Q:

Where can you cash in gift cards?

A:

Quick Answer

You can sell gift cards on the sites of selected online buyers, such as GiftCards.com or Gift Card Granny; at mall kiosks or other stores; in online auctions; or at grocery store machines, such as those run by Coin Star, explains GiftCards.com. However, using many of these methods, you may not receive the full value of the card, instead receiving anywhere from 60 to 92 percent of what the gift card is worth.

Continue Reading

Full Answer

Companies that buy gift cards resell them to other customers at a price that is slightly higher than what they paid but still below the full value of the card, notes GiftCards.com. When you sell gift cards to such companies, you either have to mail the physical card or provide the code electronically. These companies tend to pay a higher portion of the value of the card for gift cards from larger retailers that have wider varieties of merchandise.

Online auctions provide another outlet to sell your unwanted gift cards, advises GiftCards.com. However, unlike with companies that specialize in selling gift cards and require identification and a valid credit or debit card from customers, online auctions may not employ such fraud prevention. Machines at grocery stores offer another convenient option. All you do is swipe the card, receive an offer and get a printed voucher to take to the cashier.

Learn more about Credit & Lending

Related Questions

Explore