundreds of Different Brands
The value you’ll pay for different gift cards will vary widely, based on the demand and ease of use for different cards. You won’t see great prices on Amazon gift cards, or gas cards, that can be used pretty much anywhere.
For regional brands, and stores that tend to be given out as gifts very often, there are lots of cards available, which means the savings can be significant. Visit www.cardcash.com and search through the listing to find your favorites.
Physical and Virtual Cards
When buying gift cards, watch for physical cards and virtual cards. Physical cards are plastic that’s mailed to you when purchased. Virtual cards are emailed, generally minutes after purchase. While there is no cost difference between the two cards, it can make the difference in having a card for the shopping trip you’re leaving for now, or having to wait until the weekend.
Saving Money With Gift Cards
As a gift card exchange website, CardCash creates an amazing opportunity to save money by purchasing gift cards to stores you use at a price much lower than the value of the card. Loading up on cards for stuff you use everyday, or buying cards in advance of that next shopping trip, can help your money go much further.