Gift cards, often given with the best intentions, can sometimes miss the mark. Instead of letting that plastic sit unused in your wallet, you might be wondering, “Where To Sell Gift Cards for cash?” Fortunately, turning those unwanted gift cards into spendable money is easier than you might think. This guide explores the best online marketplaces and platforms to exchange your gift cards for cash, helping you get the most value and convenience.
Online Marketplaces vs. Gift Card Buyers: Understanding Your Options
When it comes to selling gift cards online, you’ll primarily encounter two types of services: marketplaces and direct buyers. Understanding the difference is key to choosing the right platform for your needs.
Gift Card Marketplaces: The DIY Approach (GCX & Raise)
Marketplaces like GCX (Gift Card Exchange), a subsidiary of Raise, operate similarly to eBay for gift cards. You list your gift card for sale at a discounted price you determine. This puts you in control of the selling price, allowing you to potentially maximize your return.
How GCX/Raise Works:
- Listing Your Card: You create a listing for your gift card, specifying the merchant, card value, and your desired selling price (discount).
- Setting Your Price: You can browse existing listings for similar gift cards to gauge the market and set a competitive discount. Generally, lower discounts mean a higher chance of selling but a lower cash return.
- Waiting for a Buyer: Your gift card remains listed until a buyer purchases it. This can take time, and there’s no guarantee of a sale.
- Payout: Once sold, GCX facilitates the transaction and pays you via ACH direct deposit or PayPal.
Pros of Using Marketplaces like GCX/Raise:
- Potential for Higher Returns: If you set a competitive discount and are patient, you might get a slightly better return than selling to a direct buyer.
- Control Over Pricing: You decide the discount, giving you some control over the final cash amount.
Cons of Using Marketplaces like GCX/Raise:
- Fees: GCX charges a 15% fee on sales, which can significantly reduce your earnings.
- Time and Uncertainty: Selling is not guaranteed and can take time. You won’t receive cash immediately.
- More Effort Required: You are responsible for creating listings and managing your sales.
Direct Gift Card Buyers: Quick and Convenient (CardCash)
Direct buyers like CardCash offer a more streamlined and faster way to sell gift cards. Instead of listing your card and waiting for a buyer, you sell directly to CardCash. They assess your card’s value and make you an offer.
How CardCash Works:
- Get an Offer: You enter the gift card details (merchant and value) on the CardCash website.
- Instant Valuation: CardCash instantly provides an offer, typically ranging from a percentage of the card’s face value.
- Accept or Decline: You can choose to accept or decline the offer.
- Verification and Payment: If you accept, you send CardCash your gift card information. Once verified, they process your payment via direct deposit, PayPal, or check.
Pros of Using Direct Buyers like CardCash:
- Speed and Convenience: The process is quick and easy. You get an instant offer and payment is usually processed within a day or two after verification.
- Guaranteed Sale: If you accept the offer, the sale is guaranteed, removing uncertainty.
- Less Effort: You simply enter your card details and accept an offer – no listing or price negotiation is needed.
Cons of Using Direct Buyers like CardCash:
- Lower Returns: Direct buyers typically offer a lower percentage of the gift card’s value compared to what you might achieve on a marketplace, due to their profit margin and the convenience they offer.
- Variable Payout Rates: Payout rates fluctuate based on the merchant, demand, and CardCash’s current inventory.
Understanding Payout Rates: What to Expect
The percentage of your gift card’s value you’ll receive varies greatly depending on the platform, the merchant, and current market conditions.
- Merchant Popularity: Gift cards from popular retailers with high demand (like Walmart, Target, Amazon) generally fetch higher payout rates.
- Platform Fees: Marketplaces have seller fees, while direct buyers factor in their profit margins when making offers.
- Current Demand: Market fluctuations can influence payout rates. Demand for specific gift cards can change over time.
For example, the original article mentions these rates from CardCash at the time of writing:
- Walmart: $85.50 for a $100 gift card (85.5%)
- Apple Store: $77.50 for a $100 gift card (77.5%)
- Microsoft: $66 for a $100 gift card (66%)
These examples illustrate the variability and highlight that you should compare offers from different platforms to find the best rate for your specific gift card.
Beyond Marketplaces and Buyers: Other Options to Consider
While online marketplaces and direct buyers are the most common options, here are a few other avenues to explore:
- Prepaid2Cash: This platform specializes in buying prepaid cards (Visa, Mastercard, Amex, Discover) and also accepts gift cards from various retailers. They emphasize quick processing through their mobile app.
- Local Gift Card Kiosks (Limited): While Coinstar Exchange kiosks are no longer operational for gift cards, some physical locations might exist. However, these are becoming increasingly rare and online options are generally more convenient and offer better rates.
Tips for Selling Gift Cards Successfully
To maximize your returns and have a smooth selling experience, keep these tips in mind:
- Compare Offers: Don’t settle for the first offer you see. Check multiple platforms like GCX, Raise, and CardCash to compare payout rates for your specific gift card.
- Check Gift Card Balance: Ensure you know the exact remaining balance on your gift card before listing or selling.
- Understand Fees and Payout Methods: Be aware of any fees charged by the platform and the available payout options (direct deposit, PayPal, check). Choose the method that suits you best.
- Read Reviews and Check Reputation: Before using any platform, check online reviews and ensure they have a good reputation for reliability and customer service.
- Act Fast: Gift card values can fluctuate. If you’re ready to sell, doing it sooner rather than later is generally advisable.
Conclusion: Choosing the Right Place to Sell Your Gift Card
Finding the “where to sell gift cards” that suits you best depends on your priorities. If maximizing your return is paramount and you don’t mind some effort and waiting time, a marketplace like GCX or Raise might be suitable. If speed and convenience are more important, direct buyers like CardCash offer a hassle-free solution.
By understanding your options, comparing offers, and following these tips, you can confidently turn those unwanted gift cards into cash and put that money to better use.
