Do you have a pile of unused gift cards collecting dust in your drawer? Converting those gift cards into cash can free up some extra money and allow you to spend it wherever you like. Here’s a step-by-step guide on how to turn your gift cards into cash efficiently and safely.
1. Sell Your Gift Cards Online
There are several reputable online marketplaces where you can sell your gift cards for cash giftcardmall/mygift balance. Websites like CardCash, Raise, and Gift Card Granny allow you to list your unused gift cards for sale at a price you set, although you’ll typically need to sell them for slightly less than their full value to attract buyers. The process is straightforward:
- Sign up for an account.
- Enter the gift card details (issuer, amount, etc.).
- Set your price (most cards sell for 80-90% of their face value).
- Upload the card and wait for a buyer.
These platforms handle the transaction and ensure security for both sellers and buyers, often guaranteeing the card’s value for a certain period.
2. Use a Gift Card Exchange Kiosk
If you prefer instant gratification, look for a gift card exchange kiosk in your area—often found in large grocery stores or shopping centers. These kiosks verify your gift card’s balance on the spot and offer you a slightly reduced amount in cash or a voucher to use in the store. The process is fast, but be aware that the payout is usually less compared to online sales.
3. Check with Gift Card Issuers
Some stores and restaurants might allow you to exchange unused gift cards for cash if the balance is below a certain amount, as mandated by state law. For example, in California, gift cards with balances under $10 can be redeemed for cash. Check the back of your gift card for terms and conditions or contact customer service for the issuer’s policy.
4. Trade Gift Cards
Another option is to trade your gift cards with friends or family members. This can be a great way to get value from a gift card you won’t use without losing any money in the process. There are also online platforms like Reddit’s r/giftcardexchange where you can find people willing to swap gift cards.
5. Regift or Donate
If converting your gift cards to cash seems too cumbersome, consider regifting them to someone who would appreciate and use them. Alternatively, many charitable organizations welcome gift card donations, which can be a rewarding way to put those unused cards to good use.
6. Buy Items to Resell
If you’re savvy with online sales, consider using your gift cards to buy popular or discounted items and then resell them for cash. This requires some market knowledge and effort but can result in getting closer to the full value of the gift card in return.
Conclusion
Turning gift cards into cash is a practical way to utilize what might otherwise be wasted resources. Whether you choose to sell online, trade, or even regift, there are plenty of methods to extract value from unused gift cards. Just choose the option that best fits your needs and offers the most convenience and security.