Gift cards, often given with the best intentions, can sometimes miss the mark. Maybe you received a gift card to a store you rarely visit, or perhaps you simply prefer cash. Instead of letting those plastic rectangles gather dust, you can easily convert them into spendable money. Selling gift cards online has become a popular and convenient solution. This guide will walk you through the best methods to Sell Gift Card Online, maximizing your return and turning unwanted gifts into financial flexibility.
Top Platforms to Sell Your Gift Cards Online
Several online platforms specialize in buying and selling gift cards, each with its own approach and fee structure. Understanding these differences is key to choosing the right service for you when you want to sell gift card online.
Marketplace Platforms: Putting You in Control
Platforms like GCX, a subsidiary of Raise, operate as marketplaces, similar to eBay for gift cards. When you sell gift card online through these sites, you are essentially listing your card for sale and setting your own discounted price. You have the freedom to decide how much you want to discount your card, often seeing what similar gift cards are listed for to gauge the market. However, with this control comes the responsibility of waiting for a buyer. You only receive payment once someone purchases your gift card.
GCX charges a 15% fee for using their platform to sell gift card online. This means the highest return you can expect is 85% of the card’s face value. While this fee might seem high compared to other options, GCX’s established reputation and user-friendly interface can be appealing, especially for first-time sellers who might feel more secure with a well-known platform. Payout methods on GCX include ACH direct deposit and PayPal, offering convenient options to access your funds after you sell gift card online.
Alt text: Raise.com website interface for selling gift cards online, showing options to input gift card details and view offers.
Direct Buyer Platforms: Quick and Convenient Cash
For those prioritizing speed and convenience when they sell gift card online, direct buyer platforms like CardCash offer a streamlined process. Instead of listing your card and waiting for a buyer, CardCash acts as a direct purchaser. Once they verify your gift card’s balance, they pay you directly and handle the resale process themselves. This immediate transaction eliminates the waiting period associated with marketplace platforms.
CardCash typically offers up to 92% of the gift card’s value, a potentially higher return than marketplace platforms like GCX, especially considering the 15% seller fee on GCX. However, the percentage offered by CardCash varies significantly depending on the retailer. For example, a $100 Walmart gift card might fetch a higher percentage than an Apple Store or Microsoft gift card. At the time of writing, selling a $100 Walmart gift card on CardCash could get you around $85.50, while an Apple Store card might yield $77.50, and a Microsoft card even less, highlighting the fluctuating rates when you sell gift card online through direct buyers.
One significant advantage of CardCash is its broad acceptance of gift cards. While they adhere to standard policies, such as rejecting expired or promotional cards with limited usage, CardCash generally accepts a wider range of merchants compared to some marketplace platforms. This inclusivity is beneficial if you’re looking to sell gift card online from less common stores, ensuring you can at least recoup some value, even if the return isn’t maximized.
CardCash also provides an alternative to cash: gift card trades. You can trade your unwanted gift card for a gift card to a different retailer, often receiving up to 11% more value than the cash payout. Popular trade-in options frequently include versatile retailers like Amazon, Airbnb, and Chewy. Opting for an Amazon gift card, for example, can be almost as useful as cash, allowing you to still utilize the value of the original gift card in a way that better suits your needs after you sell gift card online in trade.
Maximizing Your Returns When You Sell Gift Card Online
To ensure you get the most value when you sell gift card online, consider these key factors:
Comparing Offers is Crucial
Before committing to a platform, always compare offers from multiple sites. Just as prices vary when you shop for goods, the rates offered for your gift cards can differ significantly between platforms like GCX and CardCash. Take the time to get quotes from a few different services to see who is offering the best return for your specific gift card. A few minutes of comparison shopping can translate to a noticeable difference in the cash you receive when you sell gift card online.
Understanding Fees and Payout Rates
Pay close attention to the fee structures and payout rates of each platform. Marketplace platforms may have lower initial rates but can be offset by seller fees. Direct buyer platforms offer convenience but might have varying payout percentages depending on the merchant. Factor in all fees and percentage differences to calculate the net amount you’ll actually receive for your gift card. Understanding these details is essential to make an informed decision when you sell gift card online and maximize your earnings.
Gift Card Types Accepted
Confirm that the platform you choose accepts the specific type of gift card you wish to sell. While most major retailers are generally accepted, some platforms may have limitations on certain types of cards, such as store-specific promotional cards or those from less common merchants. Checking the accepted merchant list beforehand will save you time and prevent disappointment when you attempt to sell gift card online.
Buying Discounted Gift Cards: A Smart Shopper’s Move
The same platforms that allow you to sell gift card online also offer the opportunity to purchase discounted gift cards. This can be a savvy strategy for saving money on your own purchases. If you know you’ll be shopping at a particular store, buying a discounted gift card beforehand can effectively act as an instant coupon.
When purchasing discounted gift cards, consider using a rewards credit card to maximize your savings. While gift card marketplace purchases may not fall into bonus reward categories, using a credit card that offers a solid flat-rate cash back on all purchases, like the Citi Double Cash® Card, Chase Freedom Unlimited®, or Wells Fargo Active Cash® Card, ensures you earn rewards on every dollar spent, further enhancing your savings when buying discounted gift cards.
FAQs About Selling Gift Cards Online
Do Coinstar machines buy gift cards?
No, Coinstar machines no longer offer gift card exchange services. The Coinstar Exchange program has been discontinued, so you cannot use Coinstar kiosks to sell gift card online or in person.
What gift cards does Prepaid2Cash accept?
Prepaid2Cash primarily accepts prepaid cards branded with MasterCard, Visa, American Express, and Discover, as well as gift cards from numerous popular retailers, including Starbucks, Walmart, and Best Buy. They generally accept both physical and electronic gift cards. However, Prepaid2Cash has specific requirements: the gift card balance must be between $25 and $1,000, and the card cannot have any restrictions. They do not accept registered cards, non-transferable cards, promotional cards, paper cards, or merchandise credits with expiration dates. Always check their website for the most up-to-date list of accepted cards when you plan to sell gift card online through their service.
Does Cash App buy gift cards?
No, Cash App does not currently offer a service to buy gift cards for cash. Cash App is primarily a peer-to-peer payment platform and does not participate in the gift card resale market. Therefore, Cash App is not an option if you want to sell gift card online for cash.
How quickly does CardCash pay you?
CardCash typically processes payments quickly. According to their website, payments are usually sent within one to two business days after your order is approved. This fast turnaround time is a key advantage for those who need quick access to cash after they sell gift card online through CardCash.
Conclusion: Turn Unwanted Gifts into Financial Opportunities
Unwanted gift cards don’t have to be a disappointment. By utilizing online platforms to sell gift card online, you can easily convert them into cash or even trade them for gift cards you’ll actually use. Whether you prioritize maximizing your return or speed and convenience, understanding the different platforms and their fee structures will empower you to make the best choice. So, take those unused gift cards out of your wallet and explore the online marketplace – your unwanted plastic could be your next financial opportunity.
Disclaimer: While every effort has been made to ensure accuracy, please refer to the specific websites mentioned for the most current terms, conditions, and fee structures. CNBC Select is committed to providing unbiased and helpful information to its readers.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consider your individual circumstances before making any financial decisions.
