Have a pile of unused gift cards to stores you don’t frequent? Instead of throwing them out, you could turn your unwanted gift cards into cash. It only takes a few minutes and can earn you a few bucks while you clean out your wallet. Here’s what you need to know.
Plenty of online marketplaces, such as Raise.com or Cardpool.com, will purchase unused gift cards. In turn, they then sell them to other individuals.
While this is an easy way to get money from a gift card, it isn’t without its downsides. In exchange for selling your gift card for you, these sites will purchase your card for less than its face value. While you may lose a few bucks on the value of the card by selling it online, it’s still better than not doing anything with your card at all.
If you don’t want the cash, you can always trade-in a card. Sites like CardCash.com let you swap your gift card for a different retailer for the same value, or even more. So not only do you end up with a card you will use, but you can actually increase the value of the gift card by swapping. Pretty sweet, huh?
And some retailers, like Target, have a card swapping program. You can actually bring gift cards from various stores into Target and swap it for a Target gift card. Pretty sweet!
Find an Exchange Station
Did you know various kiosks will exchange your gift cards for cash in person?
If you want cash fast, then finding a kiosk is your best bet. All you need to do is find a kiosk near you and bring your gift card and ID.
You can use the site Cardpool to buy and sell gift cards. Cardpool also recently released a feature allowing you to exchange your cards in person for cash. You can find a location near you by using the convenient search feature on their website.
You can always regift an unused card to a friend if it’s something they could really use.
But before you regift a card, make sure it is still valid and unexpired. You can typically check the status of your gift card n a retailer’s website.
And besides regifting it, you could purchase a gift for someone else with the funds on a gift card you don’t want.
Rachel Slifka is a freelance writer and human resources professional. She is passionate about helping fellow millennials find success with their finances and careers. Read more by checking out her website at RachelSlifka.com.
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