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How To Sell Unwanted Gift Cards

Where Can I Sell My Gift Cards

Post-Holiday Savings Tips: Sell Unwanted Items And Gift Cards For Cash | NBC News NOW

One of the most important things to consider before selling your gift cards is how you want to receive your payment. Are you hoping for the instant gratification of PayPal or direct deposit? Or are you more of a paper check, in the mail type of person?

This may seem irrelevant to some, but to others, the accessibility of their cash is important. Your unwanted gift cards are stacking up, and its time to unload them. Googling where to get cash back for my gift card isnt going to cut it this time. It would be best if you had a clear direction on how youre going to sell your gift cards and what platform will give you the most money with the quickest turnover.

Once youve settled on this important facet, you can filter through your options.

Giftcardbin: Good For Customer Satisfaction

Reasons to avoid

If the other companies we tested aren’t giving you the results you want, you might want to consider GiftCardBin. You can search by discount, store, category or your own favorites once you create an account. You can buy electronic or physical gift cards and if you choose the latter you can expect it in the mail within ten business days. Digital cards will appear in your account within two business days – longer than some promise.

You can also get vouchers printable at home and redeemable in-store for certain retailers. We saw discounts as high as 31% during our testing, which meant you could buy a $140 Lane Bryant card for less than $100. That said, youd need to be confident in making a large purchase for this deal to pay off.

We saw some impressive savings with GiftCardBin, so its worth signing up for alerts in case any of your favorite retailers crop up with a great deal. Whilst not accredited, an A+ BBB rating indicates a high level of customer satisfaction – one of the major perks of GiftCardBin in comparison with leading sites.

Sell Your Gift Card In Person

If you want to sell your gift card in person, rather than dealing with online gift card exchanges, you have a few options.

  • Cardpool.com gift card kiosks: If you dont want to make your swap online, you can visit certain in-store kiosks, operated by Cardpool.com. These machines, once owned and operated by Coinstar, accept gift cards from more than 150 retailers and restaurants, as long as they have a balance of at least $15. The kiosk will make you an offer for the cardand if you accept the offer, you’ll get a voucher that you can redeem for cash at the register of the shop the kiosk is located in.
  • Target trade-in: If you love shopping at Target, youll be pleased to know the big-box retailer will trade store credit for gift cards from more than 100 different retailers and restaurants through its own in-store exchange. Not all Target stores participate in the program, so you should check the website to see if your local store is part of the Target trade-in program.

Typically, in-store trade-ins offers lower resale returns than the online exchange marketplaces, says Hunter, but the payout is more immediate: Youve got to ask yourself if you value the dollar amount or convenience more.

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A Note On Fraud Prevention

Speaking of fraud prevention, what stops someone from selling a gift card then quickly making an online purchase with the card number? Fraud prevention steps such as requiring the seller to provide identification, a credit card that will be charged if the value suddenly drops and other contact information are helpful. Many resellers have other proprietary measures in place as well. Situations like this, however, are exactly the reason I suggest only working with a reseller that offers customer service and a money-back guarantee.

Think youre the victim of a gift card scam? Read this post on Gift Card Scam Protection.

With so many options to choose from, you should have no problem finding a place to exchange your gift card for cash. My boys sold their Christmas gift cards one year and used the money to pay for things theyd been saving for. Although they hesitated at first, both decided having a little money is better than having unused plastic.

Do you have any other questions about selling gift cards for cash or need other gift card help? Reach out to me in the comments below, on Twitter or on Instagram .

Happy Gift Carding!

~Shelley Hunter, Gift Card Girlfriend

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Get Your Cash Payments In Just 15 Minutes With Prepaid2cash

How To Sell Unwanted Gift Cards ChooseFI

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 100 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. For gift cards, youll receive your payment within 2-3 business days.

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Looking To Make Some Extra Cash These Websites Will Buy Your Unwanted Gifts

DENVER If youre looking to pay off any holiday debt, or if you want to make some extra cash this season, you might want to consider selling off any unwanted gifts.

There are plenty of buy-back websites looking to take certain items off your hands.

In many cases, you can make a pretty penny!

One of the most popular items people receive over the holidays is clothing.

Clothing

According to financial experts at Tally, you can sell any unwanted articles to the following websites: Poshmark, ThredUp and TheRealReal.

The RealReal is more so for higher end brand clothing, whereas Poshmark and Thredup are a lot more mainstream theyll take all sorts of brands. According to Tally, youll make more money if you have the tags on the articles youre looking to sell.

In fact, TheReaReal pays sellers up to 85% of the value of their clothing.

Keep the original packaging also, especially for designer items. Because if you have for example a fancy designer shoe and you put it in the bag the shoe came in and in the box, they will note that and put it in the item description box. And again, that will help you get a premium, said Bobbi Rebell, a personal finance expert at Tally.

GIFT CARDS

When it comes to gift cards, chances are youll receive one or two from a store you dont really care for.

Fortunately, there are websites who will buy them back from you, also!

ELECTRONICS

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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Sell Your Gift Cards For Cash

Once youve officially made the decision to part ways with your gift card, there are plenty of official websites that can help you sell your gift cards to people who might actually want to use them.

Companies like Raise and CardCash let you sell gift cards for as much as 92 percent cash back. While you wont walk away with 100 percent of the value of the card, you can use these sites to turn old gift cards into cashwhich you can then use to buy whatever youd like.

Reputable gift card resale sites also ensure that your gift card transactions stay safe with money-back guarantees and fraud protection. Why is this important? Well, when youre weighing the pros and cons of selling a gift card via a resale site vs. selling directly to someone on social media, you need to consider all potential security issues. If you sell gift cards person-to-person, you could run into online scammers or people who take your gift cards without giving you your promised payment.

What About Cardpool Kiosks

Sell those unwanted or unused gift cards for cash

Cardpool is unique in that it offers its gift card exchange service through kiosks. These kiosks are usually located inside another store, such as a Target, and you can locate one using Cardpool’s online map search feature. Once you find a location, simply bring all your unwanted gift cards to that store and swipe them at the machine. You can also exchange electronic gift cards.

The downside is the cards must have at least $15 on them and no more than $1,000, so that Starbucks card in your wallet with a couple dollars on it wont work. You can get up to 85 percent of the card’s value at a kiosk, though your return will vary depending on the type of gift card you exchange. The kiosk prompts you to enter your personal information and then offers you cash in return for the cards. Finally, you collect your money from the store’s service desk or at the kiosk if you have a reloadable Visa gift card.

To use a kiosk you need a government-issued ID, cell phone number, email address and sometimes a credit card number. This is to prevent fraud and keep someone else from collecting your cash at the stores service desk. If you are asked to enter credit card information, Cardpool will never charge it without your permission. However, if the gift card you sell was obtained illegally, you could be charged.

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How To Safely Sell Those Unwanted Gift Cards

A gift card seems like the cant-go-wrong present. But lets be honest, sometimes that gift card misses the mark. Maybe you dont shop at that store or eat at that restaurant anymore. Maybe you just want the cash.

Its easy to sell unwanted gift cards. Just be careful so you dont fall victim to a gift card resale scam.

Fraud.org, the website run by the National Consumers League , just issued a Fraud Alert about these scams. John Breyault, the NCL vice president who manages the site, said people run into trouble when they try to sell their unwanted cards on Craigslist or eBay or by responding to offers on social media.

Once they find a buyer, the seller provides the codes from the back of the card and the buyer pays them, Breyault told NBC News BETTER. If its a crook, they will cancel the digital payment as soon as they get the codes and quickly spend the money on the card. The victim is left without any money and a useless piece of plastic.

Thats what happened to Bendada Abdallah of Madison, Wis. He got burned when he tried to sell $380 worth of Apple gift cards for nearly face value on eBay. Abdallah emailed the card numbers and PINs and got paid via PayPal.

I learned my lesson, Abdallah said. Be very careful when you try to sell something online.

The Secret World Of Gift Card Trading

You might not realize the internet is home to a savage gift card shadow economy. People utilize a variety of websites to buy, sell, and trade gift cards safely.

While it might sound disturbing, these websites are the safest and easiest way to exchange unwanted cards for cash. Unlike eBay, these sites guarantee you wont get ripped off. They work with digital or physical gift cards, and they sometimes give you the option to name your price through auction or negotiation systems.

Thats not to say these sites are perfect. They sell your cards at a reduced rate and charge listing fees, so you usually only end up with about 70 to 90 percent of whatever your card was initially worth.

Plus, they have to process your gift card or wait for somebody to buy it, so it might be a few days before you get paid.

However, if cash sounds better than hanging on to all those gift cards, here are some of the best places you can sell them:

All of these options offer a return rate of around 70 to 90 percent. We suggest CardPool if you want the fastest payout, and Raise if you want the best return.

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Donate Your Gift Card

If youd rather keep another service from profiting off your gift card or dont find the exchange worthwhileor if you’d feel less Scroogelike by giving your unwanted card awaycontact your favorite charitable nonprofit and ask if they accept donated gift cards. Giving the card away could even lower your tax bill, if you itemize, and extend that holiday generosity even more.

How We Found The Best Gift Card Exchange Websites

Sell Unwanted Gift Cards for Cash

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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Avoid Redeeming Credit Card Rewards For Gift Cards

Theres one more thing you need to know about making money from gift cardsin most cases, redeeming credit card points, miles or cash back for gift cards isnt the best use of your hard-earned rewards. While you can redeem credit card rewards for gift cards, youll often get a lower value than you could have earned if youd redeemed your rewards for statement credits, travel bookings or online shopping.

If you want to maximize your credit card rewards, its best to avoid turning your points, miles or cash into gift cards. Instead, take some time to learn which rewards redemption methods offer the biggest bang for your buck. If you have a Chase travel credit card, for example, your points are often worth more when you redeem them for travel through Chase Ultimate Rewardswhich means youre leaving money on the table if you redeem your Chase Ultimate Rewards points for gift cards.

Many Ways To Sell Gift Cards For Cash

There are many ways to sell gift cards for cash. The most common way is to sell a gift card online to a gift card reseller that buys the unwanted gift card, sends payment to the seller and then resells the gift card to another customer. In addition to true resellers, there are also online sites that match gift card sellers up with gift card buyers, facilitating transactions without actually touching the cards.

One of the benefits of selling your gift card to an online reseller is that the cash back offer will generally be higher than any other method. The one drawback to using these sites, however, is that youll generally have to wait for payment to arrive. Depending on the reseller and payment method selected, you might wait a couple of days for a PayPal deposit or a few days for a check to arrive in the mail. Because the cashback offer is so good, however, I think online resellers are the best choice when you dont mind waiting to get your money.

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How Much Do You Get For Gift Cards At Coinstar

Coinstar discontinued its gift-card-buying services at all Coinstar terminals. However, if youre using Coinstar to count your change, you can maximize your payout by choosing to accept payment by gift card. This option allows you to skirt the fees associated with cash payout.

Dana Sitar is a former branded content editor at The Penny Hoarder. Adam Hardy is a former staff writer for The Penny Hoarder who specializes in stories on the gig economy.

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