Gift Cards Part Deux: We’re going with

All right, so after being stood up by giftcardswap, I’ve done a bit of research and going to give Gift Card Buyback a try.  The percentage is not nearly as good, but again this is a sale not an auction that I have to wait around for a buyer.  My test case: I had have a merchandise credit for a book on tape i recieved (I’m an avid library user so this book was bound to go unused).  The merchandise credit is for $37.92 from Borders, and Gift Card Buyback is currently offering to pay 70% for this card which is $26.54.  At first blush this seems like some steep interest I am giving up, when I can possibly get 80-85% for the card value at auction or swap somewhere else or 100% if I just waited and bought another replacement book with it. 

However, two things.  First, the book that I returned to get the credit was worth $0 to me – I was not going to read it and it in all liklihood would have sat on my shelf for several years before I ultimately donated it to charity.  Secondly,  I consider the certainty & ease of use of just selling the card to be worth $5.00 (the difference between a guaranteed 70%  & a possible maximum return of 85% of 37.92), it is worth 5.00 not to set up an auction or wait for a matching trade and possibly have to relist the card multiple times before an actual sale.


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The Cheap Skate’s Blog

A little website devoted to my pursuits of a good deal, penny-pinching strategies, and views on personal finance.
October 2008
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