Gift Card Redemption for Cash: Turn Unused Cards into Money

You've got a stash of unused gift cards collecting dust, and you're wondering how to turn them into cash. According to the National Retail Federation, the average person has around $160 in unused gift cards.

You can sell your unused gift cards online through websites like Raise or Cardpool. These platforms connect buyers with sellers, and you can get up to 92% of the card's value.

Choosing the right gift card cashing 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.

Some gift cards can be easily redeemed for cash, while others may require more effort or sacrifice a significant portion of their value. Each method has varying degrees of convenience, payout, and effort involved.

You can sell unwanted gift cards online through marketplaces, but be prepared to sacrifice a portion of their value in exchange for cash. The payout may be lower than the card's original value, but it's a quick and easy way to get some cash.

Gift cards can also be exchanged for cash at some retail stores, but this option is not available for all types of gift cards. The payout may be higher than selling online, but it's still lower than the card's original value.

In some cases, you can use the value of a gift card to make a purchase and then ask for cash back, but this method may not be suitable for all types of gift cards. Be sure to check the store's policies and the card's terms before attempting this method.

You can sell or exchange gift cards online through various platforms, such as 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, depending on the retailer and the demand for that particular brand.

Gift cards for popular retailers like Amazon or Walmart tend to fetch higher returns, while those for niche stores may yield lower offers.

You can also trade a card for another one on some platforms, giving you greater control over the outcome.

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.

GCX, a subsidiary of Raise, operates as a marketplace where you'll be able to choose how heavily you want to discount your card, but it imposes a 15% fee.

CardCash, on the other hand, will remove the hassle of selling the card yourself and pay you up to 92% of the cash value of your cards.

The return fluctuates greatly from one retailer to the next, but CardCash is pretty indiscriminate as to which gift cards it will buy from you.

It follows standard practices, such as refusing to sell gift cards with expiration dates or promotional cards that can only be spent in certain areas.

CardCash also lets you trade in your gift cards for select other gift cards and receive up to 11% more value than if you cashed out.

Popular trade-in options are Amazon, Airbnb, and Chewy, which can be almost as good as cash, especially if you trade your current gift card for an Amazon gift card.