Some commenters expressed doubts, but it worked like a charm, I used the Amazon trade-in prepaid return label and got $196 in Amazon gift cards for just $119.98.
There was a limit of 2 trade-ins per Amazon account but some people have multiple Amazon accounts or have Amazon accounts from their siblings, parents, kids, or spouses, so they took full advantage of the arbitrage situation on all of them.
Of course it’s always better to have all of your gift cards in one place for that next big purchase, so DDF user luckyluck correctly refers people to my March post about locking in cheap Amazon Prime.
The trick with that deal was to buy multiple Prime gift subscription for $79 to lock in Prime for future years for just $79 instead of $99. Personally I locked in 10 years of Prime at $79. The reason I was willing to do that was that the Prime gift subscription can always be turned into an Amazon gift card if you want to cash out of the gift.
That deal is long dead but the same underlying logic applies here.
You can buy 2 Prime Gift subscriptions for $99 each via this link from your additional Amazon accounts that now have $196 in Amazon gift cards due to the Canon arbitrage. You’ll pay just $2 of actual cash to get both of those. Then you can apply those Prime gifts to your main Amazon account, and assuming that your main Amazon account already has a primary Prime membership, it will just turn those 2 Prime gifts into a $198 gift card balance now attached to your main account.
And that way your entire gift card balance will be in one account instead of floating around multiple Amazon accounts.
Amazon offers free shipping with $35+ orders or get free next-day shipping on all orders with a free trial of Amazon Prime. Prime members can share benefits with a Household member here, allowing them to double up on Amazon Prime promos! A 6 month trial and discounted Prime membership is available with Amazon Student. EBT/Medicaid Cardholders can save on Prime Membership here.
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10 Comments On "Got In On The Canon Arbitrage For Cheap Amazon Gift Cards From Multiple Accounts? You Can Merge Your Gift Card Balances Into One Amazon Account"
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Will this work if you already have an Amazon student prime membership and try to apply the regular prime gift to your account?
You say that thou locked in for 10 years of prime membership. Don’t you have it free with a platinum amex card ?
@Ari
I believe if u have student and try to apply a prime membership, it will offer you to convert to a gc, but I am not positive. I believe that, either way, you have an option to confirm it either way.
The case where you have to be very careful is if you are not a primary prime member, but you share prime as part of a “household”, if you do this trick it will remove you as a shared prime, and enroll you in a new Prime membership as the primary member. I think this post should be edited to include a warning for that.
@ yanky
I think that gives u free shoprunner, not amazon prime.
For people like me in NJ it will be more than $2, they charge tax but you do get the full amount including the tax converted into a GC.
@yanky: It was a signup bonus at one point, not something that comes yearly with the card.
to make sure I understood I can use the gc in my wife’s amazon to buy prime and then gift it to myself and apply to my prime account as a balance? Will it be used automatically to renew prime once the year is up on my current prime? I don’t plan to renew which is why I am asking.
@lb:
No, if you currently have a primary prime membership then it will ask if you want to turn it into a gift card.
It won’t renew your Prime for another year.
Thanks
This is dead right?
@David:
Buying the cameras and making money off them? Yea.