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Gift Card Bulk Selling
I write about a ton of deals regarding gift cards that can be bought to generate credit card rewards and even in some cases profit. With these deals becoming more common lately, I have also run into issues with trying to sell the cards in any volume.
Some of the gift card re-sellers would always flag my transactions as fraudulent and others paid terrible rates and always required that physical cards be sent in. For that reason I decided to pursue a bulk relationship with two different companies.
The two companies I ultimately chose were Cardpool and SaveYa, primarily because I know of others who have a relationship with them. SaveYa is also fairly good about accepting gift codes online in many cases, which is quite helpful in being able to avoid mailing out cards too often.
The Application Process
Both companies have a brief online application that needs to be filled out. In the application they’ll ask some of the following:
- Personal information (Name, address, date of birth)
- Business information
- How much volume you expect to sell
- Where you obtain most of your gift cards
Note: There are of course many other resellers that allow bulk relationships as well.
The Next Step
After filling out the application for both resellers, I received a phone call within a day or two for a phone interview. My guess is this interview is to verify you are a legitimate person and not a scammer. Either way the interview consists of a few questions, covering mostly what is on the application.
During my interviews I simply told them that I purchase gift cards from retailers during sales. I also explained that I am always looking out for deals and that is why I am able to find these discounts. Generally these companies like when you purchase the gift cards directly yourself as opposed to buying them from a 3rd party before reselling.
After the Interview
For both Cardpool and SaveYa, I had no action on my bulk seller application for over a week after talking with them. Then I shot off a quick email and both companies responded almost immediately by approving me. I’m not sure what happened, but I had been holding a few cards, so it was nice to be able to get rid of them.
I highly suggest if you begin selling gift cards in bulk that you start tracking everything. Previously when I was just doing very small amounts, I didn’t keep everything in a spreadsheet. Now I track all of the information including card numbers, pins, purchase price, sale price and more. Ultimately this will help with my record keeping, but also eventually I should be able to track trends, etc.
Becoming a bulk seller isn’t the biggest deal in the world, but it also isn’t for someone who buys a few hundred dollars of gift cards casually. (No need to become a bulk seller for that.) I am still settling into my bulk seller status and plan to post some more about it as I discover new things. As for now, I am just liquidating some Staples gift cards and all of the cards I purchased on eBay over the past couple of weeks!
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