Exchange Gift Cards for Gift Cards: A Smart & Safe Guide

Gift cards are a popular gifting option, offering flexibility and choice. However, sometimes you might receive a gift card that doesn’t quite fit your needs. This leads many people to consider exchanging gift cards for ones they’ll actually use. While exchanging gift cards can be a smart way to unlock value from unwanted presents, it’s crucial to navigate this market safely and avoid potential scams.

Just like the warning about gift card scams where criminals demand payment via gift cards, the world of gift card exchange also has its pitfalls. Understanding how to safely Exchange Gift Cards For Gift Cards is essential to protect yourself from fraud and get the best possible value.

Understanding the Appeal of Gift Card Exchange

Why would someone want to exchange gift cards? There are several reasons:

Unwanted Brands: You might receive a gift card to a store you rarely or never visit.
Preference for Different Stores: You might prefer a gift card to a grocery store or gas station over a clothing retailer, for example.
Consolidating Balances: You might have several small-value gift cards and want to exchange them for one card with a larger balance to make a significant purchase.

Whatever the reason, the desire to exchange gift cards is understandable. The key is to do it wisely and avoid falling prey to scams.

Legitimate Ways to Exchange Gift Cards for Gift Cards

Several legitimate avenues exist for exchanging gift cards. These typically fall into a few categories:

Gift Card Exchange Websites: Numerous online platforms specialize in buying and selling gift cards. These sites act as marketplaces, connecting sellers with buyers. You can exchange your unwanted gift card for cash or another gift card from a different brand. Keep in mind that these sites usually take a percentage, so you won’t receive the full face value of your card.
Gift Card Kiosks: Located in some grocery stores, malls, and retail locations, these kiosks offer instant cash or store credit for your gift cards. Similar to online exchanges, kiosks typically offer less than the face value.
Direct Swaps with Friends or Family: A simple and often overlooked option is to directly exchange gift cards with friends or family. If you know someone who would value the gift card you have, and they have one you’d prefer, a direct swap can be beneficial for both parties.

Alt Text: Video thumbnail warning about gift card scams, emphasizing reporting fraud to the FTC.

Navigating the Risks: Gift Card Exchange Scams to Avoid

While legitimate gift card exchange services exist, scammers also exploit this market. Here are some red flags and scams to be aware of:

Unrealistically High Offers: If an exchange platform or individual offers to buy your gift card for significantly more than its face value, be extremely cautious. This is a classic scam tactic to lure you in. Remember, legitimate services make a profit, so they will always offer less than the full value.
Demands for Upfront Fees: A legitimate exchange service will deduct their fees from the transaction, not ask you to pay fees upfront. Any request for a fee to “process” or “verify” your gift card is a major red flag.
Pressure Tactics and Urgency: Scammers often create a sense of urgency to rush you into a decision before you have time to think or research. They might claim the offer is “limited-time only” or that you need to act “immediately.”
Requests for Gift Cards as Payment for “Exchange Services”: This is a blatant scam. No legitimate gift card exchange service will ask you to pay them with a gift card. This is a variation of the common gift card payment scam.
Fake Exchange Websites: Scammers create websites that look like legitimate gift card exchange platforms but are designed to steal your gift card information. Always verify the website’s legitimacy by checking reviews, security certificates (HTTPS), and contact information.

Protecting Yourself When Exchanging Gift Cards

To safely exchange gift cards for gift cards or cash, follow these precautions:

Research Exchange Platforms: If using an online exchange, thoroughly research the platform. Look for reviews on independent websites (not just testimonials on their own site). Check their rating with the Better Business Bureau.
Understand the Exchange Rate: Be realistic about the value you’ll receive. Expect to get less than the face value. Compare rates across different platforms to find the best offer, but be wary of offers that are too good to be true.
Use Secure Websites (HTTPS): Always ensure the website you are using has “HTTPS” in the address bar and a padlock icon, indicating a secure connection.
Never Pay Upfront Fees: Legitimate services deduct fees from the transaction amount. Do not pay any fees before the exchange is complete.
Be Wary of Direct Deals with Strangers Online: Exchanging gift cards with individuals you meet online carries higher risks. Stick to reputable platforms or direct swaps with people you know.
Check Gift Card Balances Before Exchanging: Ensure the gift card has the balance you expect before attempting to exchange it.
Read the Fine Print: Understand the terms and conditions of the exchange service, including fees, payout methods, and customer support policies.

What To Do If You Gave a Gift Card to a Scam Exchange

If you suspect you’ve been scammed while trying to exchange a gift card, take immediate action:

Contact the Gift Card Company Immediately: Report the scam to the company that issued the gift card. Use the contact list below to find the appropriate number or website.
Ask if they can freeze the card or refund your money. Some companies are able to intervene if the funds haven’t been fully used.
Report the Scam to the FTC: File a report at ReportFraud.ftc.gov. Your report helps the FTC track scams and take action against fraudsters.

How To Contact Gift Card Companies

Amazon

Call 1 (888) 280-4331 and follow Amazon’s instructions.
Keep a copy of the Amazon gift card or your store receipt.
Visit Amazon’s website to learn about scams.

American Express

Call 1 (877) 297-4438 and follow American Express’s instructions.
Keep a copy of the American Express gift card or your store receipt.
Visit American Express’s website to learn about scams.

Apple, iTunes

Call 1 (800) 275-2273. Say “gift card” to connect with a live representative. Follow Apple’s instructions.
Ask if the money is still on the Apple or iTunes gift card. If so, Apple can put a freeze on it. Ask for your money back.
Keep a copy of the Apple or iTunes gift card or your store receipt.
Visit Apple’s website to learn about scams.

Best Buy

Call 1 (888) 237-8289 and follow Best Buy’s instructions.
Keep a copy of the Best Buy gift card or your store receipt.
Visit Best Buy’s website to learn about scams.

eBay

Chat with eBay customer support, or have a representative call you back.
Keep a copy of the eBay gift card or your store receipt.
Visit eBay’s website to learn about scams.

Google Play

MoneyPak

Submit a fraud claim to MoneyPak.
Keep a copy of the MoneyPak card or your store receipt.
Visit MoneyPak’s website to learn about scams.

ReloadIt

Call 1 (888) 633-9434 and follow ReloadIt’s instructions.
Keep a copy of the ReloadIt card or your store receipt.
Visit ReloadIt’s website to learn about scams.

Sephora

Call 1 (877) 737-4672 and follow Sephora’s instructions.
Keep a copy of the Sephora gift card or your store receipt.
Visit Sephora’s website to learn about scams.

Steam

Report the gift card scam to Steam through Steam Support.
Keep a copy of the Steam gift card or your store receipt.
Visit Steam’s website to learn about scams.

Target

Call 1 (800) 544-2943 and follow Target’s instructions.
Keep a copy of the Target gift card or your store receipt.
Visit Target’s website to learn about scams.

Vanilla

Call 1 (833) 322-6760 and follow Vanilla’s instructions.
Keep a copy of the Vanilla card or your store receipt.

Visa

Call 1 (800) 847-2911 and follow Visa’s instructions.
Keep a copy of the Visa gift card or your store receipt.
Visit Visa’s website to learn about scams.

Walmart

Call 1 (888) 537-5503 and follow Walmart’s instructions.
Keep a copy of the Walmart gift card or your store receipt.
Visit Walmart’s website to learn about scams.

Don’t see your card on this list? Look for the company’s contact information on the card itself or research online to find out how to reach the card issuer. If you can’t find the contact information or the card issuer doesn’t want to talk to you, report it to the FTC.

Gift Cards: For Gifts, Not Payments – And Smart Exchanges

Remember, gift cards are intended for gifts. Never use gift cards to make payments to individuals or businesses you don’t know, especially if they demand it. When it comes to exchanging gift cards for gift cards, proceed with caution and awareness. By understanding the risks and taking preventative steps, you can safely exchange unwanted gift cards and unlock their value while avoiding scams. Always prioritize your financial safety and be skeptical of offers that seem too good to be true.