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How To Cash Out A Mastercard Gift Card

Best Credit Cards For Purchasing Gift Cards

How to cash out gift cards and credit cards

The best credit cards to use for gift cards are ones that let you rack up as much in rewards as you possibly can. With that being said, you should choose a credit card for gift cards carefully and based on the type of rewards you hope to earn.

Here are some of the top credit cards for gift card purchases, along with where they work best:

Turn Your Visa Gift Cards To Cash By Buying And Reselling Items

This may take a few extra steps to do but it may be the only other option on this list that lets you make money from converting your Visa gift cards to cash .

As mentioned, most stores treat Visa gift cards like credit cards. This means that you can generally use them to buy items at almost any store, so keep an eye out for things that are either heavily reduced or in high demand.

In both cases, theres a good chance you may be able to resell the item at a higher price than what you paid. This, in turn, will let you eventually get cash from your gift card.

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Add It To Your Venmo Account

Similar to PayPal, you can convert your Visa gift card to cash via Venmo by putting your gift card balance on your Venmo account. And this is actually a better option than PayPal if you were planning to transfer the money to your own account as cold, hard cash.

This is because Venmo doesnt charge any fee to transfer money from your Venmo account to your bank account, unless you select the Instant Transfer option. Otherwise, the money should arrive in your account within one to three business days.

To do this, go into the Venmo app and find the option that lets you add gift cards. Theres a chance that youll get a warning message here for fraud prevention, so either try again or give Venmo customer service a call at their helpline to see if they can clear up the issue.

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Accept The Gift Card Offer

Gift Card Exchange pays up to 85% of the value of the gift card, but the amount of the offer you get will depend on the popularity of the gift card. Grocery store, gas station and large department store gift cards such as Target or Walmart generally fetch higher resale values than gift cards to smaller retailers. Though your experience may be different , we sold a $25 Best Buy gift card for $16.25.

Heres a Tip! You can choose to accept the offer. Once you successfully enter the card information, the Gift Card Exchange machine will make you an offer for the card. If you are happy with the amount offered, then select Accept. If not, select Decline. Youre not obligated to complete the transaction until you accept the cash back offer.

Resource How To Liquidate Visa/mc Gift Cards

MasterCard gift card cash back

This is an up to date resource describing some of the best ways to liquidate or spend down pin-enabled Visa or Mastercard gift cards which can be purchased at a variety of retailers including: office supply, drug and grocery stores.

Even those these cards are pin-enabled , they cannot be used at ATM machines for cash withdrawals or for cash back transactions. With that said, there are plenty of options for liquidating or spending down the cards.

Why Purchase Visa or Mastercard Gift Cards

Many people purchase Visa or Mastercard gift cards at a variety of stores during promotions which offer increased rewards, instant discounts or mail-in rebates. Discounts can often wipe out the purchase fee for these cards and allow the purchaser to make a modest profit.

Additionally, some credit cards pay up to 5x points/cash back at many of the stores which sell Visa or Mastercard gift cards. By combining discount promotions and bonus points earned by using certain credit cards, buying Visa or Mastercard gift cards can be lucrative.

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Can I Get Cash Back From A Visa Gift Card

If you have a Visa gift card and are wondering if you can get cash from it, the short answer is probably not. To fully answer the question, however, I need to clarify the difference between a Visa® gift card and a Visa Reloadable Prepaid Card. Both types of plastic may appear to be the sameboth carry the Visa logo and come preloaded with a finite dollar amount to spend. Thanks to a new law that went into effect in 2013, both now also come with a Personal Identification Number so they can be swiped as debit transactions on Point of Sale terminals. Though the two cards are similar, only prepaid cards can be used to get cash from an ATM or to get cash back from a merchant. Gift cards cannot. Read the terms and conditions on the back of your card to know for sure.

Do Not Let Companies Burn Your Pocketfight Back With Donotpay

In the golden age of consumerism, its easy to fall for greedy corporations tricks and waste your money, sometimes without even knowing it. We are here to nip the money-grabbing techniques in the bud!

With your DoNotPay account, youll be able to without worrying about losing money once the trial expires. Are you also concerned about your privacy since most free trials require credit card info? With DoNotPays virtual credit card, your privacy will remain intact.

Say goodbye to drawn-out refund and cancellation processes with the virtual assistant extraordinaire by your side.

If you need help returning an item or claiming its insurance or warranty, well help you throughout the entire procedure.

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Convert Your Gift Card To Cash With Donotpay

DoNotPay always finds a way to make complicated processes simple!

All you have to do to get cash for the remaining balance on your gift card is follow these steps:

  • in your web browser
  • Click on our Cash Back on Gift Cards product
  • Fill in your card details, such as vendor, date of purchase, and the remaining balance
  • We will send your claim to the nearest outlet for them to process. It doesnt matter if you dont live in a state with a cash back policywe will make sure your request is sent to an outlet where your cash back is required by law. You should get your money within 14 days.

    Check The Shape Of Your Gift Card

    How To Turn Visa Gift Card into Cash Using Paypal

    When you get to the Gift Card Exchange machine, youll either have to swipe your gift card so the machine can read the magnetic stripe or youll have to hold the bar code up to a scanner. There is no way to key in the card number. If your gift card is an odd shape, too big, too small, has cut-outs, or is a printout of an electronic gift certificate, you might not be able to see it at the kiosk.

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    Add It To Your Paypal Balance

    If you are looking to convert a Visa gift card to cash, try using PayPal. PayPal uses the Card Cashwebsite to help individuals transfer gift cards to their PayPal balance.

    If you use the PayPal option, you will have to purchase another gift card with the Visa gift card first. Due to the fact that Card Cash only accepts gift cards from stores and restaurants, you will have to purchase a gift card from one of their accepted merchants first.

    Once you do that, you will be ready to go. Here are the instructions on how to convert your gift card to PayPal cash using Card Cash. With this method, you will be able to transfer a Visa gift card to a bank account.

    1. Go to the website Card Cash and click on the Sell gift cards option. Enter the merchants name and the balance on the gift card. Then click Get Offer.

    2. When you get an offer, you will see the PayPal amount you can exchange the gift card for right on the site.

    3. If you agree with the amount, all you have to do is click Get Cash and then select how you would like to get paid. If you want the PayPal option, click PayPal Express.

    4. Enter your gift card number and pin. Then click Connect with PayPal. Log onto your PayPal account and fill out the required fills and then click Get My PayPal Balance.

    Check out PayPal to see the same instructions and more details on how to transfer money from gift cards to your PayPal balance.

    Additional Ways To Earn PayPal Gift Cards

    What If I Think The Offer Is Too Low Will It Take My Card

    Though you enter the card information to find out what the offer will be, youre not obligated to accept it. If you like the cash back offer, then you complete the transaction and deposit the gift card into the kiosk when asked. If you dont like the offer, decline it, cancel the session and keep your card.

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    Benefits Of The Key Possibilities Mastercard:

    • Available for KeyBank customers2 to purchase at your local KeyBank branch in any denomination from $25 to $2,500. There is a $3.95 issuance fee for each prepaid gift card
    • Activated immediately and ready to use at the time of issuance for purchases3
    • Accepted at locations worldwide that accept debit Mastercard, at ATMs displaying the Cirrus┬« acceptance mark and at KeyBank ATMs
    • Use your card as often as you would like until the balance is depleted or the card expires

    Drawbacks Of Cash Advances

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    • Most carry a fee of 3% to 5% of the advance amount, with a minimum of $10.
    • The interest rate is typically higher than on purchases .
    • Interest accrues with no grace period .
    • Only a portion of your credit limit may be available for cash advances.
    • Some ATMs limit the amount of cash you can withdraw in a single transaction and charge an ATM fee.

    If youre considering tapping into your credit cards available credit to access cash, stop and consider the options below first. There are, in fact, creative ways to get cash from a credit card without actually requesting a cash advance. These methods may also have costs, but depending on how much cash you need, they may be more affordable.

    Plus, if you have good credit and qualify for a new credit card, taking these steps using a card with an introductory no-interest offer may help reduce your expense even more, particularly if you just need some time to catch up after a sudden crisis.

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    Shopping Online With Your Visa Gift Card Always Use The Honey Browser Extension

    The Honey extension is a free tool that automatically scans thousands of potential vouchers, codes, and discounts so you dont have to! If there is money to be saved, Honey will find it and automatically add it to your cart!

    This method could be used for anything that you normally pay with cash. Provided the vendor accepts Visa or Mastercard, then you can do this. You could use gift cards to pay large bills, small bills, or just for your regular purchases at the local store.

    Whatever you use the gift card for, you now have the equivalent amount of cash still that you can use for any purpose. The cash could be saved in the bank, used to pay other debts, or added to an investment account.

    We Are The Grandmother Of All Gift Cards

    While you can buy gift cards practically anywhere, Gift Card Granny is the place where you can give and receive. By offering a discount or cash back rewards, you save money with every purchase. What’s more, having been in the industry since 2009, we are a reliable source when it comes to gift cards. We give you the opportunity to create custom gift cards by adding your logos, pictures or messages to cards from Visa Gift Card, Mastercard Gift Card and many various national brands. Whether youre an individual or a corporation looking for the perfect way to show someone your appreciation, we can get these prepaid gift cards to you fast.

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    Can I Sell A Visa Gift Card To Other People

    Yes, if you choose to, you can definitely sell a Visa gift card that you have and dont want to other people. Places such as Facebook Marketplace and Gift Cash let you sell your unwanted gift cards and get cash for them.

    You can even sell them to your family and friends if you dont want them. If selling online isnt your thing, try asking family or friends if they would be interested in your Visa gift card.

    Buy From A Physical Store And Then Return The Item

    HOW TO TURN PREPAID VISA CARDS AND GIFT CARDS INTO CASHPREPAID2CASH

    The final method is one that many may feel uncomfortable with. Its included on the list as it is a valid way of converting a gift card to cash but there are some potential risks.

    First, you would need to go to a physical store and make a purchase using the gift card. Once you have bought an item, you can return it and request a refund by cash or check. You will need to tell them you no longer have the gift card which is why the refund needs to be made by cash or check.

    If all goes smoothly you now have the cash amount of the gift card in your hand. However, there are some potential pitfalls including:

    This method isnt the best choice as it is time-consuming plus there are moral and legal implications. However, it is a way that means you can usually end up with the full gift card balance in cash.

    Provided you arent breaking any laws this might be a good method to use occasionally.

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    Pay With Gift Card Instead Of Cash

    The first way to convert a gift card into cash may seem obvious. Use the gift card to pay for something that you would normally use cash for. This means the bill is paid, but you still have the cash to spend!

    Keep in mind that credit card fees may apply when paying with a Visa or Mastercard gift card. Check that first to make sure it still makes sense to pay with the gift card. If it does, then go ahead with the payment and now you have the equivalent cash remaining in your bank account.

    What Visa Gift Cards Can Be Used At An Atm

    If you currently have a Visa gift card and want to know if you can use it directly at an ATM, the short answer is no. Because these types of gift cards are coded to be used in stores or at restaurants, you cant directly get money from an ATM from them.

    You can, however, use some of the methods listed in this post such as selling the gift cards for cash on places such as Facebook Marketplace or Gift Card Granny.

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    Think Outside Of The Box

    There are many many more ways to liquidate prepaid Visa & Mastercard gift cards. Many opportunities are too tricky to mention here while others are regional. It always helps to make friends with other miles/points junkies who live in your area.

    If your preferred method of liquidating prepaid Visa & Mastercard gift cards has ended, the sky is not falling. You may incur some fees for liquidating, but the money is not lost. The old saying, Where there is a will, there is a way applies to this practice. If you think hard enough and do some research, the possibilities are almost limitless.

    Buy Something With Your Card Then Sell It For More

    7 Eleven Just Go Visa Prepaid Travel Money Card

    If youre willing to shop around, you may be able to use discounts, sales, or credit card rewards to purchase items at below-market prices. Then you can sell those items online or to a friend at a higher price. The profit may give you the cash you need, plus a little extra to cover your interest charges if you need some time to pay off the credit card balance. Of course, theres a chance you wont be able to make a profit or sell the item at all.

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    Does Purchasing A Gift Card Count As A Cash Advance

    You should also be aware that some credit cards threaten to treat gift card purchases as a cash advance. In this case, you would be charged a cash advance fee and a higher interest rate as well.

    Generally speaking, gift cards code as a cash advance when you buy them directly from a financial institution or when you buy a prepaid card instead of a gift card. However, you can get around this by buying gift cards within your normal shopping, such as in your weekly grocery haul at the supermarket.

    You can also get around dealing with surprise cash advance fees by asking retailers if their gift cards code as a cash advance or purchase before you buy, or you can call your card issuer and ask them to turn off cash advances on your card altogether.

    Gift Card Terms And Conditions

    Exchanging gift cards for cash using one of the listed methods is extremely simple. In most cases, you can have the cash quickly and with no fuss.

    However, to successfully liquidate gift cards for cash it is important to keep in mind the terms and conditions of the gift card. Terms and conditions could include:

    • Expiry date Make sure the card is valid and check existing cards to know when they expire
    • Inactivity fees Some cards may charge a fee if not used within a certain time, check this to avoid charges
    • Non-transferrable Although rare, some cards may not allow others to use them
    • Specific retailers Certain cards may only be redeemable at specific retailers

    This list isnt exhaustive, but these are the main terms and conditions to be aware of. If you manage your gift cards, then you can avoid things like missing out due to the card expiring.

    Whenever you get a gift card its worth checking the terms and conditions for any exclusions that may hinder liquidating for cash.

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