Have you ever received a gift card for a store you never shop at or for a product you don’t need? It can be frustrating to have unused gift card balances sitting around, but there are ways to unlock their value and get cash in return. In this article, we’ll explore some tips and tricks for turning those unused gift cards into money in your pocket, so you can make the most of your holiday or birthday presents.
How can you turn your unused gift cards into cash?
By selling them through online marketplaces, gift card exchange websites or to friends and family.
What are some popular gift card exchange websites?
Some popular gift card exchange websites include Cardpool, Raise, and Gift Card Granny.
Is it legal to sell gift cards for cash?
Yes, it is legal to sell gift cards for cash in most states in the US, but there may be some restrictions or regulations in certain states.
How much money can you expect to get for selling a gift card?
The amount of money you can get for selling a gift card depends on factors such as the brand, value, and demand.
Can you use a gift card to buy another gift card?
In most cases, no.
After reading this blog post, users will be empowered to unlock the value of their unused gift cards and turn them into cash. By following the suggested steps and utilizing the recommended resources, users can avoid the frustration and disappointment of having gift cards go to waste. With these strategies, gift cards can truly become a valuable asset rather than a forgotten burden.
But will you? About 6 percent of all gift cards are never used, according to Anduro Marketing. Rather than losing money, why not sell the card? The market has greatly consolidated in the last year. Most gift card websites now focus on selling cards at a discount or buying in bulk. The two main sites that still buy unwanted gift cards from individuals are Raise and Cardpool and they have very different business models. Cardpool buys cards directly from consumers. Raise lets you list the cards you want to sell on their marketplace. Founded in , Cardpool buys physical and e-gift cards from about major retailers, including clothing and department stores, movie theatres, jewelry and electronics stores, restaurants, pet and auto parts stores, and supermarkets. The process is simple and quick. Just enter the brand, card code and balance. Once that information is verified, Cardpool will make you an offer. There are two payment options Amazon eGift card or a check in the mail. In the next few months, the company plans to offer a few other payment options, such as Venmo, PayPal and Western Union. Cardpool CEO Jones pointed out that the company received some bad reviews last year. The site now has new management, he noted. Raise is a marketplace for selling gift cards. It accepts listings for thousands of major brands for free. You get to set the price. If the card sells, Raise collects the money from the buyer, deducts a 15 percent fee and forwards the balance via check, PayPal Funds or ACH direct deposit. Since Raise acts as the middleman in the transaction, neither the seller nor the buyer should worry about fraud. How much of a discount do you need to offer to get that card to sell? Raise can help you with that. If you want your card to sell in a couple of hours, you might want to be more aggressive with your discount. Otherwise, you could get burned. Remember A thief can drain the money stored on a card even if you have the piece of plastic in your possession if they trick you into giving them the number on that card. Want more tips like these? Sign up for our newsletter and follow us on Facebook , Twitter and Instagram. IE 11 is not supported. For an optimal experience visit our site on another browser. Better Logo. Share this . NBC News Logo. Follow better. Search Search. By Herb Weisbaum. How to tackle post-holiday bills Jan. Good Cents Holiday credit card bills rolling in? Here are 3 things you can do to pay them off. Herb Weisbaum.
Prepaid2Cash is an app that allows you to easily scan your prepaid Visa, Mastercard, and American Express cards. Plus, they also accept gift cards from over popular brands like Walmart , Best Buy , Target , Nike , and more! The highly-rated P2C app for iOS and Android will scan your card in seconds and get you your cash payout fast! After verifying your card details and submitting your transaction, you can choose to receive your payment for a prepaid card in as little as 15 minutes via debit card, or on the next business day via direct deposit to your bank account. CardCash accepts gift cards from a wide variety of retailers and features a straightforward selling process. Shopping around for a gift card? Likely one of the most well-known websites on this list, Raise. Looking to buy a gift card? You can sell your unwanted gift cards with confidence on GiftCash. In the end, many users report that it only took about half as long as expected to receive their payment! I had a great experience with all of them and highly recommend! Amazon has literally everything, so going this route could be very appealing for anyone who likes to shop online. This method not only applies to any prepaid gift card you have, but balances of any amount are accepted as well. But note that this only works for prepaid cards and will not work for any store or brand-specific gift cards. Here are the steps for redeeming your unused prepaid cards on Amazon. Check out all of our current gift card deals! Payout options Bank account, debit card, or Bitcoin Wallet. Retailers accepted More than brands and valid prepaid cards. Retailers accepted More than 1, brands. Payout value You set the value of your gift card! Retailers accepted More than 4, brands, though there are many brands with restrictions. Payout options Redeem for Amazon Cash on your gift card balance. Retailers accepted ALL prepaid.
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