Published on January 15th, 2015 | by William Charles1
Stacking Discounts With eBay (10%+)
Just thought I’d do a quick little post on two ways to stack additional discounts with eBay.
Gyft is a site that lets you purchase gift cards. They just added eBay gift cards today. This is interesting because it’s possible to double or triple dip.
You get gyft points (their own loyalty currency) when you purchase any gift cards on the site. All of these points are worth 1¢ a piece when redeeming them (e.g 100 points = $1 discount) The amount of points you receive depends on the payment method you use.
- Apple Pay: 5 points per $1
- Bitcoin: 3 points per $1
- Paypal: 2 points per $1
- Google Wallet: 1 point per $1
- Credit card: 1 point per $1
Gyft is also on a number of different shopping portals (check CashBackMonitor for latest rates). The highest rate is 2.5% but that excludes some gift cards, eBay isn’t mentioned by name but I am going to assume that it’s supposed to be on that list but it hasn’t been updated. That would make 2% cash back the best rate.
Gyft also sells their own gift cards, which can be used to purchase any other gift cards on the website. You earn Gyft points on these purchases as well, I don’t think you’ll earn points again when you redeem them but you should be able to earn the portal cash back – this will bump up your cash back rate to 4%. This gives us an overall cash back rate of 9% if we use Apple Pay + whatever credit card rewards our card offers. You can then shop on eBay (again using a cash back portal) to use your gift card on regular purchases and also score eBay bucks as well. In the end you’ll easily get a 10%+ discount.
Gyft also occasionally offers promotional codes which could stack your discount even further. Obviously this will work for other gift cards that Gyft sell as well, just make sure it’s not cheaper to purchase them on the third party market first (I use giftcardgranny for this).
Frequent Miler recently had a post titled ‘A new way to increase rewards beyond 5X‘, it’s an interesting post but the most interesting thing is that for some reason eBay purchases count as a 5x category on the Chase Ink cards. For most people without Apple Pay this might be a better option depending on how much you value Chase UR points at.
Getting discounts at eBay is great because they often offer discounted gift cards which we can use for gift card reselling, the more stacking we can do – the bigger the savings we can get. Chuck recently talked about a perpetual point machine with eBay, I think that tactic is too much risk but it’s well worth a read.