After you have sold your card, most sites will give you a few different payment options, including cash, check, PayPal, Amazon gift cards or company credit. Some, like CardCash, will allow you to exchange one gift card for another.
Depending on where your gift card is for, you might be able to use the card to invest in a side hustle. For example, you can buy a client lunch or maybe you can buy products or tools you use for your side hustle. Sure, you can find them cheaper at a different store, but using the gift card reduces your out-of-pocket expenses.
Gift cards are a popular gift idea because they are extremely convenient; especially for the person that’s impossible to buy for. Whether or not you happen to be that person, you’re here because you probably have at least one gift card that you don’t know how to use.
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The challenge in this scheme is finding a place that will accept credit cards for Visa gift card purchases, since purchases made with American Express gift cards are processed like credit card transactions. Another obstacle is finding a place that will accept debit cards as payment for money orders, so that you can convert those PIN-enabled Visa gift cards into money orders. Where I live, I no longer have access to a money order source so this entire scheme is out of the question for me. If you can get over these two obstacles, you can use Amex gift cards to indirectly purchase money orders.
Some states require that gift card issuers allow cardholders to redeem their gift cards for cash. California law states that consumers can receive cash from the issuing retailer if a gift card has $10 or less remaining on the card. In Maine, Massachusetts, and Montana, cards with a value of $5 or less can be exchanged for cash. In Vermont, cards valued at less than $1 can be redeemed for cash. Investigate to determine if a cash exchange is an option.
Most buyers are honest, but a few bad actors give everybody a bad name. A common eBay scam is for the buyer to pay for the card and receive the card number and pin in an email. The buyer quickly makes a purchase with the card and then files a complaint with eBay stating the seller sold a bad card. Sellers that don’t follow the three safety tips above end up refunding the buyer and lose the gift card in the process.
Gift card exchanges tend to offer lower resale values immediately after the holidays, warns Romanelli. “There is so much supply coming into the market that many cards don’t sell for as high as they might in the summer,” he says. He notes that some people hold on to their gift cards for an extra month or so, in order to earn a few percentage points more in returns.
The ebay thing is going to be far more effort than it is worth. It is going to take you forever to find something an amazon that is cheaper than the average price on ebay. I\’ve found it to be impossible. Then, even if you do, the massive 13% (and change) ebay seller fee is going to hose you.
Buyers: Because Raise is user-driven, you may find better — or worse — deals than you’d find on Cardpool or CardCash. Raise does offer a 1-year money-back guarantee on all cards sold through its platform. The guarantee covers inactive cards, cards with an inaccurate balance and cards not received within 30 days of purchase.
That’s if you use it at all. This year alone, American consumers will leave more than $1 billion in store credit unused, according to CEB TowerGroup, which tracks gift card trends. Rather than leave that card to languish in your wallet, consider these options for swapping it for something you do want.
The exchange value for non-retail gift cards wasn’t as generous, though Walmart’s offer still came out ahead. For example, a $25 Starbucks gift card would net 70% of its value in cash on GiftcardZen and 71% of its value on Cardpool. The same $25 Starbucks card would net 72.5% of its value in the form of a Walmart e-gift card.
Cardpool is an online gift card marketplace where you can sell or purchase gift cards. It buys gift cards directly from sellers and then sells them directly to buyers, so there’s no user-to-user interaction. For sellers, Cardpool offers up to 92 percent of your card’s value; for buyers, it offers discounts of up to 35 percent.
Typically, in-store trade-ins offers lower resale returns than the online exchange marketplaces, says Hunter, but the payout is more immediate: “You’ve got to ask yourself if you value the dollar amount or convenience more.”
“Thank you! I just love this store.” Have you ever spoken those words after receiving a gift card as a gift, when you only go there once in a blue moon? If you have a drawer full of gift cards that you never use, you can sell your gift cards for cash and finally use that money to buy something you need.
Unused gift cards can be sold online. If you want cash for your gift cards, try listing them on eBay. Other sites such as Cardpool and Plastic Jungle also let sellers auction their unwanted or unused gift cards. Shoppers flock to eBay around the holidays, so try selling unwanted gift cards online in November and December to get the best return on the cards. If your name is on any of the gift cards, check to make sure they are transferable before listing them for sale.
If you’re now the proud owner of some gift cards you’re just never going to use, have no fear. Instead of dumping those unwanted gift cards in your junk drawer for future regifting, why not try your hand at selling or swapping them online?
Coles Group & Myer Gift Card: Coles Supermarkets, Coles Express,Myer, Target, Baby Target, Target Country, Kmart, Kmart Tyre and Auto Services, Officeworks, BI-LO, Liquorland, Vintage Cellars and 1st Choice Liquor Superstore.
A partially used gift card is a terrible candidate when it comes to regifting etiquette. If at all possible, try to avoid awkward situations by regifting a card from a friend to a relative or coworker who doesn’t know the friend.
For items like that hideous sweater from your cousin, see our guide to returning and exchanging gifts. But if the unwanted present is a little rectangle of plastic redeemable at a store you’ve never heard of or would never willingly wander into, it may seem like you’re stuck with it—or whatever item you find least offensive in that shop.
Giftcard Zen also accepts your unwanted gift cards. You can expect payment via PayPal 10-14 days after Giftcard Zen receives your card information. Gift cards are accepted for most online and brick-and-mortar retailers.
The following prepaid cards, issued by American Express that have been fully registered by the Card Member and approved by American Express, may be used to make purchases on americanexpress.com/gift: American Express Serve®, Bluebird, One VIP™ Card, and Target Prepaid REDcard® by American Express. No other prepaid cards, including single load gift cards, may be used to make purchases on this site. American Express does not accept any payment methods with addresses from the states of VT or HI for Gift Cards or Business Gift Cards.
Select Coinstar machines will also buy your gift cards in addition to your loose change. The next time you buy groceries, take your gift cards along and maybe you can exchange them for store credit! However, I recommend looking for a CardPool kiosk first as they are more prevalent.
The motivation for Walmart’s gift exchange is probably to increase store traffic, but there are many reasons retailers love getting their gift cards into the hands of shoppers. As MONEY’s Kara Brandeisky points out, shoppers are likely to overspend when given what seems like fake money. In addition, researchers have found that consumers buy items they don’t need when they use a stored-value certificate; the CEB TowerGroup consultancy has found that 65% of gift card users spend 38% more than the face value of the card.
Have unused gift cards? Need cash fast? Sell your gift cards for cash (or, another gift card) at a gift card exchange location near you. It’s super-convenient because exchange locations are available at your local check-cashing, grocery, and department store. They’ll make you an offer right on the spot and, if you accept, you’ll get paid—instantly!
Checks are usually issued within 1 business day of gift card receipt and should arrive in 5-10 business days via USPS First Class Mail. We do not issue payments via direct deposit or Paypal at this time.
Gift Cards are conveniently located at the registers and on Gift Card stands in all participating stores. Simply select the Gift Card of your choice, take to the regsiter and nominate the value you wish to add to the card. This can be any amount from $5 to $500. Your card is loaded with this amount and is ready for use at any of the participating stores located across Australia.
While you can sell just about any gift card, some sell for more than others. You are more likely to maximize your profits by selling Amazon gift cards, Starbucks, iTunes, or Walmart as these brands consistently sell close to their current card value with a discount of 5% or less. Less popular gift cards–Old Time Pottery and The Spaghetti Warehouse–sell for a 26%+ discount.
The holiday season often ends with a short stack of gift cards. Inevitably, in this stack are a few gift cards that we can’t or don’t want to use. Or maybe you returned an item but could only get a gift card back?
Each site has its own set of restrictions. Most have different maximum and minimum exchange amounts, which can be troublesome if you’re trying to sell either a low- or high-balance gift card. Generally, your card has to have a minimum balance of $10. The maximum amount varies from site to site but is somewhere between $200 and $400. Some sites have buying and selling fees that can take a substantial percentage of your payment. The best services do not have these restrictions.
It depends on what gift card you have and which one you want to trade. Trading can be more lucrative because you simply swap balances and the marketplace collects a smaller fee. But, you might need a high demand gift card like Amazon, iTunes, or Starbucks to trade. If no other traders want your card, you can earn more selling.
To exchange their gift cards, shoppers don’t even need to leave the house. Walmart’s card exchange website, Walmart.CardCash.com, lets users input their gift card’s information, and a Walmart gift card will be emailed to them once the original card’s balance is verified.
Why would you want to do this if you could easily liquidate Amex gift cards by loading them onto a Target Prepaid REDcard (aka Redbird) or Amex for Target? If you got a little overzealous ordering Amex gift cards this month and have a large amount left to liquidate after maxing out Redbird and Amex for Target, then this drawn-out method makes sense. There are several costs involved that you should take into consideration:
Gift cards are the most desired present this holiday season, according to a poll by WalletHub. But if you get a gift card under the tree from a store you’ve never heard of—or would never willingly shop at—you may find yourself looking for ways to trade your gift card or exchange it for cash.
Selling your unwanted gift cards can be an excellent way to make a little extra cash with minimal effort. Whether you sell online or in-person, selling gift cards for cash is one of the easiest ways to improve your finances and you also find a good home for your old gift cards.
Depending on the type of gift card, the amount, and the supply of similar cards, you could earn anywhere between 54% and 92% of the card’s value via an online gift card exchange, says Mark Romanelli, executive vice president of product for GiftCardGranny.com, the largest aggregator of online gift card exchanges.
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Another one is that the buyers are using cashback sites to shop on eBay and sometimes the cashback sites have promotions where they can earn way more cashback than the few extra dollars they paid for the GC.
All the websites we researched offer guarantees on your purchases. These guarantees confirm that, in the event something goes wrong like your card arrives without the advertised funds, you will get your money back. Besides looking for a money-back guarantee, we researched whether companies offer a FAQs page on their websites to address common problems and solutions. Additionally, the best sites have several different forms of communication. Whether they offer phone, email or an online contact form, you want to be able to contact the company with ease.
If you’d rather keep another service from profiting off your gift card or don’t find the exchange worthwhile—or if you’d feel less Scroogelike by giving your unwanted card away—contact your favorite charitable nonprofit and ask if they accept donated gift cards. Giving the card away could even lower your tax bill, if you itemize, and extend that holiday generosity even more.