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If you've got unwanted gift cards collecting dust, you're not alone. According to a study, 1 in 5 gift cards goes unused.
You can sell your unwanted gift cards for cash through various online platforms, such as Raise and Cardpool. These websites allow you to list your gift cards for sale and receive cash payments in exchange.
Some gift cards hold more value than others, with certain retailers like Amazon and Target offering higher resale prices. This is because their gift cards are in high demand among consumers.
You can also check the original purchase price of the gift card to determine its worth.
Selling Methods
You can sell your gift cards for cash using various methods, each with its own level of convenience and payout.
The FlipEx App is an easy way to cash out Visa gift cards, allowing you to trade them for cash instantly at the best possible rates.
To sell a Visa gift card on FlipEx, create an account, select your card type and enter details, and then enter the gift card amount.
You can sell your Visa gift card on FlipEx by following these simple steps: Create Your FlipEx Account, Select Your Card Type & Enter Details, Enter the gift card amount, and Review details & Initiate Sale.
If you prefer to go in person, you can sell your used gift card at a local Check Into Cash store, with over 300 locations in the US.
Check Into Cash stores will exchange your gift cards for cash, making it easy to get cash immediately for your gift cards.
Here's a comparison of the two methods:
Choose the method that best fits your needs, considering the type of gift card, your need for cash, and how much value you're willing to sacrifice for liquidity.
Websites and Apps
If you're looking to sell your gift cards for cash, there are several websites and apps you can use. Raise and CardCash are great options for selling gift cards from popular retailers like Target and Starbucks. They make the process easy and convenient, and you can get paid via PayPal.
Gameflip is a website specifically for gamers, where you can sell gift cards from gaming platforms like Steam and PSN. You can list your gift card yourself and choose the price, and they'll take a small cut once it sells.
ClipKard is another popular website that buys used gift cards. You can enter the gift card information to get an offer, and if you're happy with it, you can accept and ship the gift card off to get paid. You'll also earn rewards points that you can use for a discount on future gift card purchases.
FlipEx is an app that allows you to trade your Visa gift cards for cash instantly. You can enter the gift card details online for verification, input your preferred amount, and FlipEx handles the rest. The process is straightforward and you'll receive your cash in your FlipEx Wallet.
Here are some popular websites and apps for selling gift cards:
- Raise and CardCash (payout via PayPal)
- Gameflip (payout via Wise, Payoneer, Skrill, or Bitcoin)
- ClipKard (payout via PayPal or check)
- FlipEx (payout via bank account or cryptocurrency)
Keep in mind that some websites may charge a transaction fee, and the payout time can range from a few days to a week, depending on the platform's policies.
Best Practices
In card cash sell, it's essential to have a clear understanding of your target audience. This involves knowing their financial habits and cash flow patterns.
To effectively cater to your audience, consider offering flexible payment options, such as installment plans or layaway. This allows customers to make purchases that fit their budget.
Be mindful of your pricing strategy, as it can significantly impact customer behavior. For instance, offering discounts or promotions can incentivize customers to make purchases with cash.
Best Ways
You can sell your gift cards locally, such as on Facebook Marketplace, where you can find a buyer quickly and easily.
To get the best deal, check out brick-and-mortar stores like Check Into Cash, which has over 300 locations. Bring your government-issued ID and your gift card to get a free quote and potentially walk out with cash immediately.
Raise and CardCash are online options that buy gift cards and payout via PayPal, making it easy to get cash for your unwanted gift cards.
Additional reading: How to Check My Cash App Card Balance without App
Return
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Return can be a hassle, but some platforms make it relatively easy. If you're not happy with the offer you get, you can choose to trade your gift card for a gift card from a different retailer.
CardCash allows you to trade your gift card, though you won't get 100% of the value. You'll get a higher value than selling it straight out.
Some platforms offer instant offers, making the process quick and easy. CardCash's quote tool is one example of this, providing instant offers for your gift card.
Here are some cashout options to consider:
CardSell also offers a convenient cashout option, paying you within 48 hours via PayPal.
Fees and Restrictions
A balance transfer fee can range from 3% to 5% of each transfer, with a minimum of $5, depending on when the transfer is made.
Be aware that some gift cards may come with expiration dates or geographic and merchant-specific limitations that can affect their value or resale potential.
Intriguing read: Citi Double Cash Card Balance Transfer
Check Expiration and Restrictions
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Some gift cards come with expiration dates, which can reduce their value or make them harder to sell or trade.
Expiration dates can be a major factor in determining a gift card's worth.
Check the gift card for any expiration dates or other restrictions before trying to sell or trade it.
Geographic and merchant-specific limitations can also affect a gift card's usability or resale potential.
You can find over 300 local Check Into Cash stores in the U.S. to exchange your gift cards for cash.
Bring your unused gift cards to a Check Into Cash store and they will exchange them for cash.
Check this out: Where Can I Cash Out a Gift Card
Balance Transfer Fee
The balance transfer fee is a crucial aspect to understand when considering a balance transfer. It can range from 3% to 5% of each transfer, with a minimum of $5.
If you complete a balance transfer within 4 months of opening your account, you'll be charged an intro balance transfer fee of 3% of each transfer. This fee is still subject to a $5 minimum.
After the initial 4-month period, the balance transfer fee increases to 5% of each transfer, still with a $5 minimum. This is something to keep in mind when planning your balance transfers.
Worth a look: Citi Custom Cash Card Annual Fee
Foreign Transaction Fee
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Credit card companies charge a foreign transaction fee, typically ranging from 1-3% of the transaction amount, to cover the costs of processing international transactions.
This fee can add up quickly, especially for frequent travelers or those who make online purchases from international merchants.
Some credit cards, however, offer no foreign transaction fee, making them a great option for international travelers.
For example, the Chase Sapphire Preferred credit card does not charge a foreign transaction fee.
Discover more: Wells Fargo Active Cash Card Cash Advance Fee
Our Expert Take
The Citi Double Cash Card stands out for its no-annual-fee cash-back rewards structure. One of the best no-annual-fee cash-back cards, it's a straightforward option for those seeking simplicity. This card's rewards structure is indeed straightforward, making it a great choice for many.
Frequently Asked Questions
Does CardCash pay immediately?
Payment is typically issued within 24-48 hours after we receive your card, not immediately. The time it takes for payment to be issued depends on when we receive your card.
How do I convert my card money to cash?
You can convert your card money to cash through an ATM withdrawal or online transfer to your bank account, but be aware that fees and interest will start accumulating immediately.
Sources
- https://www.cnbc.com/select/how-to-sell-gift-cards-for-cash/
- https://www.forbes.com/sites/truetamplin/2024/10/09/here-are-4-easy-ways-on-how-to-cash-out-a-gift-card/
- https://www.lendup.com/articles/top-10-places-to-sell-gift-cards-for-cash
- https://www.makingsenseofcents.com/2024/03/sell-gift-cards.html
- https://www.flipexapp.com/blog/how-to-sell-visa-gift-card-for-cash-on-flipex
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