Gift cards are a staple in the U.S. market. And if you know the right tricks, you may be able to buy them for less than you think — or even get them free.
You can also stretch their value further than many shoppers realize.
Here are gift card strategies every savvy shopper should keep in mind.
1. Shop for gift cards at warehouse clubs
Some warehouse clubs sell select gift cards at a discount. The variety is usually larger during the holiday season, but these chains often offer reduced-price gift cards throughout the year:
- Costco
- Sam’s Club
- BJ’s Wholesale Club
2. Look for Target gift card discounts in early December
For years, Target has offered 10% off its gift cards on the weekend after Cyber Monday.
That is usually far cheaper than the normal price, making it one of the best times to buy them — whether you plan to give them away or use them yourself.
To take advantage of the deal, you need to be a Target Circle member, the company’s free loyalty program.
3. Use gift card marketplaces to buy and sell
Buying from a discount gift card marketplace such as GCX can be an easy way to save, since you may pay less than the card’s full value.
You can also sell unwanted gift cards on these platforms, which connect people trying to unload cards with shoppers looking for a deal.
4. Watch for restaurant gift card deals in spring and fall
Many restaurants offer bonus gift cards when you buy one at full price during the holiday shopping season. That makes late fall and winter a strong time to stock up.
The weeks leading up to Mother’s Day, Father’s Day and spring graduation season can also bring good offers.
5. Start checking retail gift card offers in late November
Restaurants tend to offer more bonus-card promotions than retailers do before the holidays. Even so, late fall and winter remain the best time to look for retail gift card discounts and freebies.
The strongest deals usually begin around Black Friday and continue through the following week, often called Cyber Week. Some last until Christmas.
6. Redeem gift cards for cash in some states
In several states, merchants are required to pay out the remaining balance on certain store-issued gift cards if you ask, according to World Population Review.
The minimum balance required, along with other rules for cashing out, varies by state.
7. Review your credit card benefits
When was the last time you checked the perks attached to your credit cards? One of them may offer savings on certain gift cards.
For instance, Target Circle Card holders save 5% on specialty gift cards such as travel, restaurant and movie cards when they buy them in a Target store or on Target’s website.
8. Get cash back when you buy gift cards
At the very least, you can save indirectly by purchasing gift cards with a cash-back credit card.
Another option is to buy new gift cards through Ibotta, which can provide cash back on gift cards as well as on online or in-store purchases.
For example, Ibotta was offering instant cash back on gift cards for major retailers such as Walmart, Ulta and Chewy.
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