As I originally indicated, right now I just stalk Raise for Target cards and then convert to Disney using the 5% Red Card thingie.
My specific question about the eBay component is that when I followed this thread in the past, I recall that folks were buying eBay cards from Target and then buying Target cards from eBay through Gift Card Mall, but I think I'm missing something there because there's no discount from Gift Card Mall and in fact, there's a shipping charge. Is it just about getting the eBay bucks when they are double (or more) or am I not looking at the right eBay listing?
A lot of us here have given up on Raise and similar gift card reseller sites because (1) the discounts for Target have not been very good lately, usually < 5%; and (2) you can't know where the gift cards you're buying from these sites come from, and whether there's any fraud associated with them. Instead, many of us buy Target cards as a starting point from our local grocery stores when they run a fuel bonus, or eBay when they run an eBay Bucks bonus or other sale.
Like
@Vernie822,
@JKalai,
@wendow,
@Marionnette et al. already noted, buying from GCM really only makes sense when eBay is running an eBay Bucks promotion, which offers 2x, 3x, 4x, and 5x bonus Bucks (or 4%, 6%, 8%, and 10% eBay "cash" back that you can use towards eBay purchases, including more gift cards, next quarter). You can earn up to $100 per transaction, and up to $500 eBay Bucks per account, per quarter. So for example, if you were to buy $900 in Target cards from GCM, you'd pay $7.94 extra in shipping, but potentially get $54 eBay Bucks on a 3x bonus, $72 on a 4x bonus, and $90 on a 5x bonus.
Right now, in April, we're in a redemption month, which is when eBay Bucks certificates have been mailed out for the quarter that just closed and we have 30 days to spend the Bucks. Because this is a "spend" month, we don't expect to see very many eBay Bucks offers. Come May and June, you can probably expect to see offers 3-4 a month, or almost every week. Because GCM mails out Target cards via USPS/UPS, your funds will be tied up in transit for about a week after each purchase. Sometimes your Target cards will be delivered in time for you to turn them around at Target by buying eBay cards to use for that week's promo, or you'll be stewing with the knowledge that your funds are out there and you're missing out on a new bonus.
Because of these logistics, you have to consider how much money you want to tie up in gift cards so they're available to "churn" whenever there's a good deal somewhere, how you want to allocate your funds between different retailers like Target and eBay, and which offers to jump on (because for example, if you spend all your funds on a 3x bonus and your cards are still in transit when a 5x bonus drops, you'll feel very silly). You'll also have to consider how much volume you're doing because volume is the best way to maximize your eBay Bucks earnings and Target savings, but it's also the surest way to get yourself noticed and potentially banned by Target as a "reseller."