Gift cards, often seen as the perfect no-brainer present, can sometimes miss the mark. Instead of letting those unwanted gift cards gather dust in a drawer, you can easily convert them into cash. If you’re looking to Sell Gift Card For Cash, you’re in the right place. This guide will walk you through the best options available, ensuring you get the most value while navigating the process smoothly.
Top Platforms to Sell Gift Cards for Cash
Several online marketplaces specialize in buying and selling gift cards, providing a convenient way to exchange your plastic for money. These platforms offer varying rates and features, so understanding your options is key to maximizing your return.
GCX (Raise): A Marketplace Approach
GCX, a subsidiary of Raise, operates as a large online marketplace for gift cards. Think of it like eBay, but specifically for gift cards. Here, you list your gift card for sale and set your own discounted price. This gives you control over the selling price, but it also means you’re responsible for attracting a buyer.
How GCX Works:
- Listing Your Card: You’ll create a listing for your gift card, specifying the merchant, card value, and your desired selling price (discount percentage). You can see what similar gift cards are listed for to help you price competitively.
- Marketplace Dynamics: Your gift card will be visible to potential buyers on the GCX platform. The time it takes to sell depends on the card’s popularity, the discount you offer, and overall demand.
- Fees and Payout: GCX charges a 15% fee on the selling price when your card sells. Payout options include ACH direct deposit and PayPal.
Pros of GCX:
- Price Control: You decide the discount, potentially getting a better return if you’re patient and price strategically.
- Reputable Platform: Raise, the parent company, has a strong reputation in the gift card marketplace.
Cons of GCX:
- Higher Fees: The 15% fee is on the higher end compared to other platforms.
- No Immediate Sale: You only get paid when your card actually sells, which can take time.
- Seller Responsibility: You manage the listing and pricing.
CardCash: Quick and Direct Cash Offers
For those seeking a faster and more straightforward process, CardCash offers a direct buying service. Instead of listing your card and waiting for a buyer, CardCash makes an immediate offer to purchase your gift card directly from you.
How CardCash Works:
- Get an Instant Offer: You enter the gift card details (merchant and balance) on the CardCash website, and they instantly provide a cash offer.
- Verification and Payment: If you accept the offer, you send CardCash your gift card information. Once verified, they process your payment.
- Payout Options: CardCash offers various payout methods, including direct deposit, PayPal, and check.
Pros of CardCash:
- Fast Payment: Get paid quickly, usually within a day or two of approval.
- Convenience: No need to manage listings or wait for buyers.
- Higher Potential Return: CardCash advertises payouts up to 92% of the card’s value, although this varies by merchant and demand.
Cons of CardCash:
- Variable Rates: Payout percentages fluctuate based on the retailer and market demand. Popular cards will generally yield higher offers.
- Potentially Lower Offers: For the convenience of a quick sale, you might receive a slightly lower percentage compared to marketplace selling if you priced strategically on GCX.
Other Platforms to Consider
While GCX and CardCash are leading platforms, other reputable options exist for selling gift cards for cash. Exploring multiple sites can help you compare offers and find the best deal for your specific gift card. Some other platforms to research include:
- ClipKard: Similar to CardCash, ClipKard offers instant quotes and direct purchase of gift cards.
- Raise.com (Parent of GCX): While GCX focuses on marketplace selling, Raise also offers a direct buy option, similar to CardCash. Comparing offers between GCX and Raise directly might be beneficial.
- Prepaid2Cash: Primarily focused on prepaid cards, Prepaid2Cash also accepts gift cards from a wide range of popular retailers.
Tips for Maximizing Your Return When You Sell Gift Cards for Cash
To ensure you get the most cash for your unwanted gift cards, keep these tips in mind:
- Compare Offers: Don’t settle for the first offer you see. Check multiple platforms like GCX, CardCash, and others to compare payout rates for your specific gift card. Rates can vary significantly between sites and even between different brands on the same site.
- Understand Fee Structures: Be aware of the fees charged by each platform. GCX has a 15% selling fee, while others might have different fee models. Factor fees into your calculation to determine your net return.
- Consider Gift Card Popularity: Gift cards from popular retailers with high demand (like Amazon, Target, Walmart) generally fetch higher resale values. Niche or less popular gift cards might have lower payout rates.
- Check Payment Methods and Speed: Evaluate the available payout methods (direct deposit, PayPal, check) and processing times. Choose a method that suits your needs for speed and convenience.
- Read Reviews and Check Reputation: Before using any platform, check online reviews and verify their reputation. Ensure they are legitimate and have a history of reliable transactions.
- Act Quickly: Gift card values can sometimes fluctuate. Selling sooner rather than later can help you secure a better return before potential value decreases.
Buying Discounted Gift Cards: A Smart Shopper’s Secret
The same platforms that allow you to sell gift cards also offer the opportunity to buy discounted gift cards. This can be a savvy way to save money on your own purchases. By buying discounted gift cards for stores you frequent, you essentially get a percentage off every purchase you make there.
When buying discounted gift cards, remember to use a credit card that maximizes your rewards. While gift card marketplace purchases might not fall into specific bonus categories, using a general cash-back card can still earn you rewards on these transactions. Cards like Citi Double Cash® Card, Chase Freedom Unlimited®, and Wells Fargo Active Cash® Card are excellent options for everyday spending and offer solid cash-back rewards.
FAQs About Selling Gift Cards for Cash
Do Coinstar machines buy gift cards?
No, Coinstar machines no longer offer gift card exchange services as Coinstar Exchange has been discontinued.
What gift cards does Prepaid2Cash accept?
Prepaid2Cash accepts a wide variety of prepaid cards (MasterCard, Visa, American Express, Discover) and gift cards from numerous popular retailers, including Starbucks, Walmart, and Best Buy. Cards must have a balance between $25 and $1,000 and cannot have restrictions. They do not accept registered, non-transferable, promotional, or paper cards, 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?
CardCash typically processes payments within one to two business days after your order is approved.
Conclusion
Selling unwanted gift cards for cash is a practical way to recover value from gifts you won’t use. Platforms like GCX and CardCash provide convenient options, each with its own advantages. By comparing offers, understanding fees, and considering the tips outlined in this guide, you can confidently sell gift card for cash and turn unwanted plastic into spendable money. Whether you choose the marketplace approach of GCX or the direct sale convenience of CardCash, you’re taking a smart step to declutter and put cash back in your wallet.
