Gift cards are often seen as a convenient and versatile gift. However, sometimes you might receive a gift card for a store you don’t frequent or for items you don’t need. Instead of letting that gift card gather dust in your wallet, you can easily exchange it for cash. Selling gift cards for money is a smart way to unlock the value of unwanted presents and put funds towards something you truly desire.
Why Sell Your Gift Cards for Cash?
Gift cards, while thoughtful, are not always the perfect present. You might receive a gift card to a store you rarely visit, or perhaps you simply prefer cash to the specific offerings of a particular retailer. Whatever the reason, selling your gift cards for money offers several benefits:
- Flexibility: Cash provides ultimate flexibility. You can use the funds for anything you need or want, whether it’s paying bills, saving for a vacation, or making everyday purchases.
- Avoid Unnecessary Spending: A gift card might tempt you to buy something you don’t really need just to use up the balance. Selling it allows you to avoid impulse buys and use the money more purposefully.
- Unlock Value from Unused Gifts: Unused gift cards are essentially frozen assets. Selling them converts that locked-up value into liquid cash you can use immediately.
- Convenience: With numerous online platforms, selling gift cards is convenient and can be done from the comfort of your home.
Top Platforms to Sell Gift Cards for Money
Several reputable online marketplaces specialize in buying and selling gift cards. These platforms offer a streamlined process to convert your unwanted gift cards into cash. Here are some of the leading options:
1. CardCash
CardCash is a popular and well-established platform known for buying a wide range of gift cards. They offer a straightforward process: you enter the gift card details, and CardCash provides an instant offer. If you accept, they will verify the card and send you payment, typically within one to two business days.
CardCash boasts several advantages:
- High Payout Rates: CardCash often offers competitive rates, sometimes up to 92% of the card’s value, although this can vary depending on the retailer and demand.
- Wide Acceptance: They accept gift cards from a vast list of merchants, increasing the likelihood of you being able to sell your card, even if it’s from a less common store.
- Trade-in Option: CardCash also allows you to trade your gift cards for other gift cards, often with a bonus value of up to 11%. This can be beneficial if you’d prefer a gift card to a more versatile retailer like Amazon.
- Fast Payment: They are known for their quick payment processing, ensuring you receive your money promptly.
However, it’s important to note that payout rates fluctuate. For example, a $100 Walmart gift card might fetch a higher percentage than a gift card to a less popular store. Always check the current offer on their website.
2. Raise (including GCX)
Raise is another prominent online marketplace for gift cards. GCX (Gift Card Exchange) is a subsidiary of Raise, specifically focused on gift card selling. Raise operates more as a marketplace, allowing you to list your gift card for sale and set your own asking price.
Key features of Raise and GCX include:
- Control Over Pricing: You have the flexibility to determine the discount you’re willing to offer on your gift card. This can be advantageous if you believe your card is in high demand.
- Marketplace Dynamics: You can see what discounts other sellers are offering for similar gift cards, helping you price your card competitively.
- Reputable Platform: Raise has a strong reputation in the gift card marketplace, providing a level of trust and security for sellers.
However, selling on Raise requires more effort as you are responsible for listing and waiting for a buyer. They also charge a 15% fee on sales through GCX, which can impact your net return. Payout methods include ACH direct deposit and PayPal.
3. ClipKard
ClipKard is another platform to consider when looking to sell gift cards for money. They offer a similar service to CardCash, providing instant offers for your gift cards.
Advantages of ClipKard:
- Instant Offers: Like CardCash, ClipKard provides quick offers, making the selling process efficient.
- Competitive Rates: ClipKard aims to offer competitive payout rates, encouraging sellers to choose their platform.
- Various Payment Options: They typically offer multiple payment methods, including direct deposit and PayPal, providing flexibility in how you receive your funds.
It’s always recommended to compare offers from multiple platforms like CardCash, Raise/GCX, and ClipKard to ensure you’re getting the best possible deal for your specific gift card.
Tips for Selling Gift Cards Online
To maximize your return and ensure a smooth selling experience, keep these tips in mind:
- Compare Offers: Don’t settle for the first offer you receive. Check multiple platforms to compare payout rates and choose the one that gives you the most cash for your gift card.
- Check Gift Card Balance: Before listing or selling your gift card, verify the exact balance. This ensures accuracy and avoids any issues during the transaction.
- Understand Fees and Payout Methods: Be aware of any fees charged by the platform and the available payout methods (e.g., direct deposit, PayPal, check). Choose a method that is convenient and cost-effective for you.
- Read Reviews and Check Reputation: Before using any platform, research online reviews and check their reputation to ensure they are legitimate and reliable.
- Act Quickly: Gift card values can sometimes fluctuate, and retailer promotions may change. Selling your gift card sooner rather than later can help you secure a better value.
- Be Aware of Scams: Be cautious of unsolicited offers or platforms with unusually high payout rates, as these could be scams. Stick to reputable and well-known marketplaces.
Buying Discounted Gift Cards: An Alternative
Beyond selling, these platforms also offer the option to buy discounted gift cards. If you regularly shop at a particular store, purchasing discounted gift cards can be a smart way to save money. You can often find gift cards for less than their face value, essentially giving you a percentage off your purchases.
When buying discounted gift cards, consider using a credit card that maximizes everyday spending rewards. Cards like the Citi Double Cash® Card, Chase Freedom Unlimited®, and Wells Fargo Active Cash® Card offer solid cash back rates on all purchases, further enhancing your savings.
Frequently Asked Questions About Selling Gift Cards for Money
Q: Can I sell any type of gift card for cash?
A: Most major retailer gift cards are eligible for sale. However, platforms typically do not accept store credit, promotional cards, or gift cards with expiration dates. Prepaid cards (Visa, Mastercard, Amex) can sometimes be sold on specific platforms like Prepaid2Cash, but often at lower rates.
Q: How much cash will I get for my gift card?
A: The amount you receive depends on the platform, the retailer, and the current demand for that particular gift card. Expect to receive between 70% to 92% of the card’s face value, although rates can vary. Popular retailers generally command higher payout percentages.
Q: How quickly will I get paid after selling my gift card?
A: Payment speeds vary by platform. CardCash and ClipKard often process payments within 1-2 business days after approval. Marketplaces like Raise may take longer as you need to wait for a buyer to purchase your listing.
Q: Are there any fees associated with selling gift cards?
A: Yes, most platforms charge fees for their services. Raise (GCX) charges a 15% fee. Other platforms may have varying fee structures, which are usually factored into the offer price you receive.
Q: Is it safe to sell gift cards online?
A: Selling gift cards through reputable platforms like CardCash, Raise, and ClipKard is generally safe. However, always exercise caution, research the platform, and be wary of any offers that seem too good to be true. Ensure you are using secure websites (HTTPS) when entering your gift card information.
Conclusion: Maximize the Value of Your Gift Cards
Selling gift cards for money is a practical and efficient way to convert unwanted gifts into usable cash. By utilizing online marketplaces, comparing offers, and following best practices, you can unlock the value of your gift cards and put that money towards your financial goals. Whether you choose to sell your unwanted gift cards or buy discounted ones for stores you frequent, understanding the gift card marketplace can be a smart financial move.
