@@ratuldeoun7228 nah man imagine you go to someone's house and you say yo what do you want as a gift or how much money want. Obviously before you buy em a gift
Unless you want to earmark it for something so say you want to give them money to buy school supplies and you can't be there with them buy them an Office Depot Office Max gift card or a Staples gift card. Or instead of giving little Timmy your credit card information to use on their online game Market by the gift card they can buy one two games or a couple in the game items.
The stores do not have to claim the sale until the card is actually used. I heard that many years ago I’m not sure it’s still true but they can take the money from the sale and not have to report it until the card is used.
In Sweden gift cards usually have a 1 year expiration date (sometimes it is 2 or 3, 5 or even 10 year). So a gift card is the best sale you can do because a lot of times people will buy one and it will go unused, so the company gets all the money without paying taxes.
Even the near impossibility to use all of it without going over. You have a $10 gift card, and due to some of the weird pricing, you always need to go over the $10 limit just to clear. Meaning you’re are forced to buy more.
If you organise your gift cards and take notes of the value and expiration dates, gift cards can be a good saving on purchases. In conjunction with cashback apps and survey apps, gift cards are a good option and I reckon that I've saved hundreds of pounds this year so far. But be aware that the company can reject them at any notice as per terms and conditions, and if the company goes in administration or liquidates then you lose the entire value of the gift card.
But if every person in America buys a gift card....uses it....but has a balance of 18 cents (for example) at the end, then no one will likely use that last few cents and most likely throw it away. What can you buy with 18 cents? This is how they profit
Gift cards are easily hacked, there’s a program online that automatically fishes for them. There are websites that sell gift cards for 10$ with 50$ worth of value
And that along with adding to plastic pollution is why I hate gifting them or getting them. Most states have laws that let you still use yours after the expiration date, make sure you know your areas it can help you use up every cent.
Why not just gift an envelope with some money? My parents always did this since I was like 8. "Happy Birthday, here's some money- go buy yourself whatever"
Also, people are getting they’re gift card funds stolen electronically without ever taking it out the package… scammers take pics of the back of card to use once someone loads money into them..
My grandma gets me makeup gift cards every year, even though I’ve made it clear to her that I do not wear makeup, so I just have hundreds of dollars worth of makeup gift cards from her over the years. I’ve already given away several of them worth many hundreds. It sucks.
I see a few issues with this - 1) It’s very common nowadays to sell/purchase gift cards at a heavy discount (10-20%) anywhere from your local grocery store to Target, Amazon even Office Depot sells them discounted. Meaning the company is already taking a loss on selling those. 2) Gift Cards by law never expire, meaning you could use it in 5 years. I definitely don’t see them as a scam, but more of a win win. You get them at a discount and use them anytime you want. Now if they had a set expiration date then it’s a scam as it forces you to use it within a specific period.
On top of this, I know I’m guilty, you go shopping with a card and have like 10 cents left and never use the card again now that is a shit load of money added up
The worst one is when you try to use a card as part-payment and its refused. Say you are given a £20 card for a shoe shop and a pair of shoes cost £30 and they refuse to let you use the gift card unless it's balance covers the whole cost
I have never had this happen must be a euro thing. It's common practice in Canada that you can pay using 2 different transactions generally what id do is I would ring in the gift card value then ask how you propose to pay the remaining x valie
@@ClintUdy exactly whoever said this to the original comment clearly doesn't want to make business. If I give someone a gift card to go somewhere and they buy 30$ worth of stuff and have a 20$ gift card that store should look at it as they have not only a new shopper but someone willing to spend more than the gift cardon there product. It just doesn't make sense
That's interesting I haven't had that happen usually the only thing they request is you present the gift card first so they can use the gift card to cover part of it and then present your second form of payment either cash, card or another gift card.
as a swed thats not allowed. I can show up whit 5 usd on a gift card say I want to pay 1 usd of this product whit this gift card and the rest whit my debit card. no problem. the biggest problem is that the cashier can´t always see how much is on the card. so they need to cansle the whole transaction order. and then find out how much is on the card, note it down. then rescan all the items, insert pay by gift card (sum) then pay by what ever the remaining amount.
That is not a scam; you are getting exactly what you paid for. If the recipient fails to use the full value of the card, it’s no one’s fault but their own.
It’s still a scam. You as the giver are putting the recipient in the position of HAVING to waste money. It is virtually guaranteed you will never spend the precise amount on the gift card, so you either donate the balance to the corporation or spend your own money to use up the gift card.
some people go to a shop with there Gift card and can't find anything they want so end up not using it and sometime people will end up buying something they don't really want or need just because they don't want to waste the gift card
I absolutely agree. Also, you're just spending universal money to get the same amount of money but only for a single (or few) stores. Gift cards are in no way better than plain cash
@@glodmod6610 its under legislation that gift cards are a form of currency, thus they are not allowed to expire even if it says so on the gift card itself
I work at an art nonprofit that specializes in giving glass art classes and there are a few people that still haven't picked up their gift cards. I've tried emailing the customers that their gift cards are here and ready to be picked up but they're still collecting dust.
that's another way casinos make money in Vegas, instead of slot machines giving you the money back they just give you a receipt to take to the machine and cash out. People don't bother, if it's just "40 cents" but it's adds up.
I don’t really understand why anyone would but one in the first place. It’s basically just putting restrictions on money, for example if you buy an 80$ Amazon gift card it will cost 80$ so that’s just giving someone 80$ but you can only spend it in one place
where i work, we have a tool for hotels that lets customers create vouchers. one of our selling points is, that they get 100% profit for every unused voucher
That's why when you buy a card for a gift write down the number and pin (I know there's probably a way to do it without scratching it off) and wait 1 year and then check and if it hasn't been used you are free to use
Google play and Nintendo eshop seem to have fixed this issue, so long as you have an account you can tie all money from your gift cards to your account so leftovers are used on the next purchase.
I wish my problem was forgetting to use what’s left on a gift card. I have a $50 Amazon gift card that got wet and the claim code wore off so 5 of the 15 digits aren’t readable. Even though the 16 digit number and barcode are perfectly legible, they won’t replace the card 🙄 I always knew gift cards were scams, but these newer paper ones are a whole new level of scam 😡
I always thought they were a scam cause you have to spend more than what's on them to use them all, so they'd make the initial value and a few bucks extra. interesting to see it goes the opposite way
Nowadays you don’t spend as much for card Most places offer a gift card for exact amount Depends on company I guess I don’t think for example chick fil a would charge a 3-5$ fee if you get a gift card But Yeaa they probably know someone’s not gonna use the whole amount
Thats actually crazy to think about, my amazon account has like $2.36 gift card money left over on it and no matter how hard I could try I would never be able to spend all of it. Now imagine millions of other people like me and you can see how they make a profit, its actually genius on their part
It doesn't help that say you got a $20 gift card, often the in game item will cost say $18.35, and the rest is to small an amount, this losing you money
Thank you for reminding me to use my unused gift cards.
I don't know if I have ever seen or considered giving a gift card as a gift to someone 😂
@@madlad25 It's better to ask them what they want or straight up give them cash.
@@ratuldeoun7228 nah man imagine you go to someone's house and you say yo what do you want as a gift or how much money want. Obviously before you buy em a gift
Buying a giftcard is like millionares stuff for me
@@madlad25 My brother does and I love it
Moral of the story:
Just give your kid a 10 dollar bill.
You can't use those online
Unless you want to earmark it for something so say you want to give them money to buy school supplies and you can't be there with them buy them an Office Depot Office Max gift card or a Staples gift card.
Or instead of giving little Timmy your credit card information to use on their online game Market by the gift card they can buy one two games or a couple in the game items.
@@nenuu91iscool You can buy a prepaid debit card
@@TheGreenRUclipsr alot of places are starting to decline prepaid, but you have a point
@@nenuu91iscool What are you talking about literally everywhere is still using debit cards
You ain’t ever gonna catch my ass with even 1 cent left on a gift card, I use all of that shit.
Fr
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When I get gift cards I be spending that thing in a literal nanosecond
i found an unused $50 XBOX GIFT CARD laying in my drawer as soon as i found it i used it
The stores do not have to claim the sale until the card is actually used. I heard that many years ago I’m not sure it’s still true but they can take the money from the sale and not have to report it until the card is used.
Bro who even forgets to use their gift card💀
Fr
I am going on a journey to collect all those unused gift cards 🙂
store shelves
i have no idea what these gift cards , super coins and vouchers even means. My mother has never used any of those.
@@Dev_2267good luck
Sometimes in order to not fund someone's bad habits you have to get them gift cards to force them to use money in a specific way.
Those people are selling the card.
If you have unused gift card, I would like to buy them at a discount rate.
Facts in my opinion ❤
Good point.
Just buy your kid the groceries instead 😂 we all know teens buy drugs.
In Sweden gift cards usually have a 1 year expiration date (sometimes it is 2 or 3, 5 or even 10 year). So a gift card is the best sale you can do because a lot of times people will buy one and it will go unused, so the company gets all the money without paying taxes.
I buy unused Gift cards pls. I'll pay with Cash app
I thought this was obvious, and no not everyone used them, I never used one. For the exact same reason.
But they can't keep track of them..... There making profit not only from the unused, but from the lost, the cut, the burned ones.
Even the near impossibility to use all of it without going over. You have a $10 gift card, and due to some of the weird pricing, you always need to go over the $10 limit just to clear. Meaning you’re are forced to buy more.
If you organise your gift cards and take notes of the value and expiration dates, gift cards can be a good saving on purchases. In conjunction with cashback apps and survey apps, gift cards are a good option and I reckon that I've saved hundreds of pounds this year so far. But be aware that the company can reject them at any notice as per terms and conditions, and if the company goes in administration or liquidates then you lose the entire value of the gift card.
Ok, so you're feeding off a scam. LOVE IT. (not).
@@bindingcurve Huh. He's literally just taking advantage of gift cards.
@@michaelliu8887 Then go for it, don't advertise your "savings" from the marketing scammers.
But if every person in America buys a gift card....uses it....but has a balance of 18 cents (for example) at the end, then no one will likely use that last few cents and most likely throw it away. What can you buy with 18 cents? This is how they profit
@@bindingcurve nope, I'm sorry you're unable to do a little organising and put in a little effort to make some big savings.
They’re also a scam because you’re more likely than not going to buy more than what’s on the card. I hate them.
Ive told anyone buying me a gift that id rather have a hand written note with cash, for years
"let me explain"
*Noel Deyzel music starts playing
Basedddd
millie bobby brown most beautiful women ever
@@jmurdaa1virgin things 🤓
Ahhh a cultured individual i see
@@jmurdaa1You need to hit the gym and find a real woman bro 💀
Not to mention there is always money on there that you could never spend... like 12 cents or something.
Gift cards are easily hacked, there’s a program online that automatically fishes for them. There are websites that sell gift cards for 10$ with 50$ worth of value
And that along with adding to plastic pollution is why I hate gifting them or getting them. Most states have laws that let you still use yours after the expiration date, make sure you know your areas it can help you use up every cent.
Why not just gift an envelope with some money? My parents always did this since I was like 8. "Happy Birthday, here's some money- go buy yourself whatever"
Your parents were smarter than a lot of people.
Also, people are getting they’re gift card funds stolen electronically without ever taking it out the package… scammers take pics of the back of card to use once someone loads money into them..
I have collected about $270 worth of GameStop gift cards over all the holidays I've lived through and haven't spent single bit
My grandma gets me makeup gift cards every year, even though I’ve made it clear to her that I do not wear makeup, so I just have hundreds of dollars worth of makeup gift cards from her over the years. I’ve already given away several of them worth many hundreds. It sucks.
@@firstnamelastname7708I hope your grandma will givr cash instead in the future
I’ve never understood the point of gift cards. Just give someone some cash instead.
i use amazon gift cards instead of having my mom purchase things so uh yh
I see a few issues with this -
1) It’s very common nowadays to sell/purchase gift cards at a heavy discount (10-20%) anywhere from your local grocery store to Target, Amazon even Office Depot sells them discounted. Meaning the company is already taking a loss on selling those.
2) Gift Cards by law never expire, meaning you could use it in 5 years.
I definitely don’t see them as a scam, but more of a win win. You get them at a discount and use them anytime you want. Now if they had a set expiration date then it’s a scam as it forces you to use it within a specific period.
I need a gift card and give you a satisfactory price.
It's a gift and they informed you before they sold it to you,so it's not a scam.
On top of this, I know I’m guilty, you go shopping with a card and have like 10 cents left and never use the card again now that is a shit load of money added up
This is why I always give cash instead.
You’re smart.
The worst one is when you try to use a card as part-payment and its refused. Say you are given a £20 card for a shoe shop and a pair of shoes cost £30 and they refuse to let you use the gift card unless it's balance covers the whole cost
I have never had this happen must be a euro thing. It's common practice in Canada that you can pay using 2 different transactions generally what id do is I would ring in the gift card value then ask how you propose to pay the remaining x valie
You can also pay 10 of the 30, leaving 20.
Or add 10 to the balance.
Or buy 10 in gc.
@@ClintUdy exactly whoever said this to the original comment clearly doesn't want to make business. If I give someone a gift card to go somewhere and they buy 30$ worth of stuff and have a 20$ gift card that store should look at it as they have not only a new shopper but someone willing to spend more than the gift cardon there product. It just doesn't make sense
That's interesting I haven't had that happen usually the only thing they request is you present the gift card first so they can use the gift card to cover part of it and then present your second form of payment either cash, card or another gift card.
as a swed thats not allowed.
I can show up whit 5 usd on a gift card say I want to pay 1 usd of this product whit this gift card and the rest whit my debit card.
no problem.
the biggest problem is that the cashier can´t always see how much is on the card. so they need to cansle the whole transaction order.
and then find out how much is on the card, note it down.
then rescan all the items, insert pay by gift card (sum) then pay by what ever the remaining amount.
Before Paypal, I used them to buy stuff on the Apple store and later Google Play.
That is not a scam; you are getting exactly what you paid for. If the recipient fails to use the full value of the card, it’s no one’s fault but their own.
It’s still a scam. You as the giver are putting the recipient in the position of HAVING to waste money. It is virtually guaranteed you will never spend the precise amount on the gift card, so you either donate the balance to the corporation or spend your own money to use up the gift card.
some people go to a shop with there Gift card and can't find anything they want so end up not using it and sometime people will end up buying something they don't really want or need just because they don't want to waste the gift card
I absolutely agree. Also, you're just spending universal money to get the same amount of money but only for a single (or few) stores. Gift cards are in no way better than plain cash
I literally scratched off the numbers ☠️
They used to expire too...
This is like saying perishable food is a scam because people can forget to eat all of it
wtf no lol, gift cards cant expire
@@mpownage4806 they can, or become invalid after a certain period at least
@@glodmod6610 its under legislation that gift cards are a form of currency, thus they are not allowed to expire even if it says so on the gift card itself
that's a pretty goofy comparison you need food to live so you wouldn't forget it as much giftcards aren't essential to live
that's a pretty goofy comparison you need food to live so you wouldn't forget it as much giftcards aren't essential to live
Meanwhile, _real_ scammers just scream "why did you redeem"?
I work at an art nonprofit that specializes in giving glass art classes and there are a few people that still haven't picked up their gift cards. I've tried emailing the customers that their gift cards are here and ready to be picked up but they're still collecting dust.
thanks for telling me to use the 40 cents left on them
that's another way casinos make money in Vegas, instead of slot machines giving you the money back they just give you a receipt to take to the machine and cash out. People don't bother, if it's just "40 cents" but it's adds up.
This video was really insightful, I always wondered how companies managed to make profit off of selling gift cards!
I don’t really understand why anyone would but one in the first place. It’s basically just putting restrictions on money, for example if you buy an 80$ Amazon gift card it will cost 80$ so that’s just giving someone 80$ but you can only spend it in one place
Exactly! I don’t get why people can’t understand this!
So true. My great wolf lodge gift card expired after no use for 6 years. Had over $300 on it 😢
Bro turned into megamind at the end
It doesn’t matter if I have penny left, it WILL get used.
where i work, we have a tool for hotels that lets customers create vouchers. one of our selling points is, that they get 100% profit for every unused voucher
Ya, why do you think they sell gift cards. Even if you leave 1 cent on it they make a profit… clearly.
Everything's a Scam Money itself is a Scam How far down the line do you wanna go with this
Amazon gift cards probably have the lowest breakage because you can immediately add them to your account and the biggest use in scams.
They are also literally an interest free loan
Just give them money instead lol
*is in despair over the x.99 leaving 1 cent on my e-shop accounts*
You also have to pay tax twice because you pay tax when buying the gift card and then again when using it.
That's why when you buy a card for a gift write down the number and pin (I know there's probably a way to do it without scratching it off) and wait 1 year and then check and if it hasn't been used you are free to use
"forget to use all of it" Not me, I always use my card until I can't spend any more.
They are convenient when you can use them instead of a credit or debit card online though.
Meanwhile Google just having their gift cards not work
The red dwarf was so unexpected lmao
So that's why a representative from Google Play always shouted at me to not redeem the card when im trying to pay him over the phone
I remember some state taking the profit off of that, because it's "lost" wealth. I think it was Delaware or something...
His head at top left at the end
These short names never stop
Video game companies don’t even have to measure the profit lol
Me who keeps and uses every card and struggling when a card is declined when it's to little and have to use a different one
That's why I take a picture of the gift cards I give to people. If they don't use it in a year, I will.
when i checked my old ones that hadn’t been fully drained i got like $50 total and ordered a pizza lol
Man thats crazy ngl but it makes sense ive forgotten atleast 1
Ok thought he was going to say extra taxes for the cards
The fact that every visa card is non reload able is upsetting i have so many cards with at least 2-4 bucks on it yet i can't use em
Actually, the law says that they can’t count it as profit until the gift card is used
But still, don't they already have the money?
Yeah that happened to me and I was trying to get to the bottom of it because I'm tired of it because I don't go for that
This is why i spend it in one sitting😂😂😂
just wait till im using prepaid cards to steal rented movies
yeah but kids can’t buy anything online without them
I don’t think I would forget if I bought a card, it’s like forgetting you have money
Oh yeah I need to go to Best Buy and Chick-fil-A
I use gift cards to load money onto my Xbox, then when I want to buy another game I have money left to pay for the game tax.
In Canada its illegal for gift cards to have a expiration date
So its a scam because people forget to use them? Why is everyone so negative nowdays, always assuming everyone else have bad intentions.
That’s why I used to only buy the amount I or the person would use
Just because a business can make money off of something doesn’t mean it’s a scam 😂
How can you forget to use that??? I do it asap when i paid for it
How do people even forget to use gift cards?
How is this a SCAM? It's not a business's fault if someone can't keep track of their gift card balance and use all of it.
Some of these nation wide gyms have a fuck ton of breakage allowing them to only cost $10 a month lmao.
Meanwhile my mom living off giftcards
Moral of the story use the gift card the same day
Google play and Nintendo eshop seem to have fixed this issue, so long as you have an account you can tie all money from your gift cards to your account so leftovers are used on the next purchase.
It also remove the exp. date
It’s literally giving money to the company, some of the gift cards EXPIRE so it’s never worth giving a gift card to anyone
I NEVER forget!!! I'm poor enough.
How is it a scam when it is the buyers who didn’t use the cards??! Scaremongering
I squeez every last bit possible outt of the cards
I wish my problem was forgetting to use what’s left on a gift card.
I have a $50 Amazon gift card that got wet and the claim code wore off so 5 of the 15 digits aren’t readable. Even though the 16 digit number and barcode are perfectly legible, they won’t replace the card 🙄 I always knew gift cards were scams, but these newer paper ones are a whole new level of scam 😡
I spend every dime of every PlayStation card I've ever bought 😂
Ya I didn't spend all mine and then they toke the rest of my money away
I always thought they were a scam cause you have to spend more than what's on them to use them all, so they'd make the initial value and a few bucks extra. interesting to see it goes the opposite way
Nowadays you don’t spend as much for card
Most places offer a gift card for exact amount
Depends on company I guess
I don’t think for example chick fil a would charge a 3-5$ fee if you get a gift card
But Yeaa they probably know someone’s not gonna use the whole amount
I’ve known this for so long
Where do u learn all this, do u just randomly search something up related to finance?
In short: It's not a scam until you allow it to be
i know my mom just git me a mastercard giftcard and it doesnt even work. i am very sad.
Thanks I have $20 bucks left on a longhorn steakhouse gift card I better use it
I mean, it's not a scam when the lost money is due to negligence
The problem with this video is on completely different because I use all the money on the gift cards that I get
Thats actually crazy to think about, my amazon account has like $2.36 gift card money left over on it and no matter how hard I could try I would never be able to spend all of it. Now imagine millions of other people like me and you can see how they make a profit, its actually genius on their part
It doesn't help that say you got a $20 gift card, often the in game item will cost say $18.35, and the rest is to small an amount, this losing you money