There are indeed many ways in which you can sell off gift cards in order to get cash and the most common way is to sell off the gift card online to gift reseller which buys unwanted gift cards. They send back payments to the seller and they again resell the gift card to some other customer. As per reports from National Retail Federation statistics, around 80% of consumers wished to purchase at least one gift card before they stepped into the holiday season. Hence, it is most likely that you will receive one.
You will be rather happy to note that there are many ways in which you can convert any unwanted gift card into cash. If you’re not aware of the ways, here are some that you may consider.
1: Sell it
If you want to convert a gift card into cash immediately, you have to move towards the nearest Coinstar Exchange Kiosk. This is a place where you can swipe or scan the gift card in order to get the monetary offer. It is only when you accept the offer that you can receive the cash. In case you can wait for the cash for a long period of time, you may shop around and get enough money from any unwanted gift card and try out with some reputable online market like Raise.com or Cardpool.com. Just make sure that every gift-card exchange has different processes like paying out and selling. Hence, read out the rules first.
2: Check the shape of your gift card
When you reach the Gift Card Exchange machine, you will either require swiping your gift card so that the machine is able to read the magnetic stripe or you may need to hold the bar code in front of the scanner. In case your gift card is of an odd shape, either too big or too small, you will most probably need to sell it in the kiosk.
3: Scan or swipe the card
When you reach the machine, the first thing that you need to do is scan the bar code or swipe the card in the card reading machine. When the card can be recognized, you will be asked to confirm it to the card retailer.
4: Accept the offer of gift card
Gift card exchange pays up to 85% of the gift card value but the total amount of the offer which you will get will depend on how famous your gift card is. The bigger department store gift cards, the grocery store and gas station gift cards like Walmart or Target will usually fetch you higher resale values as compared to the cards which are got from the smaller retailers.
Finally, if you don’t use any of the above mentioned options, you can even think of regifting the unwanted gift card in case you don’t wish to wait long enough. As per the US Federal Trade Commission, any gift card is valid for 5 years from the time it was purchased.