What are Unused Gift Cards?

Unused gift cards are those that have not been redeemed or used by the recipient. They can come in two forms: physical gift cards, which you can hold in your hand, and digital gift cards, which are delivered electronically. These cards can be for specific stores, like your favorite coffee shop, or general-purpose cards that can be used at multiple retailers. While unused gift cards might seem like a hassle, they actually present a great opportunity. Instead of letting them gather dust, you can sell these gift cards and recoup some of their value.

Benefits of Selling Gift Cards

Selling gift cards can be a fantastic way to turn those unused gift cards into extra cash. Here are some of the key benefits:

• Get cash for unwanted gift cards: If you have gift cards you don’t plan to use, selling them can help you get cash in hand.
• Recoup some of the value: Even if you don’t get the full amount, selling gift cards allows you to recover a portion of their value.
• Convenience: You can sell gift cards online or in-person, making it a flexible option that fits into your schedule.
• Variety of options: With numerous websites and services available, you have plenty of choices when it comes to selling your gift cards.

Unused Gift Cards

Unused gift cards are common. More than 47 percent of Americans have at least one unused gift card. The average dollar amount of unused gift cards is $187 per person.

It's important to check the expiration dates on your gift cards to avoid potential losses. Certain cards, particularly those with expiration dates, may not be accepted for transactions or exchanges.

Although you’ll need to give up a certain value of the card, you can sell it for cash. Cash in your wallet is a lot better than that gift card.

Where to Sell Gift Cards

There are several places where you can sell gift cards, both online and in-person. Here are some popular options:

• Online marketplaces: Websites like Raise, CardCash, and Gameflip allow you to sell gift cards online, often providing a quick and easy way to get cash.
• Gift card exchange websites: Sites like GiftCash and Prepaid2Cash specialize in buying and selling gift cards, offering competitive rates.
• Retail stores: Some retail giants like Target and Walmart offer programs where you can trade in gift cards for cash or other gift cards.
• Kiosks: Kiosks such as Coinstar provide a convenient way to exchange gift cards for cash while you’re out shopping.

Third-Party Websites Buy Gift Cards

There are third-party sites that let you exchange your gift cards for cash. Each works differently, so you’ll want to compare and choose the one that fits you.

Purchasing discounted gift cards can provide significant savings, allowing you to find great deals at various retailers and dedicated gift card marketplaces.

Some third-party sites let the users bid on your card. Other sites will purchase your card and then sell it to users themselves.

Depending on the site you use, you can be paid by:

• a check in the mail
• PayPal
• other digital payment
• a gift card you want

Cash is great, but another gift card may give you a better conversion rate.

There are several sites available.

Gameflip

Gameflip lets you sell your unwanted digital gift cards and other items. It’s a blend of eBay and Upwork for gamers, making it easy to sell your gift card online.

To sell your gift card (or other items), you must create a listing. This requires you to make a Gameflip profile. Sell any unused prepaid and non-reloadable gift card for gaming platforms and other retailers.

Popular gift cards include:

• iTunes
• Google Play
• Steam
• PlayStation
• Xbox

You have control over the price, but it’s recommended that you list your card at a discount of two to 15 percent of its value.

Upon purchase, Gameflip transfers the funds into your Gameflip wallet. Although PayPal is not supported, you can withdraw your funds using:

• Payoneer
• Skrill
• Bitcoin
• Wise

Gameflip takes an eight percent cut of all listings. Remember that each wallet withdrawal method has its own associated fees.

Raise

Raise is a third-party marketplace that places the burden of selling your card on you. You’ll be able to choose how heavily you want to discount your card. Raise allows you to view the discounts that other sellers with similar cards offer.

The downside is you won’t receive any money until someone buys your card.

Raise charges a 15 percent fee for using their site. This is a higher fee than any other site. But Raise’s reputation might make it worth the price if you want to get the most money for your gift card.

There are two payment methods. These include ACH direct deposit or PayPal.

CardCash

CardCash eliminates the hassle of selling the card yourself. Once they verify your gift card, they pay you and take care of the reselling themselves.

Additionally, CardCash accepts merchandise credits, allowing customers to convert their unwanted merchandise credits into cash through a hassle-free verification process.

Typically, CardCash gives you 92 percent of the cash value of your gift cards. However, the return does fluctuate depending on the retailer.

One feature of CardCash that differentiates it from other sites is it’s pretty open to even the most obscure gift card. You may not receive a big return on that oddball gift card, but you’ll receive something.

CardCash lets you trade in your gift card for select others. By doing this you receive up to 11 percent more than if you just cashed out. Popular trade-ins include:

• Chewy
• Amazon
• Airbnb

Because these trade-in options are so broad, it’s as good as cash.

Safety and Security

When selling gift cards, it’s crucial to prioritize safety and security. Here are some tips to help you stay safe:

• Research the buyer: Before selling your gift card, make sure to research the buyer or website to ensure they are reputable.
• Check for fees: Be aware of any fees associated with selling your gift card, so you know exactly how much you’ll receive.
• Use a secure website: Ensure the website you use to sell your gift card is secure and has good reviews.
• Keep your information private: Never share your personal or financial information with anyone you don’t trust.

Avoid Scams and Fees

To avoid scams and unnecessary fees when selling gift cards, follow these tips:

• Be cautious of too-good-to-be-true offers: If an offer seems too good to be true, it probably is. Trust your instincts.
• Read the fine print: Always read the fine print and understand any fees or terms associated with selling your gift card.
• Use a reputable website: Stick to well-known and reputable websites to minimize the risk of scams.
• Don’t pay to sell: Avoid any service that asks you to pay to sell your gift card, as this is often a red flag for a scam.

By following these guidelines, you can safely and effectively turn your unwanted gift cards into cash.