Gift cards take the guesswork out of picking someone a present, especially if you don’t know the recipient that well. But it may shock you to hear that $3 billion worth of gift cards go unused every single year in America.
We all know what it’s like to receive unwanted gift cards. Wouldn’t it be easier if you had the cash instead?
Selling gift cards for cash doesn’t need to be complicated or time-consuming. To discover some of the simplest ways of making money online using your gift cards, just keep reading!
Friends and Family
A quick and cost-effective way to sell your unwanted gift cards for cash is through family and friends. There are two ways you can do this:
If a friend or family member frequently visits the shop or website of your gift card, then you’re in luck. Reach out to them!
Use social media to see if anybody would be interested in buying the gift card from you. Just be careful. The person who gave you the card might not be happy to see that you’re selling it.
The benefit of this method is that a friend or family member will often pay >95% of the card’s value, sometimes even the full 100%. It might require a bit more legwork, but the payoff can be worth it.
Gift Card Websites
Around 6% of gift cards are never used. So, it’s no surprise that there are a variety of gift card websites that allow you to sell them.
Some of these websites only allow you to trade your unwanted gift cards for other vouchers or cards. But if you want to sell your gift cards for cash, there are websites for that too.
Gift card websites can differ slightly in terms of their rules. For example, GiftCash and CardPool set the price of your card. For popular retailers, this can be as high as 93% of the card’s value. But you need to have at least $10-$15 on the card to sell it, and at least $5 on e-gift cards.
Raise is an example of a website that gives you the freedom to set the price of the card yourself. You can also sell cards that have partial balances on them. However, you’ll lose 15% of the final sale price as a commission.
Some gift card websites will even offer additional rewards or cashback, simply for buying or selling unwanted gift cards. Have a look at this example to see how it works.
Gift Card Kiosks
Another option is to use a gift card kiosk.
These machines work similarly to a website, whereby you input the info of your card, receive a value, and then choose whether to accept it. If you do, the machine prints off a receipt which can be exchanged for cash via a store cashier.
Gift card kiosks can pay up to 85% of the card’s value. The downside is searching for one and traveling to it.
Ready to Sell Your Gift Cards for Cash?
Did you enjoy the article? We’ve explored the three best options for selling gift cards for cash. If you have any other ideas, we’d love to hear from you! Leave a comment or reach out to us via social media!
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