Selling Gift Cards for Cash: What You Need to Know
Ever received a gift card you didn't really want or need? We've all been there. Instead of letting that unused gift card collect dust in your wallet or drawer, you can actually sell it for cold hard cash. Selling unwanted gift cards is an easy way to make a few extra bucks. Before you rush out to your local gift card exchange kiosk though, there are a few things you should know to make sure you get the best deal. We're going to walk you through the whole process so you can turn that unwanted gift card into money in your pocket. By the end of this, you'll be a pro at squeezing every last dollar out of those unused gift cards burning a hole in your wallet.
Why You Should Consider Selling Your Unused Gift Cards
Selling those unused gift cards collecting dust in your wallet or drawer is an easy way to make some quick cash. Here are a few reasons why you should consider it:
You can get real money for them. Rather than letting a gift card go to waste, you can sell it for cold hard cash to use however you like. Depending on the store, you may be able to get 70-90% of the card's value.
They're easy to sell. There are many reputable websites that make selling gift cards a breeze. Just enter the details about your card like the store name, balance, and card number, and you'll get offers from buyers instantly. The top sites handle the transaction for you so you don't have to meet up with strangers.
The value won't decrease over time. Gift cards don't expire and the balance stays the same until used. But stores do go out of business, get bought out, or change their policies sometimes making gift cards worthless. Selling them ensures you get the full value before something happens to reduce it.
You can sell e-gift cards too. If you received an electronic gift card by email, you can still sell it by providing the gift card number and PIN or security code to the buyer. They can then use it to shop online or add the funds to their own account.
Selling gift cards is an easy way to make extra money from something you would otherwise not use. Do some research to find a reputable website offering the best rates, check the balance on your cards, and start listing them for sale. Your unused gift cards could add up to hundreds of dollars in your pocket.
How to Determine Your Gift Card's Value
So you've got a gift card you don't want or need. Maybe it's for a store you never shop at or it's for an amount that just won't cover what you want to buy. Whatever the reason, selling an unused gift card for cash is a great way to get value from something you otherwise might not use.
To determine how much your card is worth, you'll need to check a few things. First, find out the balance on the card. This is easy - just scratch off the coating on the back of the card to reveal the card number and PIN, then check the balance on the store's website or by calling customer service. Write down the balance so you have a record of it.
Next, check how much the same gift card is selling for on websites like Raise, CardCash, and Gift Card Granny. Compare the balance on your card to the current selling price to determine a good asking price. You'll want to price it at least 5-15% below face value to account for fees and make it attractive to buyers.
Also consider the popularity and demand for that particular store or brand. Gift cards for very popular stores like Target, Walmart or Amazon are easy to sell at close to full value. Cards for smaller stores may be harder to sell, so you'll need to lower the price more to make a quick sale.
The condition of the card also matters. An unscratched, unused card will fetch the highest price. Lightly used cards with a remaining high balance can still sell well. Heavily used or nearly depleted cards will be the hardest to sell, so price them lower accordingly.
With the right price and a little patience, you can easily turn an unwanted gift card into cold hard cash. Why let that balance go to waste when you can exchange it for something you'll actually use? Selling gift cards is an easy way to gain some extra money in your pocket.
The Best Places to Sell Your Gift Cards for Cash
The best places to sell your unwanted gift cards for cash are:
Gift card exchange websites. Popular sites like CardCash, Cardpool and Raise allow you to sell gift cards for a percentage of the balance. They buy hundreds of different store gift cards and can get you 60-92% of the value, often paid via direct deposit, check or Amazon gift card. These sites do the legwork of buying and reselling the cards for you. All you have to do is enter the details of your card to get an offer, ship the physical card or provide the numbers to complete the sale.
eBay. eBay is a trusted marketplace where you can auction off or sell gift cards directly to buyers. You'll need to set a price, upload photos of the gift card and the receipt or proof of purchase if you have it. Buyers will bid or make offers on the listing. You'll make the most money if you can sell the card for face value or close to it. However, it may take longer and there's a chance the card won't sell if priced too high. eBay does charge selling fees based on the final selling price.
Craigslist. For a more local option, try posting your gift cards on the "for sale" section of your city's Craigslist website. Meet the buyer in person at a safe location like a coffee shop or bank lobby. Make sure to verify the card's balance with the buyer before completing the sale. While risky if proper precautions aren't taken, selling on Craigslist avoids any fees and can result in getting nearly full value for your card if you find the right interested buyer.
Facebook Marketplace. The Facebook Marketplace allows you to post items for sale in your local community. Post photos of your gift card, set a price and be willing to meet buyers in person to exchange the card for cash. Like with Craigslist, take normal safety precautions when meeting and verify the balance before completing the sale. Facebook Marketplace has no selling fees but also no guarantees.
Selling gift cards yourself does require effort and time. For a quick and convenient sale with no hassle, a gift card exchange site is your best option. But to potentially get the most cash for your card, try listing it on eBay, Craigslist or Facebook Marketplace. The choice is yours!
How to Get the Most Money for Your Gift Cards
Selling unused gift cards is a quick and easy way to make some cash. But to get the most money for your gift cards, there are a few things you should know.
First, check the balance of your gift card and make sure it's still active. Most stores will allow you to check the balance on their website or by calling customer service. Don't try to sell a card that's expired or has a zero balance—that's a waste of everyone's time!
Next, consider selling the card for slightly less than face value. If you have a $50 gift card, try listing it for $45. This makes it more appealing to buyers and will generate interest quickly. You'll still earn $45 cash for a gift card you weren't using anyway.
Do some research to determine a good asking price. Check recent completed listings on sites like CardCash, Gift Card Granny or Raise to see what similar cards in various denominations have recently sold for. Price your card competitively based on the market rate.
Finally, sell your gift card on a reputable gift card exchange website or app. These platforms have a wide audience of eager buyers and the transactions are secure. You'll get paid quickly after the card is purchased and the buyer verifies the balance. Avoid risky peer-to-peer sites like Craigslist where you could encounter fraud.
By following these tips, you'll maximize your return when selling unwanted gift cards for cash. Do a quick check on the latest asking prices for your specific gift card, set a competitive price, use a trusted gift card marketplace, and you'll sell your card in no time and have money in your pocket! The extra cash from selling just a few unused gift cards can really add up.
Gift Cards Selling FAQs: Common Questions Answered
Selling unwanted gift cards is a great way to turn an unused gift into cash. Here are some of the most frequently asked questions about selling gift cards answered:
Are there any fees involved?
Most gift card resellers like CardCash, Raise, and Gift Card Granny do not charge any fees for selling your gift cards. They make money by buying your gift cards at a discount and reselling them to customers. The amount you receive will depend on the demand and popularity of that retailer's gift cards.
How long does it take to get paid?
Once you submit your gift card information, it typically takes 3 to 7 business days for the funds to be deposited into your account. The actual time depends on the reseller, method of payment (PayPal, check, etc.), and time it takes for them to verify your gift card.
What types of gift cards can I sell?
You can sell gift cards from nearly any major retailer like Target, Walmart, Starbucks, gas stations, restaurants, clothing stores, entertainment venues, and more. The most popular and in-demand gift cards will typically get you the highest offers.
How do I know my gift card balance?
To sell a gift card, you'll need to provide the gift card number and pin (if it has one) to verify the remaining balance. Most major retailers allow you to check your gift card balance on their website by entering the card number. You can also check in person at the store or give the reseller the card details so they can verify the balance for you.
Is it safe to sell gift cards online?
Yes, selling gift cards online can be perfectly safe if you take some basic precautions. Only deal with reputable marketplaces, never provide your social security number or bank account login, and be wary of unsolicited offers that sound too good to be true. Reputable resellers will verify gift cards to prevent fraud before completing transactions. As with anything online, be vigilant about scams but gift card exchanges are typically very safe.
Conclusion
So there you have it—everything you need to know about selling your unwanted gift cards for cold hard cash. While the process can seem complicated, especially with all the scam websites out there, if you do your research, choose a reputable marketplace, and take basic precautions, you'll be well on your way to turning those unused gift cards into money in your pocket. At the end of the day, any extra money is good money, right? And now you've got the knowledge and confidence to navigate the gift card exchange process smoothly and securely. Time to dig through your drawers and gather up those forgotten gift cards—your wallet will thank you!