What do you do with gift certificates you don’t want? Or how to you get gift certificates and coupons at a discount?
One of the things in my find or make an extra $100 a day challenge has been looking at my gift certificates. I have a few from my birthday I need to use up (they were massage vouchers), I got a bunch at some of the awards I have been to recently plus we have some from VIP clubs and a dinner voucher that was a thank you for referring clients.
How to sell gift certificates
While it can be deemed ungracious to sell or regift things, I would rather someone get proper use of my gift and if that means they offload it, so be it. That said, I usually try to get exactly what someone wants and asks for.
Selling often means you do not get the full value of the gift certificate, but it is better than nothing. I opt to exchange it for something else if possible e.g. a beauty gift certificate for a specific service I called to request if I could change it to one I actually use.
To sell the gift certificates:
1.) Check if you can sell them – not all gift certificates can be sold or give to other people. If this is the case, you don’t want to mess up and sell a certificate someone else can’t actually use!
2.) Know their value – not all gift certificates list their value, so find out what they are worth
3.) Compare what they are selling for – check eBay, local buy, sell and swap groups, Gumtree and similar to see how much certificates are selling for and if they are indeed selling.
4.) List for sale – make sure you have a good description of them plus a picture helps.
What I did with ours
I got them all together, worked out which were useful to us and which were not, checked expiry dates then locked them in. All up, ours were worth over $650.
1.) Worked out which ones I would use
Some of them are really useful to me, so I finally booked them in. One was a massage voucher my boyfriend gave me for my birthday, so not a ‘need’ but I wasn’t giving that up for anything!
2.) Negotiated or exchanged options in the certificates
I had a few certificates that offered things I wouldn’t use so I rang and asked if I could change what they were for. This meant instead of me paying for $68 for something each month, I have the next 3 months covered, saving me $205! Can’t believe I didn’t think of it earlier.
3.) Sold the ones I wouldn’t use
There were a few certificates I simply wouldn’t use so I listed them for sale instead. I will update if they sell and they are likely to only sell for half their value but since I can’t use them, it’s better than wasting them.
How to get reduced gift certificates
Getting reduced gift certificates works the same way as selling them. Think of places you might sell something and search for gift certificates. They usually go for a fraction of their value.
Look at Entertainment Books for supermarket gift certificates as you can purchase through them for 5% off.
Talk to businesses. Some businesses have discount days or offer packages for gift certificates at a discounted rate because they get the money from you straight up, and not everyone uses their certificates.
VIP Giftcards and rewards
How many VIP clubs do you belong to and how often do you cash in those rewards? I had a few I was eligible for vouchers for plus I remembered many of the stores I love have birthday bonuses so I signed up my family members so they can all get birthday rewards and we get a bunch of free things to do on their birthday. I’ll share a post on which ones I did this with soon.
My running total for the extra $100 a day challenge
If I include the whole value of the gift certificates, that is $650 towards my $100 a day challenge. If I include only the value of the ones I booked in the value is $329. It’s not technically making money, since these are things that were given to me, but they were sitting in the drawer destined to most likely expire before use, so I am including the value of the ones I am using and if the others sell, I will include their value later. Total sits at $4,025.
What do you do with gift certificates and gift cards? Are you a member of any great VIP clubs?