Turn gift card into cash:
Get paid by check, Paypal or money wire.
Own a gift card that you don’t want? Many gifts givers choose to give a gift card and many times, the gift card receiver does not have anything to buy with that specific retailer, or he bought something and has positive balance left on his card, or the meaning of redeeming the card means spending more cash that you don’t want to spend.
Want cash? Turn your gift card into cash or exchange it for any other gift card that you want.
At CardPool –
CardPool offers up to 92% of your gift card’s value in cash, and their service is impeccable. However, they do not offer instant PayPal payments on any cards, which makes them a slightly less attractive option for those looking for a very quick sale. Yet, the high values they offer make them the first place you’d want to check when selling your gift card.
At GiftCards.Com –
GiftCards.com offers both check and Paypal as methods of payment, and they also support the quick sale process, if your card has a pin number.
How to Turn Gift Cards Into Cash
A variety of online sites offer cash back by sending you a check, a money wire or by transferring the funds into your Paypal account.
Each site places a different value on your card and not all sites accept all cards.
If you have a $25.00 gift card for Kmart,
PlasticJungle will give you $20.75 for it,
while GiftCardRescue will only give $19.50 for the same exact card.
Also, not all sites offer all payment options.
If you have a $50.00 gift card for Kmart,
CardPool will give you in cash $41.50 for mailing it to their offices,
while PlasticJungle allows you to receive the same $41.50 in check OR Paypal.
If you plan to shop online with the money you receive,
you should check the option to get an Amazon gift card instead of your unused card.
The reason for this is that no matter how much your cash offer is,
you can get 5% more when you get back an Amazon gift card.
Keep in mind that not all sites offer this option.
The surge of gift card exchange sites has allowed users to turn gift card into cash. This moneymaking strategy is gaining popularity, especially with those who have gift cards just lying around with no use at all.
Here are some frequently asked questions about how to turn gift card into cash:
Q: What sites give the best deals for gift cards?
A: Different sites give different values for a gift card. This depends on brand popularity and the current season. Sites like Plastic Jungle and Cardpool offer up to 92% of the card’s value for popular retailers like Wal-Mart. Popular brands or retailers have greater value for their gift cards than less popular ones. Better deals for certain cards are also given depending on the season. A gift card for Office Depot sells better than a Victoria’s Secret card on Father’s Day.
Q: How does one get paid for selling gift cards?
A: There are many ways a seller can get paid for a gift card. The most common method is through a check mailed after the card has been verified by the buying site. Once the seller confirms the sale and mails the card, the site verifies the value of the card, then sends the payment to the seller. Most sites offer free shipment of the card. Some sites also offer payment through PayPal or through an Amazon.com gift card (and give a little extra for those opting for this trade). Payments made through PayPal can be transferred to a bank account or be credited to a debit/credit card.
Q: Do sellers have another option aside from mailing the card?
A: Sites claim no responsibility for mailed cards before receipt so some sellers are hesitant to send out the cards where it might be lost in transit. To answer this issue, some sites offer electronic redemption of money from sold gift cards. This is the quickest way to turn gift card into cash; the seller only needs to enter the card number and its PIN (if any) and s/he instantly gets paid through PayPal. Sellers can also get a purchasing power from Amazon.com through this option. This transaction requires a registered credit card.
There is a downside to this option though – It is not available for all gift cards’ retailers and it provides you with less cash than the mail in option.
Q: How can a seller check the card’s value?
A: Most merchants provide phone numbers or website addresses at the back of the cards in case the bearer wants to know the remaining balance. Just call the retailer’s customer service number or log on to their site. You may need to enter the card number and the PIN if there’s any. Another option is to go to the actual store and ask the person at the cash register to check the card balance. The second option can be quite time consuming. A seller can also take a guess at the card’s value. The site verifies the balance upon receipt of the card and bases the payment on the actual value.
Q: Are there other ways to turn gift card into cash?
A: Yes, there is another way to earn extra cash through unused gift cards. A seller can always go to the store and scout the place for a shopper who would be willing to exchange his cash for the card. While this method most often assures the seller of getting the actual value of the card after it has been verified by the store representative, it can be time-consuming and even embarrassing for some. Selling gift cards through the Internet and getting hassle-free payments is still the best way to turn gift card into cash.