Gift cards are a popular gift, easy to give and often appreciated. However, sometimes you receive a gift card to a store you don’t frequent or for a service you don’t need. Instead of letting that plastic gather dust in your wallet, you can easily turn your gift cards into cash. While proper gift-receiving etiquette dictates a smile regardless of the present, when it comes to unused gift cards, you have practical options to convert that well-intentioned gift into spendable money.
How to Sell Your Gift Cards for Cash: Exploring Your Options
Several online platforms specialize in buying and selling gift cards, offering a convenient way to exchange unwanted gift cards for cash. These websites act as intermediaries, and while the process is generally straightforward, understanding the nuances of each platform is key to maximizing your return.
Gift Card Marketplaces: A DIY Approach
Websites like GCX, a subsidiary of Raise, function as marketplaces where you are responsible for listing and selling your gift card. Think of it like eBay for gift cards. You set your desired discount, observe what similar gift cards are being offered for, and wait for a buyer. The advantage here is some control over pricing, but the downside is you only get paid when your card sells.
GCX charges a 15% fee for using their platform. This means the highest return you can expect is roughly 85% of your gift card’s face value. While the fee might seem significant compared to other options, GCX is a well-established platform, which can be reassuring for first-time sellers. They offer payouts via ACH direct deposit and PayPal.
Alt text: A vibrant display of various gift cards at a retail store, showcasing popular brands and designs, emphasizing the wide variety of gift card options available.
Instant Gift Card Buyers: Quick and Convenient
For a faster and more hassle-free experience, consider websites like CardCash. Unlike marketplaces, CardCash acts as a direct buyer. You enter your gift card details, they verify the balance, and immediately offer you a cash value. Once you accept, they handle the reselling process.
CardCash often offers higher returns than marketplace platforms like GCX, sometimes reaching up to 92% of the gift card’s value. However, the percentage you receive varies significantly depending on the retailer. For example, a $100 Walmart gift card might fetch around $85.50, while an Apple Store card might get you $77.50, and a Microsoft card even less. These rates are subject to change based on demand and CardCash’s inventory.
A significant advantage of CardCash is their broad acceptance of gift cards. They generally accept gift cards from a wide range of merchants, far exceeding some other platforms. While they typically don’t accept expired cards, promotional cards with restrictions, or paper gift certificates, they offer an option for many less common gift cards that other platforms might reject. Even if your gift card is from a less popular store, CardCash might still offer you some value for it.
Beyond cash, CardCash also provides the option to trade your gift cards for other gift cards. In some cases, you can receive up to 11% more value by opting for a trade-in. Popular trade-in choices often include versatile gift cards like Amazon, Airbnb, and Chewy. Trading for an Amazon gift card, in particular, can be almost as good as cash, given Amazon’s vast product selection, making it a practical way to utilize an otherwise unwanted gift card.
Buying Discounted Gift Cards: Saving Money on Purchases
The same platforms that allow you to sell gift cards, like GCX and CardCash, also offer a marketplace to buy discounted gift cards. This presents an opportunity to save money on your own purchases. Before making a purchase at your favorite store, check these sites for discounted gift cards. The savings, while varying, can be worthwhile, especially for planned expenses.
When buying discounted gift cards, consider using a credit card that maximizes your rewards on everyday spending. While gift card marketplace purchases might not fall into specific bonus categories, using a good cash-back credit card ensures you earn rewards on these transactions. Cards like the Citi Double Cash® Card, Chase Freedom Unlimited®, and Wells Fargo Active Cash® Card are excellent choices for flat-rate rewards on all purchases.
[
Citi Double Cash® Card](https://oc.brcclx.com/t?lid=26664494)CNBC Select Rating
5.0
On Citi’s site
[
Chase Freedom Unlimited®](https://oc.brcclx.com/t?lid=26664483)CNBC Select Rating
5
On Chase’s site
Wells Fargo Active Cash® Card
On Wells Fargo’s site
Frequently Asked Questions About Gift Cards and Cash
Do Coinstar machines buy gift cards?
No, Coinstar machines no longer offer gift card exchange services. Coinstar Exchange, the service that previously allowed gift card trade-ins at Coinstar kiosks, has been discontinued.
What gift cards does Prepaid2Cash accept?
Prepaid2Cash is another platform that accepts a wide variety of prepaid cards and gift cards. They typically accept MasterCard, Visa, American Express, and Discover prepaid cards, along with gift cards from many popular retailers like Starbucks, Walmart, and Best Buy, both in physical and electronic formats. Prepaid2Cash generally requires gift card balances to be between $25 and $1,000 and that the cards have no restrictions. They do not accept registered cards, non-transferable cards, promotional cards, paper cards, cards with dormancy fees, or merchandise credits with expiration dates.
Does Cash App buy gift cards?
No, Cash App does not currently offer a service to buy gift cards for cash.
How quickly does CardCash pay you?
According to the CardCash website, payments are typically processed and sent within one to two business days after your order is approved and your gift card details are verified.
Alt text: A person thoughtfully holds a gift card, with a superimposed question mark symbolizing the decision of what to do with an unwanted gift card, prompting thoughts about selling it online for cash.
Conclusion: Making the Most of Unwanted Gift Cards
Unwanted gift cards don’t have to be a disappointment. By exploring online marketplaces and instant buyer platforms, you can easily convert gift cards into cash or even trade them for gift cards you’ll actually use. Whether you choose the marketplace approach for potentially higher returns or the convenience of an instant buyer, selling your unwanted gift cards is a smart way to unlock the value of those well-intentioned but perhaps misaligned gifts. And remember, you can also leverage these platforms to buy discounted gift cards, maximizing your savings on future purchases.
