Converting Amazon Gift Cards and Credit Into Cold Hard Cash

I have now been asked this question around 100+ times.

How Do You Convert Amazon Gift Cards and Credit Into Cash?

This stems from people using the Amazon Trade-In program with extensions like Textbook Arbitrage and Video Game Arbitrage or doing trade-ins like the one described in this post.

When using the Amazon Trade-In program, sellers are paid in the form of Amazon credit. To the normal person, this might seem like a waste of time and money.

Why in the world would I want to turn my cash into a gift card!?!? I can’t pay my bills with Amazon credit.

Well. There are actually a few different ways you can convert those credits back into cash….

#1. Use the gift cards/credits for Amazon to Amazon flips.

This is my personal favorite. I love using OAXRay and Tactical Arbitrage to find Amazon to Amazon flips. There is no better feeling then using the money I made from the Amazon Trade-In Program to make even more money!

#2. Buy all your shipping supplies from Amazon

This one is pretty much a no brainer if you are a seller on Amazon. You can easily order polybags, tape, scales, scotty peelers, etc for business purposes. Trading in for credits can actually save you 20%+ on a cost you are going to be paying already.

#3. Convert the cards and credits to Bitcoin using Purse.io

This is one that is new to me, but I have loved it thus far. Essentially what you do is sign up for an account and then you have the ability to buy a wishlist for someone in exchange for Bitcoin. They have an escrow program to ensure the transaction goes smoothly and conversion rates vary. You can learn more here.

#4. Buy Stuff for Friends/family and Get Cash in Exchange

I actually perform this method every week. My father-in-law shoots me a text message and asks me to order a given item. I hop onto Amazon and buy it and then he shoots me money via Chase Quick Pay. It is a nice and quick way to help those who don’t have a Prime account and to get cash out of your Amazon gift cards and credit.

#5. Shop Using Amazon Payments

If you shop online, there are 100’s of merchants that accept payments through Amazon Payments. You can shop on these sites for flips to Amazon, personal use, or even flipping to other sites such as eBay or Mercari.

#6. Buy textbooks and flip them using Bookscouter.com 

This should be part of your Textbook Arbitrage process anyway, but there are actually 100’s of other sites that will allow you to trade-in textbooks for actual cash payments. These sites usually pay out less than Amazon, but it can be a good way for you to convert those Amazon credits into cash. Bookscouter is a site that shows you where you can trade-in a certain book and makes it easy to find the highest price.

#7. Shop for yourself

Duh. buy yourself something nice. And do it with the money you made.

#8. Buy something from yourself

This one is a little strange and would be the last of my options (because this is most likely against the terms of service of Amazon – I can’t find it explicitly, but I’m willing to bet it is). If you keep your business and personal Amazon accounts separate, you could in theory purchase an item from yourself (merchant fulfilled) and say you shipped it to yourself. Once again – I would not do this, but it is an option if you were in a pinch for some reason.

And there you have it! Eight different ways to convert Amazon gift cards and credit into cash.

CW

4 thoughts on “Converting Amazon Gift Cards and Credit Into Cold Hard Cash

  • September 24, 2016 at 2:27 pm
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    You mentioned OAXRay and Tactical Arbitrage for Amazon flips. If you could only get one, which would you prefer? Is there really a need to have both? Thanks

    Reply
    • September 25, 2016 at 6:45 am
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      Both programs have their merits, but OAXRay is a lot easier for a beginner to understand 🙂

      Reply
  • September 26, 2016 at 8:59 am
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    One thing to think about..is the tax implications of using this money for yourself. When you trade those items in, they are considered income for your business. #4, 5, 7, 8 on that list all are potentially using these funds for your own personal use. I would STRONGLY recommend against commingling business funds with personal funds unless you want to cause massive problems if you get audited.

    If you are going to use this money for personal purposes, make sure you log it in whatever accounting software you are using that you are specifically removing these funds for personal purposes.

    Since this is a post geared toward a business transaction, #1, #2, and #6 are by far the best ways to convert these funds.

    Reply

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