Can You Exchange Gift Cards For Money

Sure, it'southward the thought that counts. Just sometimes you go a gift card y'all actually don't want or tin't use.

Possibly y'all don't eat at that eatery. Maybe there'due south no store nearby. Perhaps in that location's non plenty value on the menu and yous would need to spend your own money to buy something.

Unless you can regift it, chances are you'll toss that card in a drawer or put information technology in your wallet, and hope yous'll find a fashion to use it someday. But will you?

Near 6 pct of all souvenir cards are never used, according to Anduro Marketing. If you oasis't used the card within 180 days, chances are you won't, co-ordinate to the Paytronix Annual Souvenir Bill of fare Sales Report 2019.

Rather than losing money, why not sell the card? You won't go total value for it, merely it's better than losing the card or forgetting to employ it. That'due south a 100 per centum loss.

"I'd rather meet people spend their gift cards, redeem them, and get the full value, but I really like the fact that in that location's a backup program if you can't do that — sell them," said Shelley Hunter, Gift Card Girlfriend at GiftCards.com.

Where to sell your unwanted gift cards

The market has profoundly consolidated in the last year. Well-nigh souvenir 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 dissimilar business concern models. Cardpool buys cards directly from consumers. Raise lets you lot list the cards you lot desire to sell on their marketplace.

Cardpool

Founded in 2009, Cardpool buys physical and e-souvenir cards from nigh 250 major retailers, including clothing and department stores, movie theatres, jewelry and electronics stores, restaurants, pet and machine parts stores, and supermarkets.

"What we pay actually depends on the popularity of the brand and what we tin can sell information technology for after we purchase it," said David Jones, Cardpool'due south CEO. "For a carte that's really in high demand, like iTunes, Walmart and Target, nosotros would pay equally much as 92 percent of the value, whereas for less popular cards there may exist a discount of twenty to 30 percentage."

The process is unproblematic and quick. Just enter the brand, card code and balance. Once that data is verified, Cardpool volition brand yous an offer. In most cases, you lot won't need to send the concrete bill of fare.

There are two payment options: Amazon eGift card or a check in the mail. You'll get 6 percentage more if you cull the Amazon e-gift card. For example, we went to the Cardpool site to get an instant quote on selling a $100 Nordstrom gift carte du jour. Cardpool offered $70 via bank check and $74.20 via Amazon eGift menu.

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 visitor received some bad reviews final yr. The site now has new direction, he noted.

"For anyone who had a bad experience, I want them to know that those customer service issues accept been stock-still," Jones told NBC News BETTER.

Raise

Enhance is a marketplace for selling gift cards. It accepts listings for thousands of major brands for gratuitous. You become to prepare the price.

If the carte du jour sells, Raise collects the money from the buyer, deducts a fifteen percent fee and frontwards the residue 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 virtually fraud. "Nosotros take 3 million customers, and then nosotros're able to drive traffic and move cards actually speedily," said CEO Jay Klauminzer.

How much of a discount exercise you demand to offer to go that card to sell? Heighten tin can help you with that.

"We have hundreds of thousands of cards listed, and so nosotros've got enough data over time, that nosotros can really tell a person what they're going to need to sell it at," Klauminzer explained.

For popular cards, such equally Costco, Target or Walmart, y'all can offer a very small-scale discount, between 1 and 2 percent, and information technology will sell, Klauminzer told NBC News BETTER.

Source: https://www.nbcnews.com/better/lifestyle/get-gift-card-you-don-t-want-here-s-how-ncna1124041

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