Best Strategies to Sell Unused Gift Cards for Cash
Have you ever been given a gift card that you know you won’t use? Maybe it was given with the best intentions, but you are confident it will go to waste. Whether you are given a Burger King gift card and you are a healthy eater or you have a Belk gift card with the nearest store over an hour away, there has to be a place to repurpose these gifts. After a busy holiday season full of gift exchanges, we all end up with more than a few gift cards that fall in to those categories of unwanted. So what can you do with them? Well if you do your research you can turn these unwanted cards into cash. Let’s take a look at exactly how to do that.
Hawk Gift Cards on Ebay
Ebay is usually the first option everyone thinks of when they want to get rid of any unwanted items. However, this could be a bad decision according to many people. First let’s look at all the fees Ebay throws your way. You will have the Ebay insertion fee, then an 8.9% final value fee and then to top it all off you will get charged 2.9% of the final sale to receive the money from Pay Pal. As if all of that wasn’t bad enough you have to realize that an Ebay buyer will not likely pay full value for your gift card. Resale value is roughly eighty percent. So now after fees and reselling your 100-dollar gift card is going to at best bring in 70 dollars. Ebay doesn’t seem to be the best choice for getting rid of your unwanted gift cards.
Sell to Online Retailers
Fortunately, not all hope is lost when it comes to redeeming unwanted gift cards. Online there are many retailers specifically designed to buy your unwanted gift cards and they will pay up to 90 percent of their original value. In addition to the monetary benefit these websites make it simple and easy to sell your gift cards. I've got several sites listed below, including Raise.com (I'll use this one as an example…)
Initially all you have to do is register the amount of your gift card and the retailer. Then you will receive an instant reply from the website telling you exactly what they are willing to pay for your card. You can either accept or decline the offer. With most of these websites once you accept the offer you mail in your gift card and receive payment. However, with Raise.com they won’t send you payment until your gift card is sold through their website. So if you are wanting instant payment other websites are best. (Check out this awesome list of websites and apps you can use to sell clothes, shoes, purses and accessories online!)
The Bottom Line
If you come out of the holiday season with more gift cards than gifts don’t give up hope. Instead of tossing those unwanted gift cards in a drawer and forgetting about them forever there is a great alternative. Get online and do some research so you can sell them and then go spend the money on something you actually want.
List of Sites That BUY Gift Cards for Cash
– I've never sold a gift card on this site, but the process is fairly easy. They have a form you fill out online and then someone will call you and verify the info. What I think is super cool about this particular gift card buyer, is that they will price match (or beat) any other gift card buyer price that you find.
2. Card Cash
– So – according to their site, they offer 92% value on the gift cards you sell there. That's very good. And — they offer several payment methods, another plus.
– This one is pretty popular… or better known I guess I should say. I like this one because they offer Amazon cards in exchange for your gift card. They will pay cash though too. But I do so much shopping on Amazon (especially the subscribe and save) — that I prefer the Amazon cards. Now – that being said — they won't take any gift cards for less than a $25 value. Their site is easy to use and I've found that I've gotten 80% or higher pay-out on the cards I have cashed in.
4. Gift Card Granny (an app)
– Making it even easier to sell that unwanted gift card… they offer an app. They also offer a rewards program that gives points that can be exchanged for bigger discounts on cards you purchase there. Sometimes, you can earn enough points to get free gift cards too.
– You buy and sell your gift cards here. They have every gift card I have ever wanted and have taken any gift card I have not wanted. So win-win. They have a cool refer a friend program too. They'll give your friend $5 just for joining…. and if they ever do buy anything… guess what, you get $5 too. So that's a nice way to share the love, eh?