Thursday, June 16, 2022
HomeVisaCan Money Be Added To A Visa Gift Card

Can Money Be Added To A Visa Gift Card

Can A Prepaid Card Help Build My Credit

Can You Add Money To Vanilla Visa Debit Gift Card?

You cannot build your credit score with a prepaid debit card because prepaid card issuers do not report your account activity to the major credit bureaus.

Credit bureaus calculate your credit score based on how you manage your access to credit. Do you keep your balances low? Do you pay your bills on time? Have you ever defaulted on a loan? These are all major factors that determine your creditworthiness.

Since a prepaid card doesnt have an associated line of credit, it wont require a monthly payment or any repayment of debt. This means that the card issuer will not report any of your card activity to a credit bureau, and the prepaid card will not show up on your credit history.

If youre interested in rebuilding your credit and do not qualify for a traditional credit card, we always suggest a secured credit card. These cards essentially allow you to choose your credit limit based on the amount of your refundable security deposit.

You can use a secured credit card in the same way that youd use a prepaid card, but since youll have access to a revolving line of credit, the card issuer will report your account to the bureaus so you can build a credit history and improve your credit score over time.

Whats The Difference Between A Prepaid Card And A Credit Card

The main difference between a prepaid card and a credit card is the money you spend with each. A prepaid card requires you to deposit your own money into a secure account.

Every time you use your card to make a purchase or pay a bill, the transaction total is deducted from the money you deposited. In short, youre spending your own money, much like a debit card is tied to a bank account.

A credit card is a form of revolving credit. You dont have to deposit money into a credit card account .

Every time you make a purchase using your credit card, the issuing bank pays for the transaction. You eventually pay the bank back through your monthly payment. This means youre spending the banks money at the register.

Because prepaid cards arent credit cards, they dont show up on your credit history. This means they cant harm or help your credit score. A credit card is a key tool used for building credit because your account balance, payment history, and age of the account will all appear on your credit history.

Since a bank doesnt loan you money for a prepaid card, you dont have to worry about interest charges, overdraft fees, or other added costs that credit cards have. You will likely encounter a monthly maintenance fee and may have to pay a fee for a cash withdrawal from an out-of-network ATM.

Why Is My Available Balance Different Than My Actual Balance

Typically, your Available Balance is less than your Actual Balance because your Available Balance reflects purchases you have made that have been authorized, but have not cleared your account. However, there are some cases, such as when you have returned merchandise. where the Available Balance will be more than your Actual Balance.

Also Check: Home Depot Pro Xtra Reloadable Card

Use A Gift Card Exchange Kiosk

A gift card exchange kiosk is a dependable method to transfer Visa gift cards to cash. Look for machines within select grocery stores theyre often yellow machines that look like casino slots and make similar noises.

The system requires that you enter the card information, such as card number and expiration dates. Youre then given a choice to get a cash-back offer.

Once you accept, youll need to print the voucher and bring it to a nearby cashier. Thats usually all thats needed to do to get money through this method. If you have trouble with card swipes, ask for assistance.

Not all grocery stores dont have a gift card exchange kiosk so its best to do a search first so you dont waste your time. What I like about kiosks is its a faster way to turn Visa gift cards into cash.

Other methods take days before the transaction is complete. With kiosks, youll get your money almost instantly. Make sure you bring your identification just in case.

I should mention exchange kiosks do take a small chunk of your proceedings. If you dont plan on using that Visa card anyways, its a reasonable sacrifice to make. Dont accept the offer if you dont like it you can always cancel before the process is complete.

For more in-depth steps, check out this article that walks you through selling a gift card using an exchange kiosk.

Simple Options To Convert Visa Gift Cards To Cash

Can you add more money to a visa gift card
  • Pin

Receiving gift cards is great but making sure youre actually able to use the balance is the best part of all. Thats why seeing how to convert Visa gift cards to cash can be a great way to make sure that you use whats on the card with the added flexibility of being able to spend the balance anywhere!

Perhaps you were given the card as a gift or you bought it as part of a promotion. The latter is pretty common, as youll often find stores that offer discounts or bonus deals if you buy Visa gift cards from them. This can, in turn, save you a good amount on the actual value stored on the card.

You could even have gotten it by having earned it yourself! Sites like Swagbucksoffer this from time to time, by letting you earn Visa gift cards for free by watching videos, playing games and searching the internet.

START MAKING MORE MONEY TODAY

Want to start earning more money as quickly as possible?

See what 7,800+ people said were their favorite, proven ways to make money so you can do exactly the same thing.

Get it free for a limited time!

Got it!

Check your inbox to grab your free guide!

Youll also join our mailing list to get updates on how to make and save money unsubscribe at any time at the end of each email.

But now that youve got the card, you may be struggling to figure out what to do with it. Or you could just prefer to have straight up cash to be able to use it how you want.

  • Final thoughts on converting Visa gift cards to cash
  • Read Also: How To Delete A Payment Method On Doordash

    How To Save On The Transfer Fee

    If you are going to use this service regularly, you can save on fees by enrolling in the MoneyGram Plus Rewards.

    With this program, you will save 20% on fees on your second transfer and 40% OFF on fees every fifth transfer.

    If youre transferring a large amount, then taking advantage of the MoneyGram Plus Rewards program will save you lots of money!

    Sell It On The Raise App

    Another way to convert a Visa gift card into cash is by selling it on an app called Raise. Raiseis a site where you can sell your unwanted gift cards with ease.

    Its really simple! All you have to do is find all your unwanted gift cards then list them to sell on the platform. Lastly, you will get paid either via Check, PayPal, or by direct deposit when someone buys the gift card.

    Raise is an amazing site if you have unwanted Visa gift cards or any other gift cards from stores such as Target, Amazon, and Walmart. In addition to selling unwanted gift cards on the site, you can save money when you buy other gift cards on their site.

    You can also check out their coupon section to find some of the latest deals on popular stores and brands.

    Read Also: How To Pay Airbnb With Gift Card

    How Do I Turn My Vanilla Visa Gift Card Into Cash

    The Vanilla gift card is a Visa prepaid gift card that is available for purchase in amounts from $10 to $500. Its great for special occasions and a great gift to give to people if you arent sure what to get them for an occasion.

    Similar to a regular Visa gift card, if you are looking to convert a Vanilla Visa gift card to cash, you can use all the options recommended in this post to get started. So even though you cant get money directly from a Visa Vanilla gift card, you can use the options in this post.

    How To Transfer Money To Your Bank Account From A Visa Gift Card

    How To Add Visa Gift Card To Paypal Balance

    If you have a nice, shiny Visa gift card burning a hole in your pocket, you might want to transfer the money into your bank account for your own convenience. This way, you won’t have to worry about carrying an extra piece of plastic in your wallet until you’ve gone through its full balance. But shifting the balance to your bank account isn’t as easy as simply moving the funds from one place to another. The good news is that there are several options, some of which will cost nothing more than a few minutes of your time.

    Read Also: Can You Convert Zola Store Credit To Cash

    Use Your Visa Gift Card To Buy Other Merchants Gift Cards

    If theres a particular store you shop at that doesnt accept your Visa gift card for purchases, you can use this card to buy a gift card from the store where you want to buy something.

    And if you look online, you can sometimes find these for sale for up to 20% off meaning youre getting 20% of the Visa gift card balance for free.

    This could include stores like Amazon, Walmart or even Starbucks if you were planning to convert your Visa gift cards to cash simply to get a caffeine hit.

    Alternatively, you could earn gift cards to all these stores and dozens more just by using an app like Swagbucks. Its basically like earning free coffees from procrastinating on your phone!

    Add It To Your Paypal Wallet

    Another way to convert Visa gift cards to cash is with PayPal. That is, PayPal lets you add prepaid cards, including Via gift cards, to your PayPal wallet. What this means is that youre then able to treat the balance like cash, by using it to purchase things from any merchant that accepts PayPal which is most major ones, these days.

    How can I get money off of a gift card through PayPal?

    To get money from a Visa gift card to PayPal accounts, just do the following:

  • Log in to your PayPal account.
  • Select the Wallet option at the top of the page
  • There should be an option on the left to Link a card or bank. Youll be able to find this under any existing cards or banks you have linked. Click this and continue through the prompts.
  • When you get to the point where PayPal asks you for the relevant information, add your Visa gift card details. Then click Link Card.
  • Theres a chance that you may get an error when trying to do this. If that happens to you, you may have to first register the card with the issuer so an address is linked to the Visa gift card. After that, PayPal should have no problem accepting it.

    Don’t Miss: Uber Eats Physical Gift Card

    How To Transfer Gift Card Balances To Your Bank Account Using Cardcash

    Yes, you can transfer money from most prepaid gift cards to your bank account using a service called CardCash.

    Unlike most prepaid cards, gift cards are disposable and can only be used until the balance reaches zero while most prepaid cards are reloadable and can be used indefinitely.

    Thankfully, weve found one proven method for transferring money from your gift card to your bank account.

    You can use mobile payment services like CardCash to transfer your money from your gift card or prepaid to your bank account.

    The catch? Its more expensive than just using the gift card or prepaid card to buy items. So make sure that its really the cash value that you want from the gift card.

    To transfer gift cards to your bank account using the CardCash Option:

  • Go to this page on the CardCash website
  • Enter the gift card you have Ex: Walmart
  • Enter the amount on the gift card Ex: $100
  • Click GET OFFER and an offer for how much they will pay you will appear Ex: $88.00
  • If you accept the amount, click Get $88.00 Cash
  • There will be a pop-up window asking how you will like to get paid and choose PayPal Express
  • Enter your gift card number and PIN and continue to connect with your PayPal account
  • Log-in to your PayPal account and fill the required fields
  • Click Get my PayPal Balance
  • Once the balance reaches your PayPal Wallet, you can now transfer the money to your bank account by following these steps on How to transfer from PayPal to my bank account?
  • What Are Money Orders

    Can You Add Money To Vanilla Visa Debit Gift Card?

    Money orders are a bit like an old-fashioned check. You buy them at a post office, and they get sent to the recipient after you have filled out your name, address, and how much money you want to send. The recipient can cash it or deposit the funds straight into their bank account. The money order will usually have a limited time frame that is stated on the receipt.

    Money orders are good to use if you dont want to finance a purchase through buy now pay later sites that exist.

    Also Check: How Does An Uber Gift Card Work

    Ways To Convert Your Visa Gift Cards To Cash

    Visa offers prepaid gift cards you can use for any special occasion. Whether its a birthday, wedding, or holiday, these cards are a welcome exchange.

    Since they are monetary in nature, the question arises can I turn a gift card into cold hard cash? Anyone can convert a Visa gift card to cash, but you have to do it in a specific manner.

    Allow me to explain in detail how you can perform this action. Before I start, I should let you know the type of Visa gift cards that can be converted.

    This post may contain affiliate links. That means if you purchase an item through these links, I may earn a commission at no additional cost to you. Please read the full disclosure policy for more info.

    What Is A Prepaid Card

    Prepaid cards are technically a type of debit card. Issued by a financial institution or credit card companyVisa, MasterCard, and Discover all offer themthey are deposited or “loaded” with a certain amount of money. They then can be used in person or online to purchase items or pay bills. They can also be used at ATMs to withdraw cash.

    Just like regular credit cards, prepaid credit cards have a number and an expiration date printed on the front or back, and they generally can be used in the same places. The amount of money deposited or “loaded” onto the card represents the card’s credit limitthat is, how much can be charged on it. Once the balance on the card had been exhausted, the card is worthless, unless more funds are deposited on it. In fact, a prepaid debit card can be used repeatedly, so long as the cardholder keeps adding money to the card. It may carry a monthly fee, however.

    Although the terms are often used interchangeably, these prepaid cards are not the same as prepaid credit cards. Requiring an application, a credit check, and approval from the issuer, a prepaid credit card functions like a regular : the cardholder can maintain an outstanding balance, receives monthly statements, etc. The key difference is that approval for the card is contingent on a security depositcollateral for the issuer, in case the cardholder falls delinquent in their payments.

    You May Like: Check Online At Www Apple Com Go Gcb Us

    Where Can The Gift Card Be Used

    Gift Cards can be used for purchases at most places where Visa Debit is accepted. To use your Card for payment of an online or phone purchase, the Card must be registered . After logging into the Gift Card Website, select Edit Profile to register your Card and add your Mailing/Billing Address. Once a purchase is made with the Gift Card, it is not possible to stop.

    Gift Cards may NOT be used at automated fuel dispensers*, ATMs, and certain merchant locations such as hotels, gambling establishments, rental agencies, and some online retailers. Gift Cards may not be used for automatic recurring transactions such as internet service providers and health club fees, or internet gambling, or any illegal activity. Gift cards may not be accepted for bill payment transactions. We recommend checking with the merchant to see if they accept Gift Cards for payment.

    *Gift Cards may not be used at an automated fuel dispenser but may still be used at a gas station if paying inside with a cashier processing the transaction.

    Sell Your Visa Gift Card To Other People

    Can You Use Vanilla Visa Gift Card On Cash App?

    Another option you could consider is to sell your Visa gift card to other people. While this can be one of the quickest ways to access that balance, just keep in mind that youre probably going to have to accept less money than the balance on the card to make it worth the other persons while to buy it from you.

    That is, most people will only pay a portion of the balance when theyre buying a gift card from someone else. This is because they know that its convenient for you to offload the card like this and theres also a small element of risk on their part.

    Sites like eBay or Craigslist will work perfectly for these kinds of arrangements. Make sure you keep in mind shipping costs if youre selling a physical card and, as always on these kinds of sites, keep an eye out for any scams. If something sounds too good to be true, it probably is.

    Recommended Reading: How To Use An Airbnb Gift Card

    RELATED ARTICLES

    Most Popular