Card Cash or Raise: Trading Gift Cards for Cash or Rewards

If you're like me, you've probably accumulated a stash of gift cards over the years from birthdays, holidays, and other special occasions. According to a survey, the average American has around $140 worth of unused gift cards.

Trading in your gift cards for cash or rewards can be a great way to make the most of them. For example, you can use websites like Raise or Cardpool to sell your unwanted gift cards.

In some cases, trading in your gift cards can even be more lucrative than selling them outright. As we'll explore later, some websites offer cash back rewards or other perks that can boost your earnings.

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Trading for cash is a viable option if you need to turn your gift cards into real money. You can trade gift cards for cash through various methods, but each one takes a cut, leaving you with less than the full value of the card.

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There are many ways to trade gift cards, and the best method for you will depend on the type of gift card, your need for cash, and how much value you're willing to sacrifice. Some methods are more convenient than others, but all involve sacrificing some of the card's value.

CardSwap is one option, especially if you live in Canada, where they're based. You send them your gift card details, and they'll send you an offer that's a percentage of the card's total value.

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Trading for cash is a viable option, and there are many ways to do it. You can trade gift cards for cash, but be prepared to get less than the full value of the card.

Typically, the company will take a cut, so you can expect to get less than the full value. It's essential to understand the terms and conditions before making a trade.

Each method of trading gift cards for cash is slightly different, but they all follow the same premise.

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If you're looking to trade your gift card for cash or another gift card, there are several options to consider.

GCX, a subsidiary of Raise, operates as a marketplace where you can sell your gift card directly to buyers. You can choose how much to discount your card, but be aware that GCX imposes a 15% fee.

CardCash is another option that makes trading easier. They'll take care of reselling your gift card and pay you, giving you up to 92% of the cash value.

CardCash also lets you trade in your gift card for select other gift cards and receive up to 11% more value. This is a great way to still get some use out of a forgotten gift card.

CardSwap is a Canadian-based option that sends you an offer based on the total value of your gift card.

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Using kiosks is a convenient way to convert gift cards into cash. You can find kiosks in big-box retailers like Walmart, Target, and major grocery stores.

Many kiosks are actually Coinstar booths, so if you see a Coinstar, you can try your luck. They'll help you trade gift cards for cash.

To use a kiosk, simply insert your gift card, and the machine will assess its balance before providing an instant cash offer. Kiosks usually offer a lower payout, ranging from 50% to 70% of the card's value.

Kiosk offers are often non-negotiable, so be aware of that before you accept. The machines may not accept all types of gift cards, especially those from smaller retailers.

For major brands, kiosks provide a fast and hassle-free way to convert gift cards into cash.

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If you're considering using Raise to buy gift cards, it's essential to understand the difference between 'Cash Back Gift Cards' and 'Discount Gift Cards'. 'Cash Back Gift Cards' are first-hand, brand new gift cards, while 'Discount Gift Cards' are second-hand, pre-owned gift cards.

'Cash Back Gift Cards' offer rewards, but they won't earn cashback through shopping portals. On the other hand, 'Discount Gift Cards' are eligible for cashback through shopping portals, but they come with a risk of being second-hand.

To earn cashback on Raise purchases, you need to buy a 'Discount Gift Card', not a 'Cash Back Gift Card'. This is because the commission Raise takes on 'Discount Gift Cards' allows them to offer cashback through shopping portals.

Here's a quick comparison of the two:

Keep in mind that 'Discount Gift Cards' may come with a lower value due to being second-hand. However, if you want to earn cashback on Raise purchases, this is the way to go.

You probably have gift cards lying around the house that can be converted to cash, so try to create a pile of them as you clean up. This can add up to a surprising amount of money.

It's amazing how much cash you can get from old gift cards. For example, you can turn a pile of them into a decent amount of money.

Don't underestimate the value of small amounts of money, as they can add up quickly.

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You have several options for cashing out gift cards, each with its own pros and cons.

Choosing the right method depends on the type of gift card, your need for cash, and how much value you're willing to sacrifice in exchange for liquidity.

If you're looking for a convenient option, you can sell or exchange gift cards online through platforms like CardCash, Raise, and Gift Card Granny. These platforms connect sellers with buyers looking for discounted gift cards.

You can expect to get between 70% to 92% of the card's face value, depending on the retailer and demand. For example, gift cards for popular retailers like Amazon or Walmart tend to fetch higher returns.

Some platforms also allow you to swap a card for another one, giving you greater control over the outcome.

The Citi Double Cash Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure. Its simplicity is a major advantage for those who want to earn cash back without dealing with complex rules or restrictions.

This card offers 2% cash back on all purchases, with no rotating categories or spending limits to keep track of. That means you can earn cash back on everything, from groceries to gas to streaming services.

The Citi Double Cash Card doesn't have an annual fee, making it a great option for those who want to earn cash back without paying extra. This is especially important for those who don't want to spend money on a card's fees.

With its straightforward rewards structure and no annual fee, the Citi Double Cash Card is a great choice for anyone looking for a hassle-free cash-back card.

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You can trade gift cards for cash through various methods, each with its own level of convenience and payout. Some platforms, like GCX, operate as a marketplace where you set the price, but you'll receive less than the full value of the gift card due to a 15% fee.

You can sell gift cards online through platforms like CardCash, Raise, and Gift Card Granny, which connect sellers with buyers looking for discounted gift cards. These platforms offer different payout rates, ranging from 70% to 92% of the card's face value.

Some platforms, like CardCash, will remove the hassle of selling the card yourself, paying you and taking care of the reselling. CardCash will give you up to 92% of the cash value of your cards, though the return fluctuates greatly from one retailer to the next.

You can also trade in your gift cards for select other gift cards and receive up to 11% more value than if you cashed out, as offered by CardCash. Popular trade-in options include Amazon, Airbnb, and Chewy.

GiftCardBin is another option for selling unwanted gift cards, offering a simple process of getting an offer and getting paid fairly quickly. You can sell your gift card through GiftCardBin, but you'll receive between 60% to 70% of the total value.

Prepaid2Cash aims to stop consumer waste with unused gift cards, sending offers for a variety of gift cards. You can give Prepaid2Cash your card details, wait for an offer, and choose to accept the offer, with the cash in your account within a few days.

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Before you start cashing out your gift card, it's essential to check for any expiration restrictions. Some gift cards may come with expiration dates that reduce their value over time.

Gift cards with geographic limitations can only be used in specific locations, making them less versatile. This can be frustrating if you're planning to use the card outside of that area.

Expiration dates and geographic limitations can also impact the resale potential of your gift card. If the card is near expiration or has limited usage, it may be harder to sell or trade.

Always check the terms and conditions of your gift card before cashing out to get the most out of it.

ClipKard is a convenient option for getting a quick price quote on your unwanted gift cards. They offer a prepaid postage slip to make the mail-in process easy.

If you accept the offer, you simply mail in the gift card, and ClipKard will take care of the rest.

ClipKard also provides points for buying or selling, which you can use for future gift card purchases.

Having multiple card options can be a game-changer in the card cash or raise dilemma. You can choose from a Gold Card, which offers a higher cashback rate of 2% on all purchases, or a Platinum Card, which provides a 1.5% cashback rate on all purchases.

The key difference between these two cards is their cashback rewards. The Gold Card's higher cashback rate can add up quickly, especially if you use it for daily purchases.

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Reloadable gift cards are a convenient option for regular purchases. You can electronically reload funds onto physical gift cards purchased from RaiseRight, available for 125 brands.

For instance, you can save time and card waste by reusing the same gift card for gas, groceries, or daily coffee shop visits. This feature is especially useful if you frequently visit the same places.

You can save your gift cards to your account's "Wallet" and reload them right in the mobile app or on the website to keep track of your balances. This makes it easy to manage your gift cards and avoid running out of funds unexpectedly.

Here are some benefits of reloadable gift cards:

The Wells Fargo Active Cash Card is a solid choice for those looking for a straightforward rewards program. It offers unlimited 2% cash rewards on purchases.

One of the most appealing aspects of this card is the opportunity to earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. This is a great way to get started with the card and earn some real rewards.

The card also comes with a $0 annual fee, which is a major plus. No annual fee means you can keep more of your hard-earned cash.

In addition to the rewards program, the Wells Fargo Active Cash Card offers a 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. This can be a huge help if you need to make a large purchase or transfer some debt.

After the intro period ends, the APR will be 19.24%, 24.24%, or 29.24% Variable APR, depending on your creditworthiness. It's worth noting that these rates are relatively high, so be sure to pay off your balance in full each month.

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The balance transfer fee is also worth mentioning: it's 3% of the amount transferred, with a minimum fee of $5. This can add up quickly, so be sure to factor it into your decision.

Overall, the Wells Fargo Active Cash Card is a great choice for those who want a simple, straightforward rewards program with no annual fee.

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