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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I wrote (and tweeted twice) last week about DDF user’s lubaby discovery that you could buy a Canon Elph for $59.99 and sell it back to Amazon for $98 in gift cards.

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.