Consumer Reports Checks Out Four Gift Card
Your cousin no doubt meant well when he gave you a $50 gift card to Outback Steakhousehe just didnt remember that you had become a vegan. But you can convert the card to cash.
Numerous card-exchange websites have emerged in recent years, offering to pay as much as 92 percent of a cards face value from merchants of all stripes: gas stations, hotels, department stores, restaurants, supermarkets, movie theaters, and specialty chains.
Although we have warned consumers about buying cards from those retailers, companies say they verify the cards as legitimate and confirm their value. Once they do that, they send you a check, then try to resell the cards at a profit, though still at less than face value.
We checked out four sites that you can use to exchange gift cardsGiftcards.com, Cardpool.com, Giftcardrescue.com, and Monstergiftcard.comeyeballing their policies and using their online calculators to determine how much we would get for 13 cards, each with a $100 face value. Here are the key lessons we learned in our experiment:
Not all cards are equally valuable. The purchase price depends on a merchants popularity. Resellers were generally willing to pay more for Walmart and Whole Foods cards than for those from Brooks Brothers and Bass Pro Shops.
Prices vary from site to site. Monstergiftcard.com, for example, paid generously for Bed Bath & Beyond cards, but other sites paid a lot more for Coach cards. So it pays to comparison shop.
Give Out The Visa Gift Card As A Gift
Sometimes, you may be required to give a gift to a friend or a family member for special occasions such as weddings.
Since the prepaid Visa gift cards are usually bought in denominations of $100, $200 or $500, it can be an excellent gift and will essentially serve as cash.
Instead of giving a check, a Visa gift card is just as good.
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Why Sell Gift Cards For Cash
Got a gift card you dont want? Then sell it for cash online, at a mall kiosk, in some grocery stores or at select service centers. You wont get the gift cards full value back in cash, but getting some money in return is better than nothing. Depending on where you sell the card and the demand for that particular brand card, the cash back offer can be anywhere from 60 to 92 percent. Payment options typically range from cash, a check in the mail, a gift card to a different store or a PayPal deposit.
Companies that buy gift cards turn around and sell the cards to other people at a slightly higher rate, but still below the face value. Since being the go-between in this gift card aftermarket can be fairly profitable, there are a number of places where gift cards can be sold for cash.
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Visa Gift Card With No Money
Is there a way to buy a Visa Card with no money? For starters, it is not entirely possible to get a Visa gift card with no money. Nonetheless, you can earn money on a Visa and other gift cards by completing simple tasks on rewards platforms such as Swagbucks.
All it takes is a few simple steps:
- . This is entirely free by just creating an account using your email and a password.
- Earn Swagbucks points by completing surveys, finding shopping deals, alongside taking advantage of promos.
- Last but not least, redeem your SB points for a Visa Gift card starting at $10.
Click here for more on How Swagbucks Works.
Pay Your Bills With Your Visa Gift Card
Using your gift card to pay a bill is exactly the same as converting your Visa gift cards to cash although youll never actually get to see the money.
Just remember that because the Visa gift card is treated the same as a credit card, youll also incur any credit card fees, so make sure you do the math to confirm that its worth it.
How do you liquidate a Visa gift card by paying bills?
This can be done with any billing provider that accepts Visa credit cards for bill payments, as the Visa gift cards are treated exactly the same.
Not every single company will allow this, but youll almost certainly be able to use your card in this way for things like topping up your phone credit, buying groceries and gas or renewing your subscription at the local yoga studio.
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Sell Your Visa Gift Card Through An App
Another option is to sell your Visa gift card on various apps that will buy it from you in order to resell it.
While this can be a quick way to convert your Visa gift cards to cash, the fees are really steep so this should probably only be your last option if the others arent possible for some reason.
For example, Raise has an app that does this for both iOS and Android, although theyll take 15% commission for doing this. Ouch.
A similar one is Prepaid2Cash, another site that has an app for iOS and Android in order to trade in your Visa gift cards for cash. This one works slightly differently, in that:
- First you tell them the brand of the gift card
- They then send you an offer through the app for the card
- You have no obligation to accept this offer but once you do, theyll deposit it into your account in up to five business days
This means that the fees they charge are incorporated into the offer, so its not entirely transparent. They state, however, that the offer will be up to 92% of the card balance, meaning the fees are at least 8%.
Buying Products To Resell
I know youve probably heard about this method, but if you havent, here is how it goes.
The technique not only offers you a chance to get cash out of your Visa gift card, but you can also make some extra money. In essence, its about taking advantage of great deals.
Platforms like PayPal allow you to pay for products through prepaid gift cards, and various retailers accept online payments.
Therefore, you can make an online or in-store purchase using Visa gift cards through PayPal.
If you spot a deal that is ideal for a product you can buy, you can do so and then resell the product at a profit or at a breakeven price to get your cash.
This can be a great option if you are able to get cheap deals for useful products that you can later resell.
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Pick The Best Website
While exchanging, it is essential for you to pick the best website. A few websites serve as middlemen and offer cash after these get the cards. Others, however, will let you post information about the card and wait for someone to be interested in exchanging. Although you can get more money or some other lucrative exchange offer in case of the latter, you typically have to wait for more time. This involves a lot of risk.
The websites serving as middlemen allow you to enter all the important card information such as expiration date, merchant value etc. Then, you are shown what the going rate is for the specific card that you have. In case you are okay with the rate, you may move ahead and instantly exchange or sell the card.
Card Kangaroo: A Great Inventory Of Cards
Card Kangaroo has an inventory of about 1,300 cards as of last November and has served nearly 59,000 customers. You can use this website to buy, sell or trade your unwanted gift cards or simply check the remaining balance of a card you found in your wallet. CardKangaroo guarantees the stated balance up to $500 of purchased gift cards for 100 days from the day you buy them. They accept major credit cards as well as PayPal.
If you’re looking to sell cards you simply select the merchant, value of the card and get an offer from the website. This company is unique in that you’ll receive a shipping label and be asked to mail your gift card in, rather than simply providing the card’s number and other information. If this isn’t too much of a hurdle for you, CardKangaroo is a great gift card swap option. You’ll receive payment via a check in the mail or through PayPal.
If you’d rather trade for a different gift card you simply click that option after providing information about the card you no longer want. Once you’ve picked which gift card you want, you’ll have to ship yours in before getting the one you swapped it for in the mail.
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What Can You Do With Unwanted Gift Cards
You have a few options for things you can do with unwanted gift cards:
- Sell your unwanted gift card for cash in-person
- Use a gift card exchange website to sell it online
- Donate the gift card to charity
- Gift it to someone
- Exchange it for a different retailers gift card with someone you know
- Use the gift card to purchase things for you to then sell
- Return the gift card to the retailer if they will accept it
Give Them Out As Gifts
Sometimes, you may be required to give out gifts, and in most circumstances choosing the right gift for a friend or family member can be challenging. But if you have a Visa Gift card you, can give it to a friend and let them decide on what to buy.
What I like about this gift idea is that you can get Visa Gift cards for $1, $10, $100, $200, and all the way up to $500. This makes them a perfect alternative to high-value gifts.
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What Gift Cards Did Coinstar Exchange Accept
Coinstar Gift Card Exchange did accept a wide range of gift cards from over 150 retailers. These included major ones like Best Buy, Amazon, Walmart, Starbucks and more.
However, as mentioned, their kiosks no longer serve as a way for you to do a gift card exchange for cash although there are other options.
How To Convert Visa Card To Cash
Here we are going to learn how to get cash from a visa card. For starters, converting your gift card to cash is a great way to use the balance you have on the card.
This is because most gift card purchases come in fixed denominations- $1, $5, $10, and so on. As such, you might find it impossible to utilize a $0.99 card balance.
To exchange your visa card for cash, there are multiple ways to do it. Whatever be your reasons, though, the goal is to access the amount noted on the card as if it were straight from your cash wallet.
However, in a few cases, some methods let you have hard cash in your hand, others treat your card as if it were real cash.
To ensure that you get the highest value for your card, the options weve put together in this post have the advantage of being legit and very simple to execute. Check them out below!
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Sell Gift Cards Online Direct Deposit
There are several sites where you can sell unwanted gift card like CardCash and GiftDeals . However, usually you will sell a gift card cheaper than its face value. All you need to do is to state the merchant of your card and then check for the highest offer. The price of the card depends on how popular the card is. Different gift cards have different procedures for selling.
We have selected for you some marketplaces where you can consider selling your gift card. Be aware that you will be paying a small fee or commission at most online gift card exchange sites. Therefore you also may want to look into the options to sell your gift card locally.
How We Found The Best Gift Card Exchange Websites
We went through every part of these gift card exchange websites to see how well they work and whether theyre worth your time. We bought gift cards from leading retailers and found out how much we could get in return for selling them. We also checked out how big the discounts were on cards available for purchase from top brands. When it was an option, we also downloaded the app to make sure it worked as advertised and while the majority of gift cards out there are digital, we also looked at shipping rates for shoppers looking for a physical gift card.
The number and variety of retailers you can buy gift cards on exchange websites changes all the time. Instead of trying to keep our thumb on how many individual retailers were available, we searched for three big players American Eagle, Macys and Walmart at the same time on the same day across all the websites we tested. We then assigned a letter grade corresponding to whether the website had cards available for purchase from those retailers.
We also used the Better Business Bureau to make sure these gift card exchange websites are legitimate. The BBB is a consumer watchdog group which assigns ratings A+ through F to companies based on information from business and customer complaints. These ratings arent a guarantee, but theyre helpful in seeing whether businesses and websites have had consistent problems or consumer complaints.
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We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.
What Are Other Options For Getting Rid Of Unwanted Gift Cards
Maybe youre not as online savvy as youd like to be, and youre looking for other options to rid yourself of your Target gift card. Or, you still want to earn cash, but the idea of stopping by the post office or shipping your card out via FedEx seems like more effort than youre willing to make.
Maybe youre completely unconcerned with the idea of earning cash from your gift card, and you want to ensure that the card goes to good use, since you don’t need it. Whatever the case may be, we have a solution for you.
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How To Exchange Gift Cards For Cash Online
Dont feel like wasting your time selling your gift card in person? You can register for an online platform that enables you to exchange your card for another one or for cash.
Note that this method takes more time since you will have to wait for the payment to be processed or for your check to come via mail.
Since there are many gift card cash back websites out there, you should find out as much as possible about each of them to make an informed decision. Some platforms offer better payouts and charge lower fees than others.
Do you have only a few dollars on your gift card balance? If youd like to get that money and as quickly and effortlessly as possible, you should rely on DoNotPay!
How To Become A Premium Seller Partner
Premium Partners get the huge benefit of selling gift cards in bulk. To become the partner you simply need to contact Zingoy. After becoming the partners you can choose or request us for what types of gift cards you want to sell in bulk. Apart from selling gift cards, you can also buy gift cards online at Zingoy.
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How To Sell Gift Cards For Cash Instantly
Gift cards come from everywhere. Birthdays, Christmas or maybe just because.
Unfortunately, there may come a time when you receive a gift card that you may have no use for.
Instead of letting it collect dust, consider selling it to one of the many retailers online that will offer you a quote on the spot. Yes, you dont have to deal with the public nor do you have to fear getting ripped off. Its as easy as letting the company know what you have.
You wont always get 100% of the value, but it can be quite close dependent upon the gift card you have.
In todays post, I want to talk about the many websites that will let you exchange gift cards to cash. I will warn you, though, that they arent all created equally, so its always best to get a quote from each company mentioned below before confirming your order. No matter which retailer you have, whether it be Amazon, Walmart, eBay or even a Visa gift card, there is an option for you, I promise.
With that out of the way, lets take a gander at some of my favorite ways to sell gift cards for cash instantly.