Using Discounted Gift Cards on Cyber Monday

In an effort to cut back on Christmas expenses this year I’ve purchased a handful of discounted gift cards from eBay and other online auction sites. I started sniffing the web a few months back and so far I’ve managed to snag a bunch of cards for 60-70% of their cash value.

I plan to take advantage of a whole host of Cyber Monday sales tomorrow. In the past I’ve been very successful at saving money on Cyber Monday. I typically use coupon codes and shop primarily through Ebates. (I mentioned Ebates on Friday, so I won’t go into detail, but I will add that you can earn an additional $10 in cash back savings if you sign up and make a purchase by December 31st.)

Between the coupon codes, the cyber monday sales and the discounted gift cards I hope to save between 40 and 50% off of all my online purchases. I don’t know how close I’ll come to that mark, but those are the numbers I’m aiming for.

I should note that I only purchased cards for stores where I plan to buy gifts or for stores where I would shop myself. I also avoided any stores that I think might be in risk of bankruptcy. If worst comes to worst, and I can’t find any deals worth purchasing, I’ll simply post the discounted cards back on eBay and recoup my initial costs. I bought the cards at such low rates that I might be able to make money off the transactions.