Gift cards are often touted as the perfect gift, offering flexibility and choice. 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 Sell A Gift Card and get cash instead. Several platforms and services are available to help you exchange your unwanted gift cards for money. This guide will walk you through the best options and how to maximize your return when you decide to sell.
Top Platforms to Sell Your Gift Cards for Cash
Several online marketplaces specialize in buying and selling gift cards. These platforms offer a convenient way to sell a gift card, but it’s essential to understand how they work and what fees they charge. Here are some of the leading platforms:
1. GCX (Gift Card Exchange)
GCX, a subsidiary of Raise, acts as an online marketplace where you can list your gift cards for sale. Think of it as eBay, but specifically for gift cards. You have control over the selling price, which means you decide the discount you’re willing to offer. To effectively sell a gift card on GCX, you’ll need to consider the discounts offered by other sellers for similar cards to remain competitive.
Key Features of GCX:
- Marketplace Model: You list your card and wait for a buyer.
- Control Over Pricing: You set your discount.
- Reputation: Backed by Raise, a well-known name in the gift card industry.
- Payout Methods: Offers ACH direct deposit and PayPal for payouts.
Fees: GCX charges a 15% fee on the selling price. This means if you sell a gift card for $85 (on a $100 card), you’ll receive approximately $72.25 after fees. While the fee is higher than some competitors, the established reputation and marketplace visibility can justify the cost for some sellers, especially those new to selling gift cards online.
2. CardCash
CardCash offers a different approach compared to GCX. Instead of acting as a marketplace, CardCash buys gift cards directly from you. This provides a faster and more streamlined process to sell a gift card. You simply enter the gift card details on their website, and CardCash will make you an offer. If you accept, they’ll process the payment once the card is verified.
Key Features of CardCash:
- Direct Purchase: CardCash buys your gift cards directly.
- Faster Transactions: Payment is typically processed quickly after verification.
- Higher Potential Returns: Advertises payouts of up to 92% of the card’s value.
- Wide Acceptance: Accepts a broad range of gift cards from various retailers.
- Trade-in Option: Allows you to trade gift cards for other gift cards, potentially increasing the value you receive.
Payout Rates: While CardCash advertises up to 92% cash back, the actual percentage varies significantly depending on the retailer. Popular and in-demand gift cards, like Walmart or Target, may fetch higher rates compared to less popular or niche stores. For instance, a $100 Walmart gift card might get you around $85.50, while an Apple Store card could be closer to $77.50, and a Microsoft card even lower. It’s crucial to check the specific offer for your gift card on their website to understand the exact return.
3. Other Platforms to Consider
Besides GCX and CardCash, several other websites and services can help you sell a gift card. These include:
- Raise: While GCX is a subsidiary, Raise also operates its own marketplace for gift cards.
- ClipKard: Another platform that buys gift cards directly.
- Prepaid2Cash: Primarily focuses on prepaid cards but also accepts gift cards from select retailers.
It’s always recommended to compare offers from multiple platforms before you sell a gift card to ensure you’re getting the best possible deal.
Maximizing Your Return When You Sell Gift Cards
To get the most cash when you sell a gift card, consider these tips:
- Compare Offers: Don’t settle for the first offer you see. Check multiple platforms like GCX, CardCash, and others to compare their payout rates for your specific gift card.
- Check Current Demand: The demand for certain gift cards fluctuates. Gift cards for popular retailers or during holiday seasons might have better resale value.
- Understand Fees: Be aware of the fees charged by each platform. Factor these fees into your calculation to determine your net return.
- Consider Trade-ins: If you’re open to gift cards from other retailers, explore trade-in options offered by platforms like CardCash. You might get a higher value by trading for a more versatile gift card like Amazon.
- Act Quickly: Gift cards can sometimes lose value over time, especially if the retailer faces financial difficulties. Sell a gift card sooner rather than later to maximize its value.
Buying Discounted Gift Cards: A Smart Move
The same platforms that allow you to sell a gift card also offer the opportunity to buy discounted gift cards. If you regularly shop at specific stores, purchasing discounted gift cards can be a smart way to save money. You can buy gift cards at a lower price than their face value and use them for your purchases, effectively getting a discount on everything you buy at that store.
When buying discounted gift cards, ensure you use a credit card that offers rewards on all purchases. This way, you can earn cashback or points on your discounted gift card purchase, further maximizing your savings. Cards like the Citi Double Cash® Card, Chase Freedom Unlimited®, and Wells Fargo Active Cash® Card are excellent choices for everyday purchases due to their flat-rate rewards.
FAQs About Selling Gift Cards
Do Coinstar machines buy gift cards?
No, Coinstar machines no longer offer gift card exchange services. The Coinstar Exchange program has been discontinued.
What gift cards does Prepaid2Cash accept?
Prepaid2Cash primarily accepts prepaid cards from major brands like MasterCard, Visa, American Express, and Discover. They also accept gift cards from popular retailers such as Starbucks, Walmart, and Best Buy. However, they have specific requirements regarding card balances and types, so check their website for details.
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?
CardCash typically processes payments within one to two business days after your order is approved and your gift card is verified.
Conclusion: Turn Unwanted Gift Cards into Money
If you’re stuck with unwanted gift cards, selling them is a practical way to recoup some value. Platforms like GCX and CardCash provide convenient options to sell a gift card for cash. By comparing offers, understanding fees, and considering trade-ins, you can maximize your return and turn unwanted gifts into money you can actually use. And remember, you can also leverage these platforms to buy discounted gift cards and save money on your future purchases.
Disclaimer: Payout rates and fees mentioned are subject to change and may vary depending on the platform and specific gift cards. Always verify the latest information on the respective websites before making a transaction.
