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A gift card is always a great easy go-to gift, in fact, consumers are spending as much as $130 billion dollars annually on them. You might love getting gift cards but for some people gift cards miss the mark for a number of reasons. Sometimes you spend more than the card amount, you simply lose it or forget you even have it. Never fear though as there are seven things you can do (like sell for cash) with your unused gift cards if you chose not to keep or use them.
What if you receive a gift card to a store that you have no interest in visiting or there isn’t a physical location in your area? You can simply regift it to a friend or family member who might enjoy it! Save it until Christmas time and use it as your gift contribution at your office Christmas party or for a friends birthday! Someone would love to have it!
You can also donate to your favorite charity. If you really want to make a difference in your community, think about giving your unwanted gift cards to a homeless shelter or other local organizations. They can buy products or services with them and be greatly benefited, plus you can earn a tax deduction for the gift so make sure you save your receipt.
If you find that you do want to keep your gift card but want a different retailer you should consider swapping it with a gift card to your favorite store or restaurant. Walmart, Target and other big box retailers give you the opportunity to trade it in for store credit or for a different gift card to as many as 200 different retailers, restaurants and airlines. The choice is yours.
In need of quick cash? Reselling gift cards online is a trend that is becoming increasingly popular. It’s important to know that when reselling gift cards online you won’t be able to get the full value but can expect to get back between 60-90% of the amount. Although selling gift cards online is relatively easy it does come with risks so be careful of gift card scams especially on sites like Craigslist where there is no protection for sellers. Just exercise caution if you go this route and remember you are in control of the sale, never exchange the gift certificate pin or mag stripe number over the phone or through email.
Online Gift Card Reseller
A safer option for selling gift cards online is to take advantage of the numerous online gift card resellers that offer cash for your unwanted gift certificates. Websites like Gift Cash make it easy to sell gift cards online. Most resellers require that the gift card have at least a $20 balance available. You’re most likely be able to cash in closer to the full value of the gift card if the certificate is for popular retailers like Target, Walmart which have a nationwide footprint and offer a wide variety of products that are of interest to consumers. Before you attempt to sell your unused and unwanted gift cards online you should first make sure that the card is in good condition. Online resellers won’t make an offer on cards that have been manipulated, are bent or worn and if the numbers can’t be read.
You can find a kiosk at your local mall or Walmart where you can sell your gift cards for cold hard cash. These stands are operated by legitimate resellers that will provide you with an offer based on the type of gift card and the balance. If you choose to accept the offer, you’ll have to insert the card and you can walk away with the money. Usually, you’ll only get offered a maximum of 75% of the gift card value. Again, make sure your gift cards are in good condition in order to sell to an in-store kiosk.
There are thousands of service centers around the world that allow you to cash in unused or used gift cards. The biggest benefit of opting to sell your gift certificates at a service center is you can walk off with cash in your hand the same day yet you won’t be able to make as much money as you would through another avenue. Check the balance yourself prior to selling because you will want an have of what kind of offers to expect. In an effort to prevent fraud most kiosks, service centers, and even online resellers will require that you provide a driving license as well as the number or email address you can be contacted at in case there is an issue.
It’s always best to get offers from a variety of places before you make your final decision on selling or getting rid of your unused gift cards. Happy Selling!