The rate of a 500 dollar Xbox Live gift card can vary depending on several factors. In the open market, it is often traded at a value close to its face value. However, there are times when external elements can influence the rate.

For instance, during special promotions or sales events by retailers who sell these gift cards, there might be some fluctuations. Sometimes, they could offer additional bonuses or discounts that might slightly affect the perceived rate. If a store is giving away extra credit with the purchase of a 500 dollar gift card, it effectively changes the rate in terms of what the consumer gets for their money.
Moreover, the supply and demand dynamics also play a role. If there is a high demand for Xbox Live gift cards, perhaps due to new game releases or increased interest in online gaming on the Xbox platform, the rate might remain stable or even increase slightly as sellers try to capitalize on the demand. On the other hand, if the supply is abundant and demand is low, the rate could potentially be more flexible, with some sellers offering the gift cards at a slightly discounted rate to attract buyers.