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First off, as a HUGE DISCLAIMER – I am in no way saying that this is a sustainable day. Much of it was due to deals or rates that aren’t necessarily open to the public, as well as taking advantage of one-time deals like Amex Offers. Believe me, if I could reliably and consistently profit $900 / day selling gift cards, I’d be quitting my day job.
Still, I think it is somewhat instructive to look at some of the deals out there, to show what can be done
Deal breakdown – first in-store at Sams and Kroger
The morning started off with a notification on the Points With a Crew Slack Channel that there was a one day flash sale on iTunes gift cards. I bought 10 $100 iTunes at $84.47 and should be able to sell them at $86.
Later on in the morning, I realized that there were more gift card deals at Sams, so I made a stop in-store and ended up buying 160 O’Charley and 40 Papa John’s cards. They were both on sale for $34.98 for a 2-pack, and I should be able to sell at about $18-20 per card.
The real benefit of these Sams deals were that 2 of my cards had been targeted for an Amex Offer offering 20% off at Sams Club up to a purchase price of $1250 ($250 off). I split tendered the transaction, using up both of my offers for a cool $500 just from those Amex Offers. I guess I’m glad to pay the $99 annual fee on that SPG Business card after all! 😀
While I was out, I stopped by 2 of my local Kroger stores. They are currently offering discounted gift cards with digital coupons. I bought 16 Yankee Candle $25 cards and 16 Limited $25 cards. I also bought 1 $100 Visa card for $95.95. I still have one Serve, and I wanted to make sure that I could still load it at Walmart before I bought a ton (it worked)
Coming home for some Amex offers
There are quite a few Amex offers (besides the big Sams Club one) that can make sense for gift card purchases. I always find it a little time consuming to go through and buy gift cards, one at a time, to use up all my Amex Offers (and I only have like 8 Amex cards, MUCH less than I know some people have)
I bought 5 Newegg $200 cards with my ($25 Amex Offer), and then tried to buy just 1 $75 Lancome card again (I had bought 5 before but all 5 of my orders were canceled)
Breaking down the totals
All in all, I got 249 gift cards, and the face value of the gift cards was $7775.00
I ended up with a purchase price of $6,058.65, and yes, I did feel a little nervous after I left Sams Club walking around the parking lot holding like $5K in gift cards….
There is $640 in Amex Offers that should come off my bill (mostly the 2 20% off orders from Sams), making my net price $5373.65
If all goes according to plan, I should be able to resell them for $6327.50, leaving me with a net profit of $953.85
And all those gift cards finally convinced me to buy this magnetic card reader so I don’t have to type in all those numbers!
Not counted in my totals are
- 2798 SPG points (~$50)
- 2150 Barclay Arrival points (~$21.50) – meeting the minimum spend on one of the 2 cards I just signed up for
- 600 Amex Membership Rewards ($10.00)
- 400 Hilton HHonors points (~2.00)
- 914 fuel points good for 90 cents / gal off at Kroger (~$30)
Not bad for a day’s side-hustle! Though actually that’s only my SECOND-BEST hustle day ever….