Desperate shoppers are buying hundreds of discounted gift cards in a bid to save money from the rising cost of living – but are they worth it?

  • Desperate shoppers are buying discounted gift cards in a bid to save money
  • Shoppers say they use gift cards for groceries or gas
  • Cards are 10% off, but users still incur activation fees

Desperate shoppers are buying Mastercard gift cards for 10% off as the soaring cost of living continues to impact the average household budget.

But some people call the deal a “waste of money” and say buying $1,250 worth of cards to get a “saving” of $93.50 is overkill.

Most of those opposed to the idea of ​​hoarding the cards said they would consider the deal if the store waived the activation fee of $4.50 and $6.30 for each.

But some people call the deal a “waste of money” and say buying $1,250 worth of cards to get a “saving” of $93.50 is overkill.

Most people against the idea of ​​hoarding the cards said they would consider the deal if the store waived the $4.50 and $6.30 activation fee for each.

Most people against the idea of ​​hoarding the cards said they would consider the deal if the store waived the $4.50 and $6.30 activation fee for each.

The fierce debate raged after the deal was posted on the Markdown Addicts Australia Facebook page on Tuesday.

Survey

Would you buy cards on sale?

  • Yes, what a great deal! 6 voices
  • No, the savings are too small to care! 21 votes

Thousands of people revealed they had already purchased five of the cards – the maximum available per transaction.

“I almost wet my pants when I saw this. I buy a couple thousand of these and only use them for a few months,” one woman said.

While another revealed she usually doesn’t mind these deals, but the sale landed on payday – so she traded in her grocery money for the preloaded cards.

“All the money I used for those gift cards was there to be used during the month for groceries, so I actually put an extra $56 into my grocery money doing this way,” she said.

Others said they would like to get some of the cards back, but found they had all been sold.

How much do the cards using the discount cost?

For $100 cards, there is a $4.50 activation fee. The total cost of the card is therefore $94.50.

For $250 cards, the activation fee is $6.30. The total cost of the card is $231.30.

“I saw a woman grabbing about 20 and paying in separate transactions, there were none left,” one man said.

“Went to my two local Coles and got one for $100, the rest was long gone,” said another.

People opposed to buying the cards said it didn’t make sense to tie up all your money for such a low return.

“You spend all your money on gift cards and then you can’t activate them for at least four hours – and you have to pay to do it. It is not worth the trouble.

“I barely have an extra $40 left every week – how does anyone afford to spend hundreds on gift cards?” a woman asked.

Others explained that they don’t “hoard” them, simply exchanging their cash that is to be used for groceries for the cards and thus saving on “every store.”

Discounts are only available in store.

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