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Gift Card Exchange Day Scheduled for Dec. 26

Gift Card Exchange Day logo

Gift cards make fabulous gifts -- in fact they're the most frequently requested gift during the holiday season -- but an estimated $60 billion worth of those cards go unredeemed each year.

That's where Gift Card Exchange Day comes into play. Scheduled for Dec. 26, the one-day event is a specific day to do just that -- exchange gift cards for money. It also serves as an annual reminder for cardholders that there's cash in them there cards.

Here's how it works: Let's say Auntie Em gives you a Sports Authority gift card for Christmas, but you're not really the athletic type. Instead of thanking her with a smile and losing the card, you visit on Dec. 26 and sell it for cash.

To do so, you enter the merchant name and face value of the gift card, click "Get Offers," and instantly receive bids from companies interested in buying your card.

Once you have the cash in hand, you can use it for what you really to the ballet.

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