It is common to give or to receive gift cards in lieu of a physical present. This is one way to ensure the receiver gets exactly what he or she wants, and it is also convenient for the one giving the gift. Sometimes people get gift cards and realize they do not have a use for them. In these cases, they can sell the gift cards for cash. Here are several options for selling gift cards. Although the cash trade-in value is usually less than the actual value of the gift card, it can be an easy way to get cash quickly.
Gift Card Exchange Kiosks
Gift card exchange kiosks are available at some grocery stores and malls. These are easy-to-use resources for selling gift cards. All one needs to do is to bring the gift cards and an ID. The kiosk will give people an offer for the card, which people can choose to accept or decline. Some kiosk companies offer an online locator search to find the nearest location. They may also offer up to 92 percent of the original gift card value, although the percentage fluctuates from brand to brand.
Put gift cards up for sale in local community marketplaces online or on social media. It is an easy way to connect to potential buyers. When meeting with any buyer, make sure to use reasonable caution. Many people opt to meet buyers in public places, at coffee shops or in parking lots at grocery stores.
Sell Gift Cards on Auction Sites
Another place to sell gift cards is through an online marketplace. Selling on an auction site requires people to sign up on the website for an account, and it also requires a way to receive payments online. There are several nuances to selling successfully on online auction marketplaces, so it is helpful to learn the basics before making the first listing.
Online Gift Card Selling Websites
There are several online websites that specialize in buying people's gift cards. Each site differs in the percentage of the gift card's value that it will cash out, ranging from around 80 percent to 90 percent. Using these websites is more convenient and possibly quicker than trying to sell gift cards through a community marketplace or through an auction site.
Trade Gift Cards
Another alternative to selling gift cards is to trade them for a gift card from a more desirable store. Some websites allow people to trade cards. The trade-in value is typically less than the actual value of the card and depends on the store brands and their popularity. Even so, there is value in having a gift card that one is bound to use rather than holding onto a gift card that is not needed.
Alternatives to Selling Gift Cards
Another option to selling the gift cards for cash is to take the money left on the card, buy a desirable item and resell it in a community marketplace or an online marketplace. This works only if there is substantial money on the card and if it is to a store with items that buyers want. Such items include electronics, video games and jewelry.