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Sell Gift Cards: Top Platforms and Tips to Get the Best Value

Published by ljh19 on September 12, 2024September 12, 2024

Stack of various gift cards with a 'For Sale' sign"
Sell Gift Cards: Top Platforms and Tips to Get the Best Value

Why Sell Your Gift Cards?

Gift cards are a popular present, but sometimes you receive one for a store you don’t frequent or for a brand that doesn’t align with your preferences. Instead of letting these cards gather dust, you can sell them for cash or exchange them for cards you’ll actually use. This guide will walk you through the process of selling gift cards, highlighting the best platforms and offering tips to maximize your returns.

Top Platforms to Sell Gift Cards

Several reputable platforms specialize in buying gift cards or facilitating gift card exchanges. Here are some of the most popular options:

Platform Features Payment Options
CardCash High payout rates, wide variety of accepted cards ACH, PayPal, check
Raise Marketplace model, set your own price ACH, PayPal, check
CardKangaroo Instant offers, fast payouts PayPal, direct deposit
GiftCash Competitive rates, user-friendly interface PayPal, check, direct deposit

How to Sell Your Gift Cards

  1. Choose a reputable gift card buying platform or marketplace
  2. Enter the details of your gift card (retailer, balance, etc.)
  3. Get an offer for your card (usually a percentage of the card’s value)
  4. Accept the offer if you’re satisfied with the price
  5. Choose your preferred payment method
  6. Ship the physical card or provide the digital card information
  7. Receive your payment once the buyer verifies the card
Infographic showing the step-by-step process of selling a gift card online

Tips to Maximize Your Gift Card’s Value

1. Compare Offers

Check multiple platforms to find the best offer for your gift card. Rates can vary significantly between sites.

2. Sell at the Right Time

Gift card values often increase during holiday seasons when demand is higher. Consider timing your sale accordingly.

3. Keep the Original Receipt

Having the original receipt can increase the value of your gift card and make it easier to sell.

4. Sell Partial Balances

Some platforms allow you to sell a portion of your gift card balance, which can be useful for high-value cards.

5. Consider Trading Instead of Selling

Some platforms offer the option to trade your gift card for one from a different retailer, potentially offering better value than a cash sale.

Safety Considerations When Selling Gift Cards

  • Only use reputable, well-reviewed platforms
  • Be cautious of offers that seem too good to be true
  • Never share your gift card information before verifying the legitimacy of the buyer
  • Keep records of all transactions and communication
  • Understand the platform’s policies on fraud protection and dispute resolution

Alternatives to Selling Gift Cards

If you’re not satisfied with the offers you’re receiving, consider these alternatives:

1. Regifting

Give the gift card to someone who would appreciate it more.

2. Donate to Charity

Many charities accept gift card donations, which can be tax-deductible.

3. Use for Purchases and Resell Items

Buy items with the gift card and resell them on platforms like eBay or Facebook Marketplace.

Frequently Asked Questions

The amount you can get for your gift card varies depending on the retailer, the card’s balance, and current market demand. Generally, you can expect to receive between 60% to 90% of the card’s value. Popular retailers like Amazon or Walmart typically offer higher rates than less common brands.

When using reputable platforms, selling gift cards online is generally safe. However, it’s important to research the platform you’re using, read reviews, and understand their security measures. Never share your gift card information through unsecured channels or with unverified buyers.

Yes, many gift card buying platforms accept partially used gift cards. However, the exchange rate might be lower for cards with smaller balances. Always check the minimum balance requirements of the platform you’re using.

The payment timeline can vary depending on the platform and the payment method you choose. For digital gift cards, the process can be almost instant. For physical cards that need to be mailed, it can take several days. Once the card is verified, most platforms process payments within 1-3 business days.

Conclusion

Selling unwanted gift cards is a great way to turn unused plastic into cash you can actually use. By choosing reputable platforms, comparing offers, and following best practices, you can maximize the value of your gift cards and ensure a safe, satisfying selling experience. Whether you’re looking to declutter your wallet or simply want to make the most of a gift you can’t use, selling gift cards provides a flexible, user-friendly option for managing your unused gift cards.

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