September 22, 2021

How to Sell Your Gift Card for Cash

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There are times when for a birthday, or Christmas you might have got several gift cards, either from the shops where you purchase your groceries, or from the reward points program that you are enrolled in, or from your relatives, who want you to choose for yourself an item that you will enjoy. But, how many of you have received gift cards for places that you never visit and thought it would have been so good to received cash instead? By unused gift card statistics, the answer is: a lot.

But, there is really no need to add your gift cards to a collection of unused cards, since every day that goes by without you selling them for cash reduces your chances of getting cash for it (if it has an expiration date). Increasing number of sites give cash for your cards.

Too many people are still not used to thinking about having unwanted gift cards in their wallets as wasting cash. Remember, you got it as a gift. Don’t waste this gift, when you can easily exchange it for either a gift card you do want, or a cashier’s check.

While you will not get the complete balance of your card, you can still get more than 90% of its value if you do a little research and find out where you can get the most in exchange for your particular card.

Utilize sites that give cash for these cards and redeem them. The cash can be used to purchase things for your home, or to pay off bills.

When selling, it’s important to choose the right site. Some shops act as middlemen and give cash once they receive the cards, while other let you post the details of the card and wait for a buyer. However, though the latter may bring you more money, the waiting time is often high and involves considerable risk.

On the other hand, the sites that act as middlemen let you enter the details of the card, like merchant, value and expiration date. They then display the going rate for the card. If you are satisfied, you can go ahead and sell the card instantly.

The key is to find the right site and get the best deal. It’s a good idea to check for top sites and then compare the rates. Most sites mail a check, while a few either have a trade option, or other modes of payment. While it’s a good idea to trade unused gift cards for cash, ensure it’s done through legit sites. Checking for BBB rating and complaints in forums are the best way to gauge the credibility of a site.

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