We’re all guilty of an overflowing junk drawer, overstuffed purse or paper-filled pockets. I would bet to say there are plenty of items in there that you could toss. But what would you do if I told you there’s unused money in there, too?
Go ahead and rummage through your purse. See those gift cards that you’ve had in there for more than a year? Guess what? That’s wasted money! So the question is, what are you going to do with those unwanted gift cards? If you aren’t going to use them you may want to do a trade in or sell them. Below are tips to help you through the process.
Well, it depends on what you want to do. You can either swap your gift card for an alternate brand or sell it for cash. There are pros and cons to both options; details can be found below.
Selling Your Gift Card
You can sell your gift card online, at cash for gold shops, kiosks in groceries stores or malls and check cashing service centers. It’s important to note that you will not receive the full value of the card; payouts usually range between 60 to 90 percent. Payment options will be provided from the seller via cash, check ACH or PayPal. Remember that not all gift cards are created equal and the amount you’ll received for the gift card varies on type, transaction and where it’s sold. It’s almost important to remember that selling your gift card online usually yields a higher payout.
Use these step-by-step tips to sell your gift card for cash.
Swapping Your Gift Card
Trading your gift card for another will usually yield a greater value but still does not provide a full value payout. If you’d like to go this route you have a couple different options including online exchanges (ie Cardpool and ABC Gift Cards), kiosks and retailers such as Target. Wondering which type of gift card you’ll receive when exchanging? Not all brands are available but some examples include Amazon, Home Depot, CVS, Sears, etc.
Absolutely. Why’s that? Because you want to get the most bang for your buck! Selling or trading online will yield you the most money although it may take up to a week to receive your money or gift card. A kiosk will give you cash on the spot but the payout will be lower.
Have you sold or traded a gift card? Share your experience in the comments below!