Selling Gift Cards for Cash
What happens when you receive a gift card you don't want? Do you:
a. Throw it in the junk drawer?
b. Re-gift the card?
c. Sell it for cash?
The best choice is to always sell your gift card for cash!
Where Can I Sell My Gift Card?
You can easily sell your gift card online, at cash for gold and pawn shops, grocery stores, mall kiosks and check cashing service centers. When selling, be mindful that you will not get the full value of the card in return. Payouts are usually between 60 to 90 percent. Depending on where you sell your card, payment options can be cash, check, ACH, PayPal or a gift card to an alternate store. The amount varies by where you sell, transaction and type of gift card. Desirable brands such as Walmart may receive an average of around 90% cash back. If you’re looking for the largest payout, selling your gift card online is usually the best option.
How Can I Sell My Gift Card Online?
Follow these steps to sell your gift card online:
1. Enter your gift card brand.
2. Submit the current balance.
3. Generate the offers.
4. Choose between the sell it now or name your price options (explanations below).
5. Receive payment via check, ACH or PayPal once the merchant has accepted your eGift or plastic card.
Be sure to do your research when selling your card. Use Gift Card Granny’s list of sellers to gather the most up to date information on the gift card market. This data will help you observe each of the partners’ merchandise quantity and determine the resale value.
What if you’ve used a portion of the gift card but no longer want it? Not a problem. You can easily sell your partially used gift cards. Merchandise credits are also accepted on a brand by brand basis.
Many of Gift Card Granny’s partners offer the option to list a card with the 'Sell It Now' option. This allows you the ability to choose your own profit margin. Suggested prices are provided, but you are in control of the listing price. Note that this option comes with a listing fee for each card sold.
If you have qualifying amounts of gift cards you may want to look into bulk selling. This alleviates selling individual cards.
Why Does It Matter Where I Sell My Gift Card?
There are pros and cons to each selling option. Selling online will yield you the most money although it may take up to a week for first-time sellers to receive payment (this is dependent on whether or not a check is required as the first form of payment). However, selling your card at a kiosk will get you cash that very minute but the payout will be lower.
Now go find those unwanted gift cards and make some cash! Have questions? Leave them below in the comments.