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How to Convert Unused Gift Cards Into Cash


Gift Card to Cash


Did you get a gift card that you don't require?

How to sell it for cash is as follows:


You can put the value of your gift card toward rent, gas, or other expenses if you're willing to take a slight loss.


Even when receiving gifts that you may not want or be able to use, it is polite to always keep your smile on.

Nevertheless, every year, gifts worth hundreds of billions of dollars are returned.





Gift cards, which are slightly less personalized (and less useful) than cash, are a common offender.

Wouldn't it be wonderful if gift cards could be exchanged?

After all, a CreditCards.com study found that 47% of Americans have at least one unused gift card, with an average unused balance of $175 per person.


Thankfully, you can, sort of.

There are straightforward ways to convert unused gift cards into cash if you're willing to give up a little value.


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There are several independent websites where you can trade gift cards for cash.

The one you select will depend on convenience and occasionally, the gift card merchant since they all operate slightly differently.


Sites like GiftoCash function as a kind of market where you are responsible for selling the gift card.

You can select the level of discount you want to apply to your card as well as see what other people who have gift cards that are similar to yours are giving away.

You won't get paid until someone purchases your gift card.


For the privilege of using its website to sell your card, GiftoCash charges a 15% fee.

In other words, 85 cents on the dollar represents the best possible return.


That is a higher fee than many other websites, but some people may find GiftoCash to be worthwhile due to its solid reputation.

After all, selling gift cards for the first time can be a little intimidating.

GiftoCash provides ACH direct deposit and PayPal as its two payout options.


The hassle of selling the card yourself can be avoided by using other websites, such as CardCash.

They will pay you and handle the reselling once they have verified your gift cards.


You will receive up to 92% of the cash value of your cards from CardCash.

Even though the return varies significantly from one retailer to the next, that is still significantly better than services like GiftoCash.

For instance, as of this writing, a $100 gift card to Walmart will buy you $86, a $100 gift card to the Apple Store $80, and a pitiful $65 for Microsoft.


The fact that CardCash is fairly indiscriminate in the gift cards it will buy from you is one of its best features (and a benefit it has over GiftoCash).

It adheres to industry standards by refraining from offering promotional cards that can only be used in certain locations or gift cards with expiration dates.

However, compared to GiftoCash, the list of accepted merchants appears to be much longer.

Therefore, even if the return on your obscure gift cards isn't great, you'll still get something.


You can exchange your gift cards for specific other gift cards through CardCash and get up to 11% more value than if you just cashed out.

Amazon, Target, and Wayfair are a few well-liked trade-in options.

It might be a no-brainer to keep value by exchanging your current gift card for an Amazon gift card (which has just about everything).


You can buy discounted gift cards from other people on websites like GiftoCash and CardCash, just as you can use them to sell unwanted gift cards.

Use a credit card that will give you the best return on your investment if you intend to buy discounted gift cards from these websites.

Gift card marketplaces won't qualify for any bonus categories, so the best course of action is to make purchases with a card that offers a respectable flat rate on regular purchases, like:


Rewards


2% cash back: 1% on all permissible purchases and an extra 1% following the settlement of your credit card account.


Greeting bonus


annual cost


For the first 18 months, the intro APR on balance transfers is 0%; for purchases, it is N/A.


APR balance transfer charge regular


A 3% intro balance transfer fee ($5 minimum) is charged for transfers made within four months of the account's opening; after that, a 5% intro balance transfer fee ($5 minimum) is charged.


Foreign exchange commission


Credit required Benefits


Take advantage of 5% cash back on travel purchases made using Chase Ultimate Rewards®, our top rewards program that allows you to exchange points for cash back, travel, gift cards, and more;

1.5% cash back on all other purchases, 3% cash back at pharmacies, and 3% cash back when dining out at restaurants, including takeout and eligible delivery services


Greeting bonus


Earn an additional 1.5% on every purchase (on up to $20,000 in purchases in the first year), which equates to up to $300 in cash back.

That works out to 6.5% for travel booked through Chase Ultimate Rewards®, 4.5% for dining and prescription drugs, and 3% for everything else.


annual cost


For the first 15 months following account opening, the introductory APR on purchases and balance transfers is 0%.


Balance transfers made within 60 days of account opening will incur an intro fee of $5 or 3% of the total amount of each transfer, whichever is higher.

Afterwards, $5 or 5% of each transfer's value, whichever is greater,


Foreign exchange commission


Credit required Benefits


2% cashback is always available on purchases

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