More than $100 billion is spent each year on gift cards, and consumers can often get them at a discount from people who are selling them secondhand. However, consumers need to be cautious to make sure they know what they are paying for.

Experts say that consumers should always confirm the gift card balance before purchasing them secondhand. This can be done by dialing the number on the back of the card. However, it is important to do this before exchanging money.

Anyone who does purchase a used gift card should spend the balance soon since they are not the only one who has the information on the card. This should hopefully protect against fraud.