Consider it our gift to you: Some tips for turning cards into cash.
Maybe you got one for a birthday. A long-awaited graduation. Or as a holiday stocking stuffer. Whatever the occasion, a gift card can be the stuff of either pleasure or pain: You’ll either be eager to use it at one of your favorite spots or you’ll groan at the thought of adding to the collection of unused, unwanted, and unremembered cards gathering dust in the top drawer of your desk.
Consider the following easy options if you’re looking to turn a well-intentioned gift card into hard cash.
You Might Want To Stay Away From eBay
Expect to take a loss if you try to sell a gift card on eBay: Buyers aren’t likely to buy your gift for more than 80 to 90 percent of what it’s worth; for example, a $100 card can lose between $10 and $20 of its value. What’s more, (or, actually, less…) you may be responsible for eBay’s insertion fees, a performance fee if your eBay account isn’t quite up to par, and a final value fee.
Gift Card Exchange Sites: From Never-Gonna-Be-Used To User Friendly
It’s possible to exchange your gift card for cash on gift card exchange websites. Simply input the card brand and the balance to get a quote on how much you can expect to reap when selling your gift card.
Rates vary depending on the service and the card brand. Some sites allow for inputting the gift card number and receiving payment electronically, eliminating the need to forward to the card by snail mail. Some of the leading online gift card buyers include Card Pool, Card Cash, Clip Kard, and Card Kangaroo.
Rise To The Occasion And Get Paid On The Gift Card Exchange Site Raise
On Raise, you can sell any gift card or even a store credit whether it’s new or partially used. You can list your card without having to dish out any up-front fees and set the price you’re asking for the card. The more demand for the type of card you have (gift cards from major retailers like Best Buy, Target, and Walmart are big sellers) the more you can expect to get for it.
Be aware, however, that Raise takes 15% of the selling price. Most cards sell within 24 hours but if your card doesn’t sell in a couple of days you have the option to adjust the price in hopes of attracting more buyers. And at any time, you can unlist your card if you change your mind. Because who knows — time may tell if you can that give card from Aunt Tillie to good use.