October 10, 2007

Is it Safe to Buy Used Gift Cards from Other People?

The reality is that buying used gift cards from strangers is fraught with dangers. However, here are some simple tips that you can use to minimize the risk and buy unwanted gift cards at a discount.

  1. Use websites such as eBay to facilitate the transaction. Check the feedback rating of sellers. Stick with sellers that have a very high feedback rating and numerous transactions. eBay provides a buyer protection program.
  2. Pay for gift cards bought over the Internet with a credit card. Most credit cards offer a purchase protection plan.
  3. Check the resale value of unwanted gift card at giftcardnexus.com. Most unused gift cards can be purchased for a 5% to 25% discount depending on the goods and services that the gift card can purchase. Anyone offering a higher discount and for multiple gift cards should be approached with caution. There is a high probability that these individuals are selling “hot gift cards” and need to quickly unload the gift card. Hot gift cards are typically purchased with stolen credit cards and will get disabled when discovered.
  4. Verify the balance of the gift card before purchasing it. This mostly applies with face to face transactions. Recommend to meet at the store, so a sales clerk can verify the balance.
  5. Inspect the gift card for a PIN code that is not revealed. Scammers can sell you the gift card and then use the PIN code with the gift card number for online purchases.

Hopefully, if you follow these tips you will increase your chances of buying used gift cards safely.

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Comment now » | Posted by Alex | Filed under: How To's, Tips

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