Gift cards, often touted as the perfect gift, can sometimes miss the mark. Perhaps you received a gift card to a store you rarely visit, or maybe you simply prefer cash. Instead of letting that plastic sit unused in your wallet, you might be wondering, “Where Can I Sell Gift Cards for cash?”. The good news is that a thriving market exists to help you convert those unwanted gift cards into spendable money. This article will guide you through the best options available, helping you understand how to navigate the process and get the most value for your gift cards.
Top Platforms to Sell Your Gift Cards
Several online platforms specialize in buying and selling gift cards, offering a convenient solution to turn unwanted plastic into cash. These platforms generally fall into two main categories: online marketplaces and direct buying sites. Understanding the differences between them is key to choosing the best option for your needs.
Online Marketplaces: Taking Control of Your Sale
Online marketplaces, like GCX (Gift Card Exchange), a subsidiary of Raise, operate similarly to platforms like eBay or Etsy. They provide a space for you to list your gift card for sale and connect with potential buyers. You have control over the selling price, allowing you to decide the discount you’re willing to offer. When you list your gift card on a marketplace, you’ll typically see what discounts similar gift cards are being offered at, giving you a benchmark for pricing.
Alt text: A vibrant display of various gift cards from popular retailers, showcasing different brands and designs.
However, it’s important to understand the marketplace model. You are responsible for attracting a buyer, and you won’t receive payment until your gift card is actually sold. Marketplaces also charge fees for using their platform. GCX, for example, typically charges a 15% fee. This means that if you sell a gift card for $100, the maximum you can expect to receive is $85. While this fee might seem high compared to other options, marketplaces like GCX often offer the benefit of a well-established reputation, which can be reassuring for first-time sellers. Payout methods on GCX usually include ACH direct deposit and PayPal, offering convenient ways to access your funds once a sale is complete.
Direct Buying Sites: Quick and Hassle-Free
For those seeking a faster and more straightforward selling experience, direct buying sites like CardCash offer a compelling alternative. These platforms eliminate the need to wait for a buyer. Instead, you submit your gift card details to the site, and they make you an offer based on the card’s value and the merchant. If you accept the offer, CardCash will pay you directly after verifying the card, taking on the responsibility of reselling it themselves.
Alt text: Close-up of a hand holding a generic gift card, symbolizing unwanted presents that can be sold for cash.
Direct buying sites often offer a slightly higher return than marketplaces, but the exact percentage varies significantly depending on the retailer and the platform’s current demand. CardCash, for example, advertises payouts of up to 92% of the gift card’s face value. However, this percentage fluctuates. As an illustration, you might receive around 85.5% for a Walmart gift card, 77.5% for an Apple Store card, and potentially less for other retailers. The convenience of immediate payment often makes this fluctuation in return worthwhile for many sellers.
One of the advantages of CardCash is their broad acceptance of gift cards. They generally accept gift cards from a wide range of merchants, exceeding the acceptance list of some marketplaces. While they adhere to standard practices, such as rejecting cards with expiration dates or promotional restrictions, their willingness to buy less common gift cards can be a significant benefit. Even if you don’t get the highest possible return for a less popular gift card, selling to a direct buyer site ensures you get some value for it rather than letting it go to waste.
Beyond cash payouts, CardCash also provides the option to trade in your gift cards for other gift cards from select popular brands like Amazon, Airbnb, or Chewy. In some cases, trading can yield up to 11% more value compared to cashing out directly. For example, exchanging your unwanted store-specific gift card for an Amazon gift card, which offers a vast selection of products, can be a practical way to still utilize the gift’s value in a way that suits your needs. It’s almost like getting cash, but within the Amazon ecosystem.
Maximizing Your Returns When Selling Gift Cards
To ensure you get the best possible deal when selling your gift cards, consider these key factors:
Compare Offers Across Platforms
Just as prices vary between stores, the offers for your gift cards can differ significantly between platforms. Before committing to a sale, take the time to compare offers from multiple marketplaces and direct buying sites. Enter the details of your gift card on a few different websites to see which platform provides the highest payout percentage for that specific retailer. Small differences in percentages can add up, especially for higher-value gift cards.
Consider the Type and Brand of Gift Card
The resale value of your gift card is influenced by its brand and the popularity of the retailer. Gift cards from large, widely popular retailers with diverse product offerings, like Walmart or Target, often command better resale rates. Similarly, general-purpose gift cards, like Visa or Mastercard gift cards (though these often have activation fees that reduce their resale value), tend to be more desirable than niche store-specific cards. Luxury brands or less frequently visited stores may result in lower offers.
Understand Payout Methods and Associated Fees
Be aware of the payout methods offered by each platform and any associated fees. Marketplaces often charge seller fees, as mentioned with GCX’s 15% fee. Direct buying sites may incorporate their fees into the offered price. Also, consider the speed and convenience of payout. Direct deposit and PayPal are common options, but processing times can vary. Factor in any potential transaction fees associated with your chosen payout method.
Buying Discounted Gift Cards: A Smart Shopper’s Strategy
The same platforms that allow you to sell gift cards also serve as marketplaces for buying discounted gift cards. Savvy shoppers can leverage these platforms to purchase gift cards at below face value, effectively saving money on their everyday spending. If you regularly shop at a particular store, buying discounted gift cards can be a consistent way to reduce your expenses.
When purchasing discounted gift cards, it’s wise to use a credit card that maximizes your rewards. While gift card marketplace purchases might not fall into specific bonus categories, using a credit card that offers a solid flat-rate cash back on all purchases is a smart strategy. Cards like the Citi Double Cash® Card or Chase Freedom Unlimited® (mentioned in the original article as examples for everyday spending) provide a percentage back on every dollar spent, adding to your overall savings when buying discounted gift cards.
FAQs About Selling Gift Cards
Do Coinstar machines buy gift cards?
No, Coinstar machines, which are commonly known for coin-counting services, no longer offer gift card exchange services. The Coinstar Exchange program has been discontinued, so these machines are not an option for selling gift cards.
What gift cards does Prepaid2Cash accept?
Prepaid2Cash is a platform that focuses on buying prepaid cards, including certain gift cards. They generally accept prepaid cards branded with Visa, Mastercard, American Express, and Discover, as well as gift cards from numerous popular retailers like Starbucks, Walmart, and Best Buy. However, Prepaid2Cash has specific requirements. The gift card balance must typically be between $25 and $1,000, and the card cannot have restrictions. They usually do not accept registered cards, non-transferable cards, promotional cards, paper gift certificates, or cards with dormancy fees or expiration dates. Always check the Prepaid2Cash website for the most up-to-date list of accepted cards and terms.
Does Cash App buy gift cards?
No, Cash App, the popular mobile payment service, does not currently offer a feature to buy or exchange gift cards for cash. Cash App is primarily designed for peer-to-peer money transfers and digital payments.
How quickly does CardCash pay you?
CardCash is known for its relatively quick payment processing. According to their website, payments are typically sent out within one to two business days after your order is approved and the gift card verification process is complete. The exact timing can depend on the payout method you choose and the volume of orders CardCash is processing at any given time.
Conclusion: Turn Unwanted Gift Cards into Opportunity
Unwanted gift cards don’t have to be a disappointment. By understanding the options available, you can confidently navigate the market and turn those cards into cash. Whether you choose the control of a marketplace like GCX or the convenience of a direct buyer like CardCash, comparing offers and considering the type of gift card are crucial steps to maximizing your return. Selling gift cards is a practical way to declutter your wallet and unlock the value hidden in those pieces of plastic, transforming unwanted gifts into financial flexibility.
