How to Exchange Gift Cards for Cash (2023)

How to Exchange Gift Cards for Cash: Tips and Tricks

Don't Let Your Unused Gift Cards Go to Waste: Exchange Them for Cash!

Exchange gift cards for cash is a great way to make some extra money. Whether you’re looking to pay off debt, save up for a vacation, or just want some extra spending money, exchanging gift cards for cash is a great option. But how do you do it? Here are a few tips to help get you started.

Exchange Gift Card

First, decide which gift cards you want to exchange. Not all gift cards are created equal, so it’s important to do your research and make sure you’re getting the best deal. Look for cards that have the highest value and are from reputable stores or brands.

Once you’ve selected the cards you want to exchange, it’s time to find a service to do the job. There are a variety of platforms that offer gift card exchange services, such as GiftoCash. These services make it easy to exchange gift cards for cash, often with no fees or commission.

When you’re ready to exchange your gift cards, make sure to read the terms and conditions of the service you’re using. Many services have limits on the amount of money you can exchange, and you may be required to provide proof of purchase.

Finally, make sure to keep track of your transactions. Once you’ve exchanged your gift cards for cash, it’s important to keep track of the transactions so you can easily monitor your earnings. This will also help you stay organized and avoid any confusion or mistakes.

Exchanging gift cards for cash is a great way to make some extra money. With the right platform and a little bit of research, you can easily turn your unwanted gift cards into cold, hard cash. So what are you waiting for? Start exchanging your gift cards today!

If you're ready to accept a minor loss, you can apply your gift card's value to rent, gasoline, or other expenditures.

It's proper manners to always have a smile on your face while receiving gifts—even if it's something you might not want or can't use. That said, a great many dollars in presents are returned each year.

A typical culprit is gift cards, a present that is less personal (and less useful) than cash. Wouldn't it be nice if you could send gift cards back? After all, a CreditCards.com study found that 47% of Americans hold at least one unused gift card, with the average unused balance standing at $175 per person.

Fortunately, you can—in a manner of speaking. If you're willing to give up a bit of value, there are simple ways to convert unwanted gift cards into cash.

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There are a number of third-party websites like GiftoCash that give you the opportunity to exchange gift cards for money. They each operate a bit differently, so the one you choose will depend on convenience and, in some cases, the gift card provider.

Sites like Raise function as a sort of marketplace, giving you the responsibility of selling the gift card. You can select how much discount you want to provide for your card, and you can view the discounts that others with identical gift cards are offering. You won't be able to get any money until somebody buys your gift card.

Raise charges a 15% fee for the benefit of using its website to sell your card. In other words, the most possible return is 85 cents on the dollar.

That's a higher fee than many other sites, though Raise's excellent reputation can make it worth the cost for some. After all, selling gift cards for the first time can be a bit intimidating. Raise provides two payout methods: ACH direct deposit and PayPal.

Other sites, like CardCash, will take away the labor of selling the card yourself. The moment they verify your gift cards, they'll pay you and handle the reselling themselves.

CardCash will give you up to 92% of the value of your cards. That's significantly better than the likes of Raise, though the return changes greatly from one retailer to the next. For example, at the time of this writing, a $100 gift card to Walmart will earn you $86, the Apple Store will give you $80, and Microsoft will give you an unimpressive $65.

CardCash has an advantage over Raise as it's more inclusive when it comes to which gift cards it buys from you. While it follows standard protocols, such as refusing to accept gift cards with expiration dates and promotional cards that are only valid in certain locations, its list of accepted merchants is much larger than that of Raise, so even if you don't get a huge return, you will still get something.

CardCash also gives you the chance to trade in your gift cards for select other gift cards and receive up to 11% more value than if you simply cashed out. Popular options for trade-ins include Amazon, Target, and Wayfair. Exchanging your gift card for an Amazon one can be as good as cash and an easy way to preserve value.

If you're planning to purchase discounted gift cards through these sites, be sure to use a credit card that will give you the maximum return for your spending. Gift card marketplaces won't fall into any bonus categories, so the best strategy is to spend on a card that gives you a respectable flat rate on everyday purchases, such as:

Rewards

2% cash back: 1% on all eligible purchases and an additional 1% after you pay your credit card bill.

Welcome bonus

$150 statement credit after you spend $1,000 in eligible purchases with your card in the first 3 months of card membership.

Intro APR

0% for the first 18 months on balance transfers; N/A for purchases

Regular APR

balance transfer fee

For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies.

Indulge in 5% cash back on trips booked through Chase Ultimate Rewards®, our top-tier rewards program that allows you to redeem rewards for cash back, travel, gift cards, and more; 3% cash back on drugstore purchases and dining at restaurants, including out-of-home and qualified delivery service; and 1.5% on all other acquisitions.

Gift bonus

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year)—valued at up to $300 in cash back. That's 6.5% on travel booked through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.

Annual fee

Introductory APR

0% for the first 15 months from account initiation on acquisitions and balance transfers