How to Shop Safe & Save Money on Cyber Monday

Consider Buying Discounted Gift Cards Online

Instead of purchasing physical gifts, many people will buy family members, friends or co-workers gift cards for the holidays. In fact, according to the TD Bank Holiday Shopping Poll, 64% of respondents said they plan to purchase gift cards this year.

“With the majority of consumers looking to spend the same as last year, gift cards are a perfect option to keep holiday spending in check,” says Nandita Bakhshi, Executive Vice President, Head of Products, TD Bank. “Giving a gift card reduces shopping stress, you spend exactly what you intend to, and are less likely to get caught up in the season and spend more money than planned.”

But one reality about gift cards is that they often go unused. As a gift-giver, that can work to your favor since an ongoing supply of unused gift cards means that you don’t have to spend $50 to get someone a $50 gift card. In fact, there are thousands of discounted unused gift cards available for purchase at savings of up to 30% off the face amount of the gift card.

Here’s how it works. You have the option to buy a discounted gift card through reputable gift card depots or an online gift card network such as’s Gift Card Exchange, which is the largest in the country. While online, you’ll see a slew of retail gifts cards, including Target, GameStop, iTunes gift cards, and more. You simply decide on the store and see what gift card amounts are available and at what discount. As of Monday evening, on Card Hub’s Gift Card Exchange, there was a $50 H&M gift card being offered for $40, a 20% savings; a $40 Barnes & Noble gift card available for $30, a 25% discount; and a $200 Home Depot gift card being sold for $140, a 30% discount.

“The beauty of buying someone a discounted gift card is that they’ll never know you paid up to 30% less than face value for it,” says Card Hub CEO Odysseas Papadimitriou. He adds: “As far as they’re concerned, a gift card’s value is equal to the amount of money it has on it, and not a penny less.”

Card Hub also lets consumers sell their unused gift cards for cash, which could come in handy if you need a few extra bucks for holiday shopping on Black Friday or Cyber Monday.

Snag Extra Perks With Your Rewards Credit Card

Speaking of cards, it’s safer to use a credit card online than a debit card because you get greater protections against fraud and you can dispute unauthorized charges. You may also get bonus rewards depending on the plastic you choose to use. And major credit card issuers are pulling out all the stops to woo their cardholders on Cyber Monday and in the days leading up to it.

For instance, American Express is offering 5X rewards through the New Year, as well as a host of deals for Cyber Week (November 21- November 30). Capital One is tempting its customers with the chance to earn 40-100% more rewards on purchases made through its Perk Central online shopping portal from November 25 through November 28.

Case in point: some of the bonus rewards offered through Perk Central from Black Friday through Cyber Monday include:

  • Deals for the Fashionista: (100% rewards increase), (40% rewards increase)
  • Deals for the Techie: (100% rewards increase), (67% rewards increase)
  • Deals for those with Kids: (100% rewards increase), (40% rewards increase)

Chase and Discover have special holiday-shopping promotions, too.

Don’t Forget Cyber Safety

While you’re salivating over holiday bargains, don’t forget to exercise some basic online shopping safety, too. A recent TransUnion survey found 74% of Americans surveyed plan to do at least some of their holiday shopping online. At the same time, 35% of Americans surveyed said they were more afraid of becoming the victim of identity theft during the holiday shopping season.

To avoid this problem, use the following strategies.

Before you start Web surfing on Cyber Monday or earlier, consider changing your account passwords and keep a list of them in a secure place. For your passwords and PIN numbers, select a random mix of letters, numbers and special characters, making it harder for identity thieves to victimize you. Don’t make the mistake of using your address, date of birth or something else that could be easily guessed.

Also, only shop at trusted sites and before you make an online purchase look for an “s” in the address box (i.e. https://), which indicates that it’s a secure site.

Finally, since you may be shopping at many sites or may be subjected to a lot of pop-up ads and other things, it’s best to make sure your computer has spam filters, anti-virus and anti-spyware software and a secure firewall.

Shopping online during Cyber Monday can be fun and convenient, but take care to make your Web-based holiday shopping safe, too.

Watch below to see which Black-owned businesses folks are supporting this holiday season