Desperate shoppers are trying to save money with HUNDREDS of discounted gift cards, but is the strategy worth it?
- Replies 3
After Coles announced a 10 per cent discount on select Mastercard gift cards, shoppers have hoarded hundreds of them in an effort to save money on grocery expenses amid the worsening price inflation across the country.
But several are hailing the bargain as a ‘total waste of money', arguing that purchasing $1250 worth of gift cards just to save ‘$93.50’ is over the top. Those against the strategy added that they might actually consider the deal if it didn’t come with an activation fee for each one.
“The total cost for a $100 gift card is $94.50 ($90 for the card and $4.50 for the activation fee) and for the $250 gift card it’s $231.30 ($225 for the gift card and $6.30 for the activation fee),” read the gift card details.
The heated debate followed after a user posted a snap of the gift cards on the Markdown Addicts Australia Facebook Page on Tuesday.
Thousands of fellow members shared that they had already bought five of the cards, which is the maximum amount one can buy per transaction.
“I almost wet my pants when I saw this. I bought a few thousands worth and plan to just use them over the next few months,” one woman commented.
Another revealed that she usually doesn’t worry about these types of bargains but the sale landed on a payday. And so, she decided it’d be best to convert her grocery money to the pre-loaded cards.
A user shared a snap of the gift cards. Image Credit: Markdown Addicts Australia
“All the money I used for these gift cards were sitting there to be used over the month for groceries. I actually put an extra $56 into my grocery money by doing it this way,” she explained.
Others expressed their interest in buying the cards but later on found that none were remaining in stock at their local store.
“I saw one woman grab like twenty of them and pay in separate transactions, there were none left,” one man claimed.
“I have been to both of my local Coles and got a $100 one, the rest were long gone,” chimed another.
Mastercard gift card details. Image Credit: Markdown Addicts Australia
However, users against the idea argued that it didn’t make sense to tie all your money up for such a low return.
“You spend all your money on gift cards, then you can't activate them for at least four hours - and have to pay to do that. Not worth it,” one woman wrote.
“I barely have a spare $40 left each week… How is everyone affording to spend hundreds hoarding gift cards?”
“Don’t bother. I bought 6 and only 2 out of 6 work. The rest had no balance… I had to spend hours calling up and following up.” warned another.
Some users explained that they weren’t 'hoarding' them, they were merely swapping the cash they allocated for groceries for the cards instead. They insisted that this effectively helps them save on 'every shop'.
The discounted gift cards are now only available in selected stores.
Do you approve of the idea of hoarding gift cards to save money? Share your thoughts with us in the comments!
But several are hailing the bargain as a ‘total waste of money', arguing that purchasing $1250 worth of gift cards just to save ‘$93.50’ is over the top. Those against the strategy added that they might actually consider the deal if it didn’t come with an activation fee for each one.
“The total cost for a $100 gift card is $94.50 ($90 for the card and $4.50 for the activation fee) and for the $250 gift card it’s $231.30 ($225 for the gift card and $6.30 for the activation fee),” read the gift card details.
The heated debate followed after a user posted a snap of the gift cards on the Markdown Addicts Australia Facebook Page on Tuesday.
Thousands of fellow members shared that they had already bought five of the cards, which is the maximum amount one can buy per transaction.
“I almost wet my pants when I saw this. I bought a few thousands worth and plan to just use them over the next few months,” one woman commented.
Another revealed that she usually doesn’t worry about these types of bargains but the sale landed on a payday. And so, she decided it’d be best to convert her grocery money to the pre-loaded cards.
A user shared a snap of the gift cards. Image Credit: Markdown Addicts Australia
“All the money I used for these gift cards were sitting there to be used over the month for groceries. I actually put an extra $56 into my grocery money by doing it this way,” she explained.
Others expressed their interest in buying the cards but later on found that none were remaining in stock at their local store.
“I saw one woman grab like twenty of them and pay in separate transactions, there were none left,” one man claimed.
“I have been to both of my local Coles and got a $100 one, the rest were long gone,” chimed another.
Mastercard gift card details. Image Credit: Markdown Addicts Australia
However, users against the idea argued that it didn’t make sense to tie all your money up for such a low return.
“You spend all your money on gift cards, then you can't activate them for at least four hours - and have to pay to do that. Not worth it,” one woman wrote.
“I barely have a spare $40 left each week… How is everyone affording to spend hundreds hoarding gift cards?”
“Don’t bother. I bought 6 and only 2 out of 6 work. The rest had no balance… I had to spend hours calling up and following up.” warned another.
Some users explained that they weren’t 'hoarding' them, they were merely swapping the cash they allocated for groceries for the cards instead. They insisted that this effectively helps them save on 'every shop'.
The discounted gift cards are now only available in selected stores.
Do you approve of the idea of hoarding gift cards to save money? Share your thoughts with us in the comments!
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