As a consumer, you may have received gift cards for holidays or birthdays that you never used or forgot about. Fortunately, there are now trade-in services available to help you unlock the value of these unused gift cards. These services allow you to trade in unwanted gift cards for cash or other gift cards, giving you the ability to put the value of those cards towards something you truly want or need. Let’s explore how these services work and how they can benefit you.
What are trade-in services for gift cards?
Trade-in services for gift cards allow you to exchange your unused gift cards for cash or other gift cards.
How do trade-in services work?
You can either visit a physical store or use an online platform to trade in your gift cards.
Why use trade-in services for gift cards?
Trade-in services allow you to get value from gift cards that you might never use.
What types of gift cards can you trade in?
Most gift cards from popular retailers and restaurants are eligible for trade-in services.
How much money can you get for trading in gift cards?
The amount of money you can get for trading in gift cards will depend on the balance of the card and the service you use.
2. These services offer a hassle-free way to get the most out of gift cards that would otherwise go to waste, allowing users to save money and maximize their purchasing power.
But will you? About 6 percent of all gift cards are never used, according to Anduro Marketing. Rather than losing money, why not sell the card? The market has greatly consolidated in the last year. Most gift card websites now focus on selling cards at a discount or buying in bulk. The two main sites that still buy unwanted gift cards from individuals are Raise and Cardpool and they have very different business models. Cardpool buys cards directly from consumers. Raise lets you list the cards you want to sell on their marketplace. Founded in , Cardpool buys physical and e-gift cards from about major retailers, including clothing and department stores, movie theatres, jewelry and electronics stores, restaurants, pet and auto parts stores, and supermarkets. The process is simple and quick. Just enter the brand, card code and balance. Once that information is verified, Cardpool will make you an offer. There are two payment options Amazon eGift card or a check in the mail. In the next few months, the company plans to offer a few other payment options, such as Venmo, PayPal and Western Union. Cardpool CEO Jones pointed out that the company received some bad reviews last year. The site now has new management, he noted. Raise is a marketplace for selling gift cards. It accepts listings for thousands of major brands for free. You get to set the price. If the card sells, Raise collects the money from the buyer, deducts a 15 percent fee and forwards the balance via check, PayPal Funds or ACH direct deposit. Since Raise acts as the middleman in the transaction, neither the seller nor the buyer should worry about fraud. How much of a discount do you need to offer to get that card to sell? Raise can help you with that. If you want your card to sell in a couple of hours, you might want to be more aggressive with your discount. Otherwise, you could get burned. Remember A thief can drain the money stored on a card even if you have the piece of plastic in your possession if they trick you into giving them the number on that card. Want more tips like these? Sign up for our newsletter and follow us on Facebook , Twitter and Instagram. IE 11 is not supported. For an optimal experience visit our site on another browser. Better Logo. Share this . NBC News Logo. Follow better. Search Search. By Herb Weisbaum. How to tackle post-holiday bills Jan. Good Cents Holiday credit card bills rolling in? Here are 3 things you can do to pay them off. Herb Weisbaum.
Gift cards can make excellent presents for hard-to-please loved ones and savvy shoppers alike. Why regift if you can exchange your egift or physical gift card for most, if not all of its full value? Several sites let you sell unused gift cards for cash or trade them for ones you actually want, often at a friendly discount. They all have different benefits, so really, it just depends on your preferences. Visit Gift Card Granny. You can choose to either accept an offer or list your card for the desired price. Need money today? The site even lets you search for gift card exchanges near you so you can sell physical cards and get paid instantly. Visit Cardpool. You can also get a bit more money if you list your gift card in the Cardpool buyer marketplace. For some gift cards, this increases the payout by 30 cents. Visit Raise. With more than two million buyers and sellers and a huge assortment of accepted brands, the Raise marketplace is a particularly great site to list gift cards and e-gifts from lesser-known stores. Raise also offers customers a one-year money-back guarantee on gift card purchases, which is great for careful shoppers. Visit CardCash. Much Like Cardpool, CardCash lets you choose between an instant pay out or a gift card trade-in worth up to CardCash also has some of the fastest pay outs around generally within one to two business days. Advertiser Disclosure At Slickdeals, we work hard to find the best deals. Where to Sell Gift Cards Online 1. Our editors strive to ensure that the information in this article is accurate as of the date published, but please keep in mind that offers can change. We encourage you to verify all terms and conditions of any product before you apply. Lesley Sheridan March 8, 3 minute read. Facebook Twitter Reddit Share via Email. Lesley Sheridan Lesley Sheridan is a freelance fashion and beauty writer who lives for Pinterest boards, animal prints, strappy shoes and coupon codes. Related Articles. Check Also. Facebook Twitter.
Doing a gift card exchange for cash is what these dedicated websites are all about, so you can turn an unwanted gift into money to spend on something else. Be wary of websites that are known as less reputable, as some will try and insert hidden fees into the exchange, or withhold payment, and waste your time and money. For more help deciding where to shop, check out our guides to the best auction sites and the best online shoe stores. Raise has a well-designed gift card exchange website.