Update 11/20/19: The $20 referral bonus has now ended, but you can still join The Card Bay using the details below.
Update 10/26/19: Just a reminder that if you applied for The Card Bay, you have fewer than four weeks until you need to meet the selling requirements in order to earn the bonus. You had to meet the selling requirements within 60 days of onboarding though, so your end date might be even sooner than November 20.
Update 9/30/19: Republishing this because if you’re interested in earning the bonus listed below, you have to meet the selling requirements by November 20 which is less than two months away now.
The Deal
- Join The Card Bay and sell $3,000+ worth of gift cards & get a $20 bonus.
- Direct link to application (our referral link – we earn a commission if you meet the selling requirements listed above & in the Key Terms).
- Under ‘Referral’, select ‘Existing Seller’ and enter ‘GC Galore’ (see screenshot below).
Key Terms
- Bonus
- In order for the bonus to be paid, the referee must each sell $3,000 gift cards, and have them successfully paid out.
- The amount above is calculated based on the Payable Amount of the card, not the Face Value of the card.
- The amount above must be sold within 60 days from the day of onboard, however no later than November 20, 2019.
- Bonus will be processed within 2 weeks after you and the referee meet the minimum submission amount, as defined above.
- New Accounts
- Each Account must have a unique home address, banking account in order to be considered as separate Account for purposes of attribution to Referee or to Referrer.
- Referrer and Referee must not be the same person.
- Referee cannot be a spouse of the Referrer.
- Referee cannot have the same IP address as any other user of The Card Bay.
Tips & Ideas
I started selling to The Card Bay about 6 months ago and have had a great experience so far. There’s obviously risk involved with gift card reselling, as seen last year with The Plastic Merchant and then over the last couple of months with GiftCardMart. Both of those are sites I’d sold to in the past and I lost some money with The Plastic Merchant, although at least GiftCardMart seems to have had significantly fewer issues with non-payments.
Even if neither of those other sites had encountered problems, The Card Bay would still be my go-to site for reselling gift cards for a number of reasons:
- Good selection of gift card brands accepted.
- Good resale rates.
- Intuitive selling platform.
- Fast payments.
- Excellent communication.
- Private Slack channels keeping members updated about gift card promos.
I’ll be writing a more comprehensive guide to selling on The Card Bay in the coming days, so keep an eye out for that. (Note to any existing TCB sellers reading this – TCB has confirmed they’re happy for me to do that.)
A couple of important things to note regarding this promotion:
- The $3,000 worth of gift cards is based on the amount you’re paid, rather than the face value of the cards. For example, let’s say you were wanting to sell a brand that The Card Bay is paying 90% on. You’d need to sell $3,333.33 of that brand at 90% in order to meet the $3,000 Payable Amount requirement.
- You have 60 days from when your application is approved to sell the $3,000 in gift cards.
In addition to the $20 bonus, the first 100 people signing up using our referral link will get priority access to the platform. Joining now will therefore mean you’ll be on board before the holiday season when there’ll likely be a ton of gift card deals available. Just to be aware, the onboarding process involves an over the phone meet and greet; it’s not a painful process though and that’s coming from someone who hates talking on the phone.
To give you a quick idea of how it works, The Card Bay has a list of ~100 gift card brands they buy. Unlike sites like Raise where you set your own rates and have Raise’s commission deducted, The Card Bay lists the percentage they’ll pay for each card. That’s helpful as it’s a guaranteed rate and you don’t have to worry about floating the money for any longer than the standard payment cycle of 10-15 days.
You’re able to reserve capacity before buying any gift cards, so you know you’ll definitely be able to offload them. That reservation is initially valid for 48 hours, but you can extend it to 14 days if you upload proof of purchase – helpful for when you’re having physical gift cards being mailed to you (such as when buying Crate & Barrel gift cards with an Amex Offer).
Please let me know if you have any questions about selling on The Card Bay. I’ll answer them below as best I can and will include that information when putting together my guide to selling with them.
To be honest, I’m not sure about the whole 1099 thing. Given that Chase and Amex sent some out (even for referral bonuses) for the last tax year, it makes me wonder if some companies are just covering their backsides in case the IRS ever came back saying they should’ve issued them.
I don’t know tax law though, so I might be wrong.
Yep – I didn’t want this post to seem overly gushing about TCB, but it has been a fantastic experience.
Hi Stephen, I sent you an e-mail but never got a response.
Before sending in a driver license etc,, how do the rates compare to GCW?
I’m really sorry, I must have missed your email. I’ve never actually sold to GCW and so I’m not sure how their private rates compare. The rates on The Card Bay are better than those listed on the home page of GCW for regular sellers if that gives any kind of point of comparison.
When contacting The Card Bay in the past, they said they don’t mind their rates being shared. I won’t go into too much detail about all the rates, but a few examples (correct as of August 30, 2019 but subject to change) are:
* Best Buy $100+ – 93%
* Home Depot – 90%
* iTunes <$49 - 84.5% * iTunes $50+ - 85% * Amazon $100 & $500 - 94% * Amazon all other denominations - 93% I hope that helps 🙂
Not sure why the formatting of my comment got goofy from iTunes onward!
Thanks Stephen, I sent the e-mail to you via the form on this website, so maybe you have an issue there?
There’s no distinction between GCW public/private rates. You have to join to sell to him and then you get the rates shown.
Of the rates you listed, TCB is a point higher on a couple brands. GCW had higher rates when he launched too, but they went down over time.
So the biggest difference is probably the business model.
What is GCW ? Please share there website or contact Details.
GCW is GiftCardWiki.
Hi Stephen,
I’m new to MS. Could you please help me how this gift card reselling works and how to minimize the loses or reselling the GC’s with minimal profits or at breakeven prices and also how can I get access to this gc resellers.
Thanks in advance
I wrote a guide to getting started with gift card reselling, so hopefully this will help: https://gcgalore.com/20-beginner-tips-for-successful-gift-card-reselling/
Thanks
What does TCB stand for?
The Card Bay