How To Sell Your Unwanted Gift Cards For Cash

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by Fred Redding

Have you ever received a gift card to a store that you don’t do a lot of shopping at? This happens to all of us at one time, or another. In fact, millions of Americans every year receive gift cards that they will never use. That’s right, millions of gift certificates and gift cards go unused each year. They end up being lost, accidentally destroyed, or they end up sitting around our homes gathering dust for years.

There are several reasons why we receive gift cards that we will never use. We often forget to take them with us when we go shopping, we don’t like a particular store, or we have our eyes on another more tempting purchase. Whatever your reason is for selling your gift cards; you are in good company. There are numerous methods available today for converting your gift cards into cash.

In this article, we will look at the top three ways to sell your gift cards. There are literally dozens of ways you can turn your card into cash, but we decided to look at the methods that get you the most money back, and require the least amount of time and effort.

FIRST THINGS FIRST

Before you sell your card; it is important to know what the balance of it is. If you do not know the balance of your card; be sure to find out before you try to sell it. You can check your gift card balance online, inquire about it with a phone call, or check the card balance at the store location.

The easiest way to find out what phone number to call to check the balance, or which website to go to; is by simply flipping the card over. The back of all or most gift cards will usually include instructions for checking the current balance of the card.

GIFT CARD SELLING METHOD #1

Selling your unwanted gift cards has become so popular that some websites have been created that are dedicated entirely to buying (and selling) gift cards. If you want to sell your gift cards; just go to Raise and/or Cardpool. You can sell your gift cards from just about any chain store in the United States.

All you need to do is submit your card, and you will receive payment by check, or paypal, within 24 hours after your balance has been verified. This is definitely the least time consuming method for selling your cards. When it’s all said and done you can turn your gift cards into cash for less than 5 minutes of your time.

GIFT CARD SELLING METHOD #2

If you would rather sell your card(s) locally, or you prefer to sell offline, then you should consider using an online or offline classified service to find a buyer for your card, or gift certificate. Online sites such as Craigslist and Kijiji will let you post a classified ad for free. Your local newspaper or a Penny Saver classified advertiser would be the best place to purchase a classified ad.

Just remember not to spend too much on an ad, and just because you post a classified ad does not mean your card will sell. If you do find a buyer from a classified ad; you will then need to arrange a meeting to sell the card. Make sure you only accept cash for these transactions, and only meet in a safe public area.

GIFT CARD SELLING METHOD #3

Finally, you can choose to sell your card in an online auction. The auction site that makes the most sense to use is Ebay. If you already have an Ebay account, and are familiar with the way the auctions work; then you are all set. If you do not have an account; it will take around fifteen minutes to sign up for one, and about one to two hours to understand how the auctions work.

There is also a feedback system on Ebay that helps users determine whether another user can be trusted. If you are starting out with zero feedback; consider getting some feedback first; before you attempt to make a sale. Other users may not trust you enough to purchase your card. if you have zero feedback, or if you have just started using the site.

IN CONCLUSION

So there you have it; the top three ways to sell your gift cards. Each one has benefits and drawbacks (pros and cons). It all depends on how quickly you want to turn your card into cash, or how much time you are willing to invest in selling your gift card(s).

Always remember that your time is worth something, even if your pay is low; your time is still valuable. Consider this advice before selling your card, and remember to always maximize both your selling price, and your time, whenever selling gift cards and/or certificates.

Fred Redding is a freelance author based in Toronto, Canada. He writes for a variety of publications with a focus on Personal Finance, Prepaid Payment Cards, and Credit Cards.