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eBay Gift Card Changes – Huge Negative
I write about quite a few merchant gift card deals here on Miles to Memories because they are often a good way to manufacture spend. Unfortunately, one way that people do that is now changing. eBay gift cards are no longer able to be used to purchase third party gift cards. This is a huge change and one that came without any notice.
This signifiant change is now in effect and is documented in the latest version of the eBay terms. Here is what the new terms say:
The Gift Card also may not be used to buy eBay Gift Cards, third party gift cards, gift certificates, coupons, coins, paper money, virtual currency, or items generally considered to be “bullion” (for example, gold, silver, and other precious metals in the form of coins, bars, or ingots).
Can I get a collective BOOOOOOOOOOOOOOOOOOO? Of course this comes after they implemented a $2,000 per 60 day limit on eBay gift cards back in July. In other words, eBay is tightening and it hurts.
What Does This Mean?
Essentially you can no longer buy any gift cards with eBay gift cards. Gas gift cards? Nope! Travel gift cards? Nope! Any other gift cards? Absolutely not! I am not surprised by this given that very few merchants allow for the purchase of gift cards with their own gift cards. That doesn’t keep this from hurting though, especially given the lack of notice.
If you are holding a lot of $$$ in eBay gift cards and are wondering what this does to the value of them, I want to paraphrase an email I received from a company that I sell gift cards to. They significantly lowered the value at which they will purchase eBay gift cards and said that the changes have a significant impact on how eBay gift cards can be used and thus the value has been diminished a lot. (A LOT!)
I still purchase enough merchandise on eBay that I can easily liquidate my eBay gift cards, but this is a huge blow and one that will make some eBay gift card deals not as attractive. I know many of you relied on discounted eBay gift cards to make some of those deals profitable and things will be quite different now. I’m not sure why companies don’t feel the need to both give notice and to properly disclose changes, but my only guess is they feel they can get away with it.
What are your thoughts? Should eBay have disclosed this ahead of time before selling thousands of dollars worth of gift cards to customers? Is this just par for the course? Let us know your thoughts in the comments.
HT: Doctor of Credit
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