I found this site while taking a second-look at holiday gift cards. With the holiday season coming up, a lot of people are going to be getting gift cards that they may not ever really use. Selling these gift cards is always an option, but I actually found out that you might be able to do more than just sell unwanted gift cards on this site. Can you really make money with Raise.com?
As it turns out, the answer might be yes. I will put a little bit of research into almost any side hustle idea… and this one was no exception. Believe it or not, there may be some money to be made in the gift-card market. But will Raise.com help you to put some extra cash in your wallet?
Here is what you need to know.
What Exactly Is Raise.com?
Raise is technically an online gift card marketplace. This means that you can use the site to buy and sell gift cards of all kinds. Obviously, you could use Raise.com to sell gift cards that you don’t want anymore, so that you could get some cash out of them instead of being forced to spend the money on something you are not actually interested in.
But… this is only part of what makes the website awesome. The other great thing about it is that it lets you buy gift cards at a discounted rate. Yes, if you play your cards right (pun intended) and do things correctly, Raise.com could actually help you to save quite a bit of money. Here is how to do it.
How Much Can You Actually Earn On Raise.com?
Ok, so you don’t actually earn money on Raise.com unless you have some gift cards to sell. But while being able to sell gift cards you don’t need is really cool, I was actually a lot more interested in buying gift cards here… and I will explain why.
They offer all kinds of gift cards, and most of them are at discounted rates. Take a look at the percentage discounts you can get on gift cards to name-brand stores here. These are obviously just examples, and the numbers change… but these are still good examples of how you can save money if you plan to spend money somewhere.
As you can see, there are some pretty awesome discounts for cards offered here, but let’s just focus on one for now. Domino’s cards were listed as up to 13.9% off… which is really awesome! I order Domino’s a lot, actually—so it would make sense that I would check out a special rate on gift cards for them. Here is what I found after clicking on the link.
As you can see, I could buy a $50 Domino’s gift card here for just $43.02. This is actually a really good deal! Obviously, you are not going to get rich with this… but what if you regularly order Domino’s pizza? What if your family purchases a $25 order once a week? Using this deal alone could save you $28 a month—which is more than enough to buy an additional pizza and some bread sticks!
What if you saved this money up and put it into a savings account every week? Instead of paying full-price for pizza, you could be putting $336 into your savings account after a full year!
Of course, you would save even more by skipping the delivery pizza and opting to cook something yourself… but still, the fact remains that if you are already planning on spending money somewhere, gift cards from Raise.com could absolutely help you to mitigate some of the costs and save you some cash.
What Does It Cost To Use Raise.com?
So, this website gives you better prices on gift cards—basically enabling you to save extra money. This is really awesome because it is kind of like giving you a discount code—except that since this is the method of payment, you could even use a discount code on top of it—which is super awesome!
Imagine if I had a $5 discount code for pizza, but also paid with the gift card I bought at a 14% discount. The savings would be pretty significant!
But… I also found myself wondering if this site charged any fees. If they did, the savings could easily shrink. So I checked into this, and here is what I found.
First of all, there are two different types of gift cards to buy here. There are physical gift cards, and electronic versions. The physical gift cards are shipped free of charge, and the electronic gift cards are actually delivered right to your account… so you won’t have to worry about shipping charges at all, in either case.
I am also fairly positive that there are no fees associated with buying the gift cards. From the looks of it, they come exactly as priced… and do not charge anything extra.
Now, when you are selling gift cards, there is a fee deducted from the payout you receive for them (in addition to the payout not being the full price of the card). This fee is $1 or 1% of the card value, whichever is greater.
So there is a small fee associated with selling, but buying is a no-brainer. Super easy! Either way, though, it is an awesome deal. You get to sell and/or buy gift cards, getting rid of cards that you don’t want for cash, while finding ways to save money on purchases that you would be making anyway. And of course, why not pay less for gift cards that you are going to be giving out as gifts anyway?
Are There Any Non-Monetary Costs Associated With Using Raise.com?
This is a pretty straightforward gig. The biggest non-monetary cost associated with this side-hustle idea is the time that you would need to put into it. You would also need to be at least a little bit strategic, as you would want to buy the gift cards that you would definitely use.
You would also want to buy enough in gift cards to get as much of a discount as possible, without buying so much that you would end up with a few dollars wasted. The bad thing about this side hustle is that it would be very easy to end up with waste if you didn’t end up spending all of the card—so that is something to consider.
You could also end up spending more than you even planned on at first if you buy too much in gift cards. If, for example, you only need a $20 pizza, but end up with a $25 gift card and $5 extra, that kind of eliminates the point. Yes, you can always save it for later—but if you were to forget about it, you would just be out that money, which would negate your savings anyway. This could also prompt you to make another order just so that you don't waste the extra $5. But if you never planned on making that second order, you could easily see how this could lead to you spending more than you saved (this is actually a marketing tactic that gift-cards really feed into).
But… with that all being said, if you plan it out right and do the math, you could actually save some money with Raise.com. It may not be a ton of money, but money is money!
My Personal Feelings About Using Raise.com To Save Money
This website is not going to make you rich. In fact, it is actually kind of limited in what it could do for you—mostly because you have to spend money to save money with it. But… a penny saved is a penny earned, right?
And that is the idea behind Raise.com. If you use it right and plan your purchases, you could actually use it to save a fair bit of money. The situation would have to be very specific… but if you could plan ahead enough, you could save quite a bit of money on certain gift cards on this site, which is pretty cool.
I feel like this would be really nice if you were planning on making a big purchase at a very specific retailer. Before I make such a purchase, I always check online for coupon codes… so this could be another thing to check, just to see if you could help to cut down on the costs a little bit by buying a gift card and paying with that instead of paying full-cost with a credit or debit card.
This is not a get-rich-quick scheme. In fact, it is not even really a ‘get rich over a long period of time’ scheme either! But it is pretty cool, so check it out if you get the chance.
Our Final Opinion Of Raise.com
Should you check out their site and buy some discounted gift cards to save some money?
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