Visa and Mastercards

Why do people pay more than face value for Visa gift cards?

I've sold Visa gift cards on eBay and it boggles my mind that people pay more than face value for the gift cards. Right now, there is a $200 card selling for $300+! :confused: My question is, why would you pay so much more for such a card? I noticed that most of the people who bid on my card were people from outside the US, so does it have anything to do with currency exchange rates or wanting to avoid some sort of extra fees? That could have made sense, except that people are paying WAY more than face value. So what is going on? Can anyone shed some light on this for me? Fantine, there is no reason to be mean!

Public Comments

1. It may be they can not legally obtain US credit cards in their own countries.
2. It increases their personal dignity and sense of self-worth to be seen using a credit card and makes them look rich. This was the theory behind state food stamp cards in the U S for poor people since they were selling food stamps to get cigarettes. A computer list of things you can buy with food stamps rejects unacceptable items automatically.