Gift cards can be a thoughtful present, but sometimes they miss the mark. Maybe you received a gift card to a store you don’t frequent, or perhaps you simply prefer cash. Instead of letting those unwanted gift cards gather dust, you can easily Sell Gift Cards For Money. Turning those plastic rectangles into spendable cash is simpler than you might think, and this guide will walk you through the best methods to exchange your gift cards for cash.
Top Platforms to Sell Your Gift Cards Online
Several online platforms specialize in buying and selling gift cards, providing a convenient way to convert your unused balances into cash. These sites offer varying rates and payout methods, so it’s wise to compare a few to find the best deal for your specific gift card. Two prominent players in this space are GCX (Gift Card Exchange), powered by Raise, and CardCash. Let’s delve into how each platform works.
GCX (Gift Card Exchange) – Your Marketplace to Sell Gift Cards
GCX, a subsidiary of the well-known gift card marketplace Raise, operates as an online marketplace where you list your gift cards for sale. You have control over the discount you offer, making it a flexible option for sellers. When you list your card, you can see what similar gift cards are selling for on the platform, helping you price yours competitively. However, it’s important to note that with GCX, you only get paid once your gift card is purchased by someone else.
GCX charges a 15% fee for using their platform to sell your gift card. This means the maximum return you can expect is 85% of the gift card’s face value. While this fee is on the higher side compared to some competitors, GCX’s established reputation and user-friendly platform can be attractive, particularly for first-time gift card sellers. GCX offers payouts via ACH direct deposit and PayPal, providing convenient options to access your funds.
CardCash – A Direct Buyer for Your Gift Cards
Unlike GCX, CardCash acts as a direct buyer, removing the need for you to wait for a buyer. Once CardCash verifies your gift card, they will purchase it directly from you and handle the resale process themselves. This offers a faster and more streamlined experience compared to marketplace platforms.
CardCash often offers higher returns than GCX, sometimes reaching up to 92% of the gift card’s value. However, the percentage you receive can vary significantly depending on the retailer and the current demand for that specific gift card. For example, rates for popular retailers like Walmart might be higher than for less sought-after brands. It’s crucial to check the specific offer for your gift card on the CardCash website to understand the exact payout you’ll receive.
A significant advantage of CardCash is its broad acceptance of gift cards. They generally accept gift cards from a wide range of merchants, exceeding the acceptance range of some platforms like GCX. While CardCash adheres to standard industry practices, such as rejecting expired cards or promotional cards with restrictions, they are known to accept gift cards from a wider variety of retailers. This can be particularly beneficial if you have gift cards from less common stores that other platforms might not accept.
CardCash also provides an interesting option to trade your gift cards for other gift cards. If you opt for a trade-in, you can receive up to 11% more value compared to cashing out. Popular trade-in options often include major retailers like Amazon, Airbnb, and Chewy. Trading for an Amazon gift card, in particular, can be a practical alternative to cash, given Amazon’s vast product selection, allowing you to still utilize the value of your unwanted gift card.
Buying Discounted Gift Cards – Maximize Your Savings
The same platforms that enable you to sell gift cards, like GCX and CardCash, also offer the opportunity to buy discounted gift cards. This can be a smart strategy for savvy shoppers. By purchasing discounted gift cards, you can effectively save money on your everyday spending or planned purchases.
If you’re considering buying discounted gift cards, it’s beneficial to use a credit card that maximizes your rewards on all purchases. Since gift card marketplace purchases typically don’t fall into bonus reward categories, a flat-rate cash back credit card is generally the best choice. Consider cards like the Citi Double Cash® Card, Chase Freedom Unlimited®, or Wells Fargo Active Cash® Card, which offer solid cash back percentages on all purchases.
Frequently Asked Questions About Selling Gift Cards
Can I sell gift cards at Coinstar machines?
No, Coinstar machines no longer offer gift card exchange services. The Coinstar Exchange program has been discontinued, so you cannot sell gift cards for cash at Coinstar kiosks.
What types of prepaid cards does Prepaid2Cash accept?
Prepaid2Cash is another platform that buys gift cards, primarily focusing on prepaid cards. They typically accept most prepaid cards branded with MasterCard, Visa, American Express, and Discover. Additionally, they accept physical and electronic gift cards from a wide array of popular retailers, including Starbucks, Walmart, and Best Buy.
Prepaid2Cash has specific requirements for the gift cards they accept. The balance on the card must be between $25 and $1,000, and the card must not have any restrictions. They generally do not accept registered cards, non-transferable cards, promotional cards, paper gift certificates, cards with dormancy fees, or merchandise credits that have expiration dates. Always check the Prepaid2Cash website for the most up-to-date list of accepted cards and terms.
Can I sell gift cards through Cash App?
No, Cash App does not currently offer a service for buying or selling gift cards for cash. Cash App is primarily a peer-to-peer payment platform and does not function as a gift card exchange service.
How fast does CardCash process payments?
CardCash typically processes payments relatively quickly. According to their website, payments are usually sent out within one to two business days after your order is approved. This makes CardCash a reasonably fast option if you need cash for your gift cards quickly.
Conclusion: Turning Unwanted Gift Cards into Cash is Easy
Selling gift cards for money is a practical solution for decluttering your wallet and converting unwanted presents into usable cash. Platforms like GCX and CardCash provide accessible and convenient ways to exchange your gift cards. By comparing offers and understanding the different platform features, you can confidently choose the best option to sell your gift cards and maximize your return. Don’t let those unused gift cards sit idle – turn them into cash today!
