Gift cards are an inevitable gift that you’ll likely receive at least once during Christmas, but here’s how to sell unwanted gift cards for cash.
Don’t get me wrong, gift cards are great for people who you don’t know quite well, but still want to give them something for Christmas, like the mailman or your hair stylist. However, if you give them a gift card to a store that they don’t shop at, you’ve essentially given them money that they can’t or don’t really want to use.
Sometimes you’re on the receiving end of this, and getting a gift card — while very generous of the gifter — can sometimes end up being something that you’ll never use. So if you don’t shop at Macy’s and you receive a Macy’s gift card, you’re kind of stuck between a rock and a hard place.
The good news is that there is likely someone out there in the world who would gladly buy that gift card from you and put it to good use, and in return you’ll get actual cash that you can spend anywhere, not just at Macy’s.
If you have some unwanted gift cards that you’d rather trade in for some cold hard cash, here’s how to sell them.
Gift Card Websites
There are a handful of websites that are dedicated to buying and selling unwanted gift cards, so there’s bound to be someone out there who will buy your gift card in no time.
However, there are differences in some of these websites. Some websites, like CardHub, allow you to set a price and have someone else buy it from you, similar to any other online marketplace like Craigslist or eBay. The only downside is that the gift card could be listed for weeks without a bite.
Other websites, like CardCash, will immediately buy your gift card from you for just a fraction less than what it’s worth (with the benefit of being able to sell it immediately). This price can fluctuate based on demand for that specific gift card, though.
If you’d rather trade gift cards or receive some other type of currency in return for your unwanted gift card, Reddit’s r/GiftCardExchange is a great place to check out.
The subreddit consists of users just like you who are looking to get rid of their unwanted gift cards, so it’s likely that you’ll be able to find a gift card you’ll actually use while selling the ones you don’t want. Or you can simply just ask for PayPal or even Bitcoin in return.
Keep in mind, though, that most buyers will rarely spend full price on your gift card, so expect to lose as much as 20% off the face value of your unwanted gift card.
Regift Your Gift Cards
A great way to avoid the hassle of selling your unwanted gift cards is to simply regift them to someone else.
Regifting is a slightly controversial practice, but more and more people are doing it these days, so it’s starting to become more acceptable in the gift-giving world.
If you receive a gift card to a store that you don’t shop at, there’s perhaps someone else in your family or circle of friends who do shop at that store, making your gift card a great gift for them. Plus, you don’t have to spend any more money on a gift, so it’s a win-win situation.