CBS - How to save on gift cards

C

corkie26

New Member
Hi

I am not sure where to post this...

A saw this website on our local CBS station and wanted to share it with everyone.

A little over a week ago CBS aired a story that just sounded too good to be true so I had to check it out for myself. It's an auction site and they auction all types of gift cards.... eg Kroger, Target, Wal-Mart, TGI Friday’s, Coach, Best Buy, Ulta etc.

Here is how it works. You buy credits. It costs 3 credits to join an auction (approx. $3 win or lose). But there is no cost to bid, and the bids only increase by a penny at a time to ensure the cards sale price stays low!

Once you win, you claim your prize and it comes in the mail. So my deal worked out like this -

Auction Credits Used - $3.00
Winning Price of Card - $0.10
Certified Shipping - $4.99
TOTAL COST $8.09 for a $50 Target Gift Card

Here is the site : http://www.dfwbid.com

Link to CBS : http://cbs2.com/consumer/online.bargains.saving.2.988382.html
 
MyEmptyCanvas

MyEmptyCanvas

Queen of Freebies
That's a nice profit to whomever wins (if it's actually 100% legit)...
The person dishing out the cards is gaining a big loss though... :rofl:
I'll go read more of the story from your links. Nice find!

**Edit : OKay I just came from the site. Seems like there can only be 1 winner (or maybe 2 if someone uses "Penny Buy" and wins). If you spend all day dishing out the $2.99 auction fee to join in (and lose each time) you'll eventually waste the same amount of money you would've if you had just bought the gift card from the store to begin with...(except you won't have to pay shipping :rofl:).

Even with that said, it still sounds like fun to at least try.... once...or twice.
 
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ByandBy

ByandBy

New Member
corkie26 said:
Hi

I am not sure where to post this...

A saw this website on our local CBS station and wanted to share it with everyone.

A little over a week ago CBS aired a story that just sounded too good to be true so I had to check it out for myself. It's an auction site and they auction all types of gift cards.... eg Kroger, Target, Wal-Mart, TGI Friday’s, Coach, Best Buy, Ulta etc.

Here is how it works. You buy credits. It costs 3 credits to join an auction (approx. $3 win or lose). But there is no cost to bid, and the bids only increase by a penny at a time to ensure the cards sale price stays low!

Once you win, you claim your prize and it comes in the mail. So my deal worked out like this -

Auction Credits Used - $3.00
Winning Price of Card - $0.10
Certified Shipping - $4.99
TOTAL COST $8.09 for a $50 Target Gift Card

Here is the site : http://www.dfwbid.com

Link to CBS : http://cbs2.com/consumer/online.bargains.saving.2.988382.html
Click to expand...

The problem there is that there is never a set price for those auctions to end at so you never know exactly what you'll end up paying for a giftcard on there. been there done that.....

We had someone spam this forum awhile back ( not you) about that and said you can buy a giftcard for such and such an amount, but turns out you have to buy credits to enter the auction then BID then hope like hell you are able to win it at a decent price.

For instance./..right now there is a Walmart card ($50) going for $32.50... so forth so on.
 
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ByandBy

ByandBy

New Member
MD MOMMY said:
I don't really get how it ends though..it's weird.
Click to expand...
It basically ends when nobody bids at the last second etc. So, say if there was 3 seconds and nobody got a bid in within those seconds then it ends. As long as, someone bids it keeps putting time back on it until nobody does it anymore and it ends.
 
D

deejay

New Member
dfwbid scam

OK, Here's how the scam works. You and dozens of others buy into an auction for 2.99 each. Price goes up one penny for each bid. At any time during the auction there may be a "penny buy winner". So basically you have to sit on the auction forever or just get real lucky. I spent numerous wasted hours and never won a penny buy and never won a cheap auction. Not to say that you might be luckier than I was. The 3 cards I received actually cost me more than if I had bought them outright because of buying into other auctions only to walk away for 2 minutes and having the auction close to another bidder. They also charge 4.oo+ to ship each card. If you've got nothing but time and don't mind paying to bid you might get lucky! The auction site is making plenty of money because everyone that is bidding has paid 3 bucks for the priviledge.:)
Some auctions go on for days, others end quickly. You just never know but if only 20 people bid on a $50. card that has more than paid for each one. And if some of the bidders are actually not legitamate the site is making a killing. Might try starting this myself. What do ya think??:)
 
MD MOMMY

MD MOMMY

New Member
MyEmptyCanvas said:
That's a nice profit to whomever wins (if it's actually 100% legit)...
The person dishing out the cards is gaining a big loss though... :rofl:
I'll go read more of the story from your links. Nice find!

**Edit : OKay I just came from the site. Seems like there can only be 1 winner (or maybe 2 if someone uses "Penny Buy" and wins). If you spend all day dishing out the $2.99 auction fee to join in (and lose each time) you'll eventually waste the same amount of money you would've if you had just bought the gift card from the store to begin with...(except you won't have to pay shipping :rofl:).

Even with that said, it still sounds like fun to at least try.... once...or twice.
Click to expand...

See the person dishing out the gift cards doesn't loose because each person is putting out the $3.00 to join so if they have say 20 people they are making money. Also the shipping is $4.99 or whatever, they are also making money on that aspect.
 
ByandBy

ByandBy

New Member
deejay said:
OK, Here's how the scam works. You and dozens of others buy into an auction for 2.99 each. Price goes up one penny for each bid. At any time during the auction there may be a "penny buy winner". So basically you have to sit on the auction forever or just get real lucky. I spent numerous wasted hours and never won a penny buy and never won a cheap auction. Not to say that you might be luckier than I was. The 3 cards I received actually cost me more than if I had bought them outright because of buying into other auctions only to walk away for 2 minutes and having the auction close to another bidder. They also charge 4.oo+ to ship each card. If you've got nothing but time and don't mind paying to bid you might get lucky! The auction site is making plenty of money because everyone that is bidding has paid 3 bucks for the priviledge.:)
Some auctions go on for days, others end quickly. You just never know but if only 20 people bid on a $50. card that has more than paid for each one. And if some of the bidders are actually not legitamate the site is making a killing. Might try starting this myself. What do ya think??:)
Click to expand...

Not only that but can you imagine how they probably have a small team who has usernames that bid on items too, but never pay because they probably are driving it up. Nice thought. Too many scams out there these days I say. But, it is a great concept to make money from others.
 
MD MOMMY

MD MOMMY

New Member
TOTALLY..I tried it. There were people who weren't there the entire auction then they "popped" in every time last minute.. It's a total scam IMO and it's not very much fun being glued to the computer!
 
MyEmptyCanvas

MyEmptyCanvas

Queen of Freebies
MD MOMMY said:
See the person dishing out the gift cards doesn't loose because each person is putting out the $3.00 to join so if they have say 20 people they are making money. Also the shipping is $4.99 or whatever, they are also making money on that aspect.
Click to expand...
I know that's why I put in the " **Edit " section of my comment...
 
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