Gift Card Frauds And How To Prevent Them
Both sellers and buyers of gift cards can be a victim of fraudulent activities. But don’t worry—you can protect yourself. Armed with knowledge, you can dodge those scams and even get the highest gift card rate possible.
The most effective way to avoid getting scammed is to be aware of the common types of gift card scams. The following are the red flags to look out for whenever you are buying and trading gift cards for cash.
The gift cards sold at online auction sites are often very cheap, making them seem like fantastic deals. But beware—you may be getting scammed. It’s safer to avoid online auction sites because it is where scammers lurk. What they do is sell gift cards that haven’t been activated or cards with very low balance but sold at high prices. The risk of getting ripped off online is high because you can’t know for sure if the gift cards are real or not.
Some buyers will ask to see the actual photo of a gift card or listen to a balance inquiry call so they can make sure that what you are selling is real. While it may seem harmless and reasonable, this gives the buyer an opportunity to scam you. Once they get the code, they can already use it to buy things. Before you know it, the card has been drained and no payment has been made.
The best way to sell your card is to use a reputable gift card trading application. Make sure to read reviews about the app before selling your cards. Compare extra charges or commission fees so you will be able to determine which one offers the highest gift card rate.
Darafunmi Ola
2 mins read
Travel / Lifestyle
December 21, 2021
Both sellers and buyers of gift cards can be a victim of fraudulent activities. But don’t worry—you can protect yourself. Armed with knowledge, you can dodge those scams and even get the highest gift card rate possible.
The most effective way to avoid getting scammed is to be aware of the common types of gift card scams. The following are the red flags to look out for whenever you are buying and trading gift cards for cash.
Red flag #1: Cheap gift cards at online auction sites
The gift cards sold at online auction sites are often very cheap, making them seem like fantastic deals. But beware—you may be getting scammed. It’s safer to avoid online auction sites because it is where scammers lurk. What they do is sell gift cards that haven’t been activated or cards with very low balance but sold at high prices. The risk of getting ripped off online is high because you can’t know for sure if the gift cards are real or not.
Red flag #2: Asking for gift codes before the purchase
Some buyers will ask to see the actual photo of a gift card or listen to a balance inquiry call so they can make sure that what you are selling is real. While it may seem harmless and reasonable, this gives the buyer an opportunity to scam you. Once they get the code, they can already use it to buy things. Before you know it, the card has been drained and no payment has been made.
The best way to sell your card is to use a reputable gift card trading application. Make sure to read reviews about the app before selling your cards. Compare extra charges or commission fees so you will be able to determine which one offers the highest gift card rate.
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Darafunmi Ola