Gift cards are often seen as a convenient and versatile gift, but sometimes, they can miss the mark. You might receive a gift card for a store you don’t frequent or for items you don’t need. Instead of letting these cards gather dust, you can easily turn them into cash. If you’re wondering how to Sell Your Gift Card and get the most value, you’re in the right place. This guide will walk you through the best options and strategies to convert those unwanted gift cards into money you can actually use.
Understanding Your Options to Sell Gift Cards for Cash
Several online platforms specialize in buying and selling gift cards, offering a convenient way to exchange your plastic for cash. These third-party websites act as intermediaries, connecting sellers like you with buyers looking for discounted gift cards. Each platform operates slightly differently, so understanding their nuances is key to choosing the best fit for your needs and maximizing your return when you decide to sell your gift card.
Marketplaces vs. Direct Buyers: Choosing Your Selling Route
When you’re looking to sell your gift card, you’ll generally encounter two types of platforms: marketplaces and direct buyers. Marketplaces, like GCX (Gift Card Exchange), which is a subsidiary of Raise, operate more like an auction or classifieds site. You list your gift card, set your desired selling price (usually at a discount), and wait for a buyer. You have more control over the price, but the selling process can take longer, and you’re responsible for attracting buyers.
Direct buyer sites, such as CardCash, offer a more streamlined and faster approach to sell your gift card. Instead of listing your card and waiting for a buyer, you enter the gift card details on their website, and they provide you with an instant offer. If you accept, they buy the card directly from you. This method is quicker and more convenient, but you might receive a slightly lower percentage of the card’s face value compared to selling on a marketplace.
Top Platforms to Sell Your Gift Card: A Detailed Look
Let’s delve deeper into some of the popular platforms that allow you to sell your gift card, highlighting their features, fees, and payout structures.
GCX (Gift Card Exchange) – A Marketplace Approach
GCX, powered by Raise, is a well-known marketplace for buying and selling gift cards. When you sell your gift card on GCX, you essentially create a listing where you specify the card’s value, the discount you’re willing to offer, and your preferred payout method. You can browse existing listings for similar gift cards to gauge the market and set a competitive price.
GCX charges a 15% fee for using their platform to sell your gift card. This means if you sell a $100 gift card, the maximum you can expect to receive is $85. While this fee might seem high compared to other options, GCX benefits from the strong reputation of its parent company, Raise, which can attract more buyers and potentially lead to a quicker sale. GCX offers payout via ACH direct deposit and PayPal, providing flexibility in how you receive your funds after you successfully sell your gift card.
CardCash – Direct and Fast Cash for Gift Cards
CardCash offers a different approach when you want to sell your gift card. Instead of acting as a marketplace, CardCash directly buys your gift cards from you. You simply enter the details of your gift card on their website, and they’ll quickly verify the information and present you with an offer. If you accept, CardCash handles the resale process, making it a hassle-free way to convert your gift cards to cash.
CardCash often boasts higher payout rates than marketplaces like GCX, sometimes offering up to 92% of the gift card’s value. However, the actual percentage you receive can vary significantly depending on the retailer and the current demand for that particular gift card. For example, the article mentions that 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. To find out exactly how much you can get, you’ll need to get a quote directly from their website when you want to sell your gift card.
One of CardCash’s advantages is its broad acceptance of gift cards. They generally accept gift cards from a wide range of merchants, even those that might be considered less mainstream. While they do have standard restrictions, such as not accepting expired cards or promotional cards with limited usage, their list of accepted retailers appears to be more extensive than some marketplaces. This inclusivity makes CardCash a good option if you have gift cards from less common stores and are looking to sell your gift card quickly.
Beyond cash, CardCash also offers the option to trade your gift cards for other gift cards. In some cases, they offer a bonus of up to 11% more value if you choose to trade for a gift card from a popular retailer like Amazon, Airbnb, or Chewy. Trading for an Amazon gift card, in particular, can be a very practical alternative to cash, considering Amazon’s vast product selection. This trade-in option provides another avenue to maximize the value of your unwanted gift cards if you’re open to different forms of spending rather than just seeking to sell your gift card for cash.
Maximizing Your Return When You Sell Your Gift Card
To get the most out of selling your unwanted gift cards, consider these strategies:
- Compare Offers: Don’t settle for the first offer you receive. Check multiple platforms like GCX and CardCash to compare their rates and fees before you sell your gift card.
- Consider Marketplace vs. Direct Buyer: If you’re not in a rush and want to maximize your potential return, listing your card on a marketplace like GCX might be worth the extra effort. If speed and convenience are priorities, a direct buyer like CardCash is likely a better choice when you sell your gift card.
- Check Current Rates: Gift card values fluctuate based on demand. Check the current offers on different platforms regularly to time your sale for the best possible return when you sell your gift card.
- Read the Fine Print: Understand the fees, payout methods, and processing times for each platform before you commit to selling.
- Ensure Card Validity: Make sure your gift card has sufficient balance and is not expired before attempting to sell it. Platforms will verify the card’s validity, and issues can delay or prevent your payout when you sell your gift card.
Alternatives to Selling: Trading or Regifting
While selling gift cards for cash is a practical solution, consider these alternatives:
- Gift Card Exchange (Trading): As mentioned with CardCash, trading your gift card for one you’ll actually use can be almost as good as cash, especially if you opt for a versatile gift card like Amazon.
- Regifting: If appropriate, regift the card to someone who would appreciate it. This is a straightforward option if you know someone who shops at the store on the gift card.
Conclusion: Turning Unwanted Gift Cards into Cash is Simple
Unwanted gift cards don’t have to be a disappointment. With various online platforms available, it’s easier than ever to sell your gift card and convert that stored value into cash. By understanding the different platforms, comparing offers, and considering your priorities, you can confidently choose the best method to maximize your return and turn those unwanted presents into usable funds. Whether you opt for a marketplace or a direct buyer, taking action ensures you don’t leave money sitting idle in your wallet.
Frequently Asked Questions 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 generally accepts prepaid cards from major brands like MasterCard, Visa, American Express, and Discover, along with gift cards from many popular retailers, including Starbucks, Walmart, and Best Buy. The gift card balance must be between $25 and $1,000, and the card should not have any restrictions. They typically 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?
CardCash typically sends payment within one to two business days after your order is approved. You can check the CardCash website for the most up-to-date information on their payment processing times.
