There's a way to save money with gift cards. Companies such as Raise.com have created a system where users can purchase gift cards from individuals who do not want their gift cards anymore, and want to redeem them for cash so they sell them on an open market at less than face value, this helps you save money!
There's a two ways that you can use sites like Raise.com to your advantage.
In this example, I am going to use Nike as an example.
One way you can use Raise.com gift cards and purchase at face value and just reap the rewards that way. Below you can see a screenshot of what Raise.com has to offer for Nike gift cards.
As you can see they have multiple cards available for gift card usage. In this example, we can purchase a $50 gift card at $46.00, or 6.4% discount pricing. So one way to use this gift card is to simply use it for its $50 and we will save on our 6.4%. You may think that 6.4% or $4 is nothing, but if you do this at least 20 times then you already saved $80.00!
Another way to take advantage is to purchase multiple cards. In our same Nike example, since they are multiple cards available at $46.00 for $50, we can purchase all 3 cards at $138, and we will have $150 worth of gift cards, this saves us 19.20% in savings.
Last, but not least, because these are gift cards, you can use these gift cards to purchase something that's on sale already at the place you want to purchase your product at. Using our same Nike example, I looked around the Nike Sale items and stumbled across these shoes that were on sale:
As you can see, these are some good prices. If we convert them into percentages then you'll have:
- Nike Roshe Two, was $90, but now $64.97, this is a savings of about 28% rounded.
- Air Jordan 4 Retro, was $190, but now $154.97, this is a savings of about 19% rounded.
- Nike Flyknit Racer, was $150, but now $129.97, this is a savings of about 13% rounded.
- Nike Air Huarache, was $110, but now $79.97, this is a savings of about 20% rounded.
As you can see this is pretty decent deductions for their sale items, and with our Raise.com gift card the savings drop even further. How it works:
If we wanted to purchase Air Jordan 4 Retros at $154.97 we would:
Purchase 3 gift cards from Raise.com for $138, which saves us 19.20%, or $12.00
The Air Jordan 4 Retro is already on sale from $190 to $154.97, a 19% savings, or $35.03
Since our gift cards doesn't cover the $4.97, we would spend that from our pocket.
After all is said and done, we would have our Air Jordan Retro 4 shoes, and have saved $47.03, or 38.20% in savings!
- P.S. I did not include Raise.com fees for purchasing gift cards, they are not that high, and in this example we would still save over 15% in gift cards, and over 30% on the shoe.
** - I was not sponsored by Raise.com in anyway, I'm just an average joe that loves to save and make money.
Hope this helps ya!