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Buying gift cards online from gift card resellers is a great way to earn some savings purchase. If you buy them from a reliable source, you’ll get your gift card promptly and securely, often saving anywhere from 5% – 15%.
With Reddit, you can often find savings much greater than this. Sometimes as high as 20% – 40%. If you’re not familiar with Reddit, it’s a massive online community with many sub-forums, or “Sub-Reddits.” One of these Sub-Reddits is called Gift Card Exchange, specifically made for buying and selling unwanted gift cards from other forum users at a discount.
Now, I know what you’re probably thinking… trading with complete strangers can’t possibly be safe. However, Reddit took this into account and created a way for Redditors to look up the reputation of a seller or buyer so that you can complete the transaction in a safe and timely matter (almost instantly).
People do get scammed occasionally, but that’s only because they don’t take precautions. I’ve personally bought 10 gift cards from other Redditors and have never been scammed out of my money. I made sure to do my due diligence and follow all of the rules and guidelines before making any purchase.
This article will breakdown these guidelines in a simple manner so that you can start trading on Reddit today and get discounted gift cards at a great price.
Create An Account… And Keep It For A While
The biggest safety precaution you can take when exchanging gift cards on Reddit is to look out for new accounts. Accounts with a short lifespan often indicate that a user might’ve been recently banned and simply created a new one just to scam again. This isn’t always the case, but it’s best to simply stay away from these users to avoid any risk.
If you’re just starting out on Reddit, it’s a good idea to get an account right away just to build up a reputation of having a longstanding account, even if you don’t plan on exchanging right away. This way other Redditors are going to be more willing to trade with you in the future.
The way you can view a person’s account age is by clicking on their username and viewing their profile. In the upper-right-hand corner of the Reddit page, you can see how long they’ve been a Redditor for.
The reason why you should always leave a comment first is because Reddit can control who leaves a comment, but they can’t control personal messages.
By going to the Gift Card Exchange Sub-Reddit, you can quickly see a wide range of offers from other Redditors. Click on any of the links to view the offers. Here’s an example below of someone trading their $5 Amazon gift card for $4.50 to their PayPal account.
The [H] symbol represents the item they have and the [W] represents what they want. Just so you know, buying Amazon gift cards at a 20% discount is the standard price on this Sub-Reddit. That’s a huge savings that you can’t find anywhere else.
Notice how the Redditor in the comment above mentioned to leave a comment first. The reason is because this way Reddit can easily keep track of exchanges made.
Check Out A User’s Reputation
Before making any sort of exchange, it’s very important that you view the other person’s past exchanges. If they have a good track record, you’ll feel much more confident about making the trade.
A reputation is built-up by other Redditors making exchanges and leaving ratings after the trade is complete. If you’ve made a lot of trades on Reddit and have never scammed anyone out of their card or money, that person will leave you a comment stating what a great person you are to work with. Do the opposite, and you’ll receive a poor reputation, making others less likely to work with you.
Of course, the more you trade, the more quickly you can build up that reputation. To view a person’s reputation, you can leave a comment on someone’s thread. Once you do that, a bot will come by and automatically leave a message stating the user’s reputation. You can see this in the image below.
You can also view the Universal Scam List to see who to avoid at all costs. Don’t even bother with someone if they are on this list.
Start Exchanging… Even If You Don’t Have A Reputation Built-Up
Don’t have a reputation built-up and it’s your first time trading? We all have to start somewhere. It’s just that when the time comes to make a trade, you’ll be the looked at cautiously by other Redditors.
Now that you’ve got the basics down, let’s go through a sample of steps on how to trade for your first time on Reddit… so exciting!
1. Create an Account. This can be done by going to Reddit.com. All you need is a username and a password, no email verification needed. You can sign-up by clicking on “create an account” on the upper-right-hand corner of the page.
After creating an account, in order to avoid scammers, you have to wait a minimum of 14 days before you can make any sort of gift card exchange. This is for everyone’s safety. You won’t even be able to post on that Sub-Reddit if you have an account younger than that.
2. View the offers available. You can see all offers available by going to the Gift Card Exchange Sub-Reddit. Find an offer you like and click on it. When you first view the page, there may be posts from a long time ago (even as much as 3 years). These deals are probably no longer valid. You can select to filter offers from a day ago, a month ago, etc. by clicking on the “links from” tab.
3. Click on the offer you want. Simply click on a link to view the offer. We look at the person’s profile and see that he wants Amazon gift cards. We like the offer so we leave a comment first before sending a personal message.
4. Look up his reputation. This can be done by viewing the GCXRep Sub-Reddit. We notice that the user is a beginner, but has quite a few reputable trades under his belt, a total of 27. We decide we trust the user and want to make the trade with him. We also notice that he isn’t on the Universal Scammer List and even has phone verification.
5. Complete the trade. If you want to make a trade, after leaving a comment you can send the user a personal message. What will have to happen is that someone will have to trade first. Usually the person with the least amount of successful trades will have to keep their end of the deal first.
If you’re just starting out, you’re most likely going to have to send your money/gift card first for a while before you build up a reputation. Once you become more experienced, other Redditors will realize that you’re trustworthy and start sending you their end of the deal first, and then you can send it last.
6. Leave feedback. Once you complete the trade, leave feedback on how thorough the transaction was. Give the seller/buyer a positive rating if you received your gift card or the money you requested in a timely manner. This will also make the person you’re doing the exchange with leave a positive comment on your reputation profile as well.
It may take a while to get used to exchanging gift cards through an open online forum, but you’ll soon see that rates are usually much better found on Reddit, especially for Amazon, going for 20% off of their original value. Other gift card exchange sites usually sell Amazon gift cards for only 1% or 2% of their value.
Sometimes you can even make a small profit. If you see a great deal for a gift card, buy it and then resell it to a gift card exchange site. Here we’ve listed 8 gift card exchanges that are highly reputable.
Again, I cannot stress the importance of first taking a look at the Reddit guide in its entirety before making any sort of transaction. This will only protect you and prevent you from losing your money or gift card.
My name is Jason Wuerch and I'm currently located in Madrid, Spain running a personal finance blog called Frugal For Less. My goal is to help everyone and anyone willing to make and save money through easy and simple ways that don't require much effort. Just because you're frugal doesn't mean you have to give up life's luxuries.