How to Turn Unused Gift Cards into Spendable Money
Are you one of the many individuals who have accumulated unused gift cards over the years? If so, you’re not alone. According to recent statistics, billions of dollars in gift card value go unredeemed each year. However, there is a solution. Many stores buy gift cards, providing an opportunity to turn unwanted cards into spendable money. In this article, we’ll explore the options for selling gift cards and provide tips for getting the best value.
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The process of selling gift cards is relatively straightforward. Various retailers, online marketplaces, and gift card exchange kiosks buy gift cards, offering a convenient way to convert unwanted cards into cash. Some popular retailers that buy gift cards include Raise, Cardpool, and GiftCardGranny. These websites allow individuals to sell their gift cards for a percentage of the card’s value, usually ranging from 80% to 90%.
When searching for stores that buy gift cards, it’s essential to consider the types of cards they accept. Some retailers may only purchase specific types of gift cards, such as those from popular restaurants or retail stores. Additionally, the payment methods used by these retailers can vary, with some offering direct deposit, PayPal, or check payments.
Before selling your gift card, it’s crucial to understand the fees associated with the process. Some retailers may charge a small fee for selling gift cards, which can range from 1% to 5% of the card’s value. However, this fee is often negligible compared to the value of the gift card.
By selling your unused gift cards, you can turn unwanted cards into spendable money. Whether you’re looking to pay off debt, save for a big purchase, or simply add some extra cash to your wallet, selling gift cards can be a convenient and rewarding solution. In the following sections, we’ll delve deeper into the options for selling gift cards and provide tips for getting the best value.
Popular Retailers that Buy Gift Cards
Several popular retailers specialize in buying gift cards, offering a convenient way to turn unwanted cards into cash. Raise, Cardpool, and GiftCardGranny are among the most well-known retailers that buy gift cards. These websites allow individuals to sell their gift cards for a percentage of the card’s value, usually ranging from 80% to 90%.
Raise is one of the largest gift card marketplaces, with over 4,000 brands available. The website allows users to list their gift cards for sale, and Raise handles the transaction process. Cardpool, another popular option, offers a similar service, with a focus on providing competitive prices for gift cards. GiftCardGranny, a website that aggregates gift card prices from various retailers, also offers a gift card buying service.
When using these retailers, it’s essential to understand their gift card buying process. Typically, users create an account, list their gift card for sale, and wait for a buyer to purchase the card. The retailer then handles the transaction, providing the seller with payment via direct deposit, PayPal, or check. These retailers often have a wide range of gift cards available for purchase, making them a great option for those looking to buy or sell gift cards.
Some retailers may have specific requirements or restrictions for buying gift cards, such as minimum or maximum purchase amounts. Additionally, fees may be associated with selling gift cards through these retailers, ranging from 1% to 5% of the card’s value. However, these fees are often negligible compared to the value of the gift card.
By using popular retailers that buy gift cards, individuals can easily turn their unwanted cards into cash. Whether you’re looking to pay off debt, save for a big purchase, or simply add some extra cash to your wallet, selling gift cards through these retailers can be a convenient and rewarding solution.
Specialty Stores that Accept Gift Cards
In addition to popular retailers that buy gift cards, some specialty stores also accept gift cards as payment. These stores may offer more competitive rates for certain types of gift cards, making them a great option for individuals looking to sell their unwanted cards.
Grocery stores, such as Kroger and Safeway, often accept gift cards as payment for groceries and other household items. Some grocery stores may also offer gift card exchange programs, allowing customers to trade in their unwanted gift cards for store credit or cash.
Pharmacies, like CVS and Walgreens, also accept gift cards as payment for prescriptions, health and beauty products, and other items. Some pharmacies may offer gift card exchange programs or buy back gift cards from customers.
Electronics retailers, such as Best Buy and GameStop, often accept gift cards as payment for electronics, games, and other products. These retailers may also offer gift card exchange programs or buy back gift cards from customers.
When selling gift cards to specialty stores, it’s essential to understand their gift card buying process and any fees associated with the transaction. Some stores may offer more competitive rates for certain types of gift cards, so it’s crucial to compare prices and shop around to get the best deal.
Specialty stores that accept gift cards can provide a convenient way to turn unwanted cards into cash or store credit. By exploring these options, individuals can get the most value out of their gift cards and make the most of their shopping experience.
Online Marketplaces for Buying and Selling Gift Cards
Online marketplaces have become a popular platform for buying and selling gift cards. Websites like eBay, Craigslist, and Facebook Marketplace offer a wide range of gift cards from various retailers, making it easy to find a buyer or seller.
eBay is one of the largest online marketplaces, with a dedicated section for buying and selling gift cards. Users can list their gift cards for sale, and eBay handles the transaction process. Craigslist, another popular online marketplace, allows users to buy and sell gift cards locally. Facebook Marketplace also offers a gift card buying and selling feature, allowing users to connect with others in their area.
When using online marketplaces to buy or sell gift cards, it’s essential to be cautious of potential scams. Be sure to read reviews and check the seller’s ratings before making a purchase. Additionally, never send payment or gift cards to someone you don’t know, and always use a secure payment method.
Some tips for safe transactions on online marketplaces include:
- Use a secure payment method, such as PayPal or a credit card.
- Read reviews and check the seller’s ratings before making a purchase.
- Never send payment or gift cards to someone you don’t know.
- Be cautious of deals that seem too good to be true.
By following these tips and using online marketplaces responsibly, individuals can safely buy and sell gift cards and turn their unwanted cards into cash.
Gift Card Exchange Kiosks
Gift card exchange kiosks, like Coinstar, are another option for selling gift cards. These kiosks are typically located in retail stores and allow individuals to exchange their gift cards for cash or other forms of payment.
Coinstar is one of the most well-known gift card exchange kiosks. To use Coinstar, simply insert your gift card into the kiosk, select the type of payment you want to receive, and follow the prompts. The kiosk will then dispense cash or provide a voucher for the gift card’s value.
Gift card exchange kiosks like Coinstar offer several benefits, including convenience and ease of use. They are often located in retail stores, making it easy to find one near you. Additionally, these kiosks typically offer competitive rates for gift cards, making them a good option for individuals looking to sell their unwanted cards.
However, there are also some limitations to using gift card exchange kiosks. For example, these kiosks may not accept all types of gift cards, and the rates offered may not be as competitive as those offered by other buyers. Additionally, some gift card exchange kiosks may charge fees for their services, which can eat into the value of your gift card.
When using a gift card exchange kiosk, it’s essential to understand the fees and rates associated with the service. Be sure to read the terms and conditions before using the kiosk, and compare the rates offered to those of other buyers to ensure you’re getting the best deal.
What to Expect When Selling Your Gift Card
When selling a gift card, there are several things to expect. First, you will need to provide some basic information about the gift card, such as the card’s value, the retailer it was purchased from, and the card’s expiration date. This information will help the buyer determine the card’s value and ensure that it is legitimate.
Next, you will need to decide which type of payment method you prefer. Some buyers may offer cash, while others may offer store credit or other forms of payment. Be sure to understand the payment terms before agreeing to sell your gift card.
It’s also important to understand the fees associated with selling gift cards. Some buyers may charge a small fee for their services, which can range from 1% to 5% of the card’s value. Be sure to factor these fees into your decision when choosing a buyer.
In addition to fees, you should also be aware of the types of gift cards that are accepted by each buyer. Some buyers may only accept certain types of gift cards, such as those from popular retailers or restaurants. Be sure to check the buyer’s website or contact their customer service to confirm which types of gift cards they accept.
Finally, be sure to read reviews and check the buyer’s ratings before selling your gift card. This will help you ensure that you are working with a reputable buyer and that your transaction will be smooth and secure.
By understanding what to expect when selling a gift card, you can make an informed decision and get the best value for your unwanted card.
Tips for Getting the Best Value for Your Gift Card
To get the best value for your gift card, it’s essential to do some research and compare prices. Different stores that buy gift cards offer varying rates, so it’s crucial to find the one that gives you the most cash. Here are some tips to help you maximize your gift card’s value:
Compare prices: Look for websites that allow you to compare prices for your gift card across multiple stores. This will give you an idea of which store is offering the best rate. You can also use online tools that provide price comparisons for gift cards.
Use price comparison tools: Websites like GiftCardGranny or Raise provide price comparison tools that help you find the best deal for your gift card. These tools allow you to enter your gift card details and receive offers from multiple stores.
Consider the fees: Some stores that buy gift cards charge fees, which can eat into your profit. Look for stores that don’t charge fees or have low fees. For example, Raise doesn’t charge any fees for selling gift cards.
Check the store’s reputation: Make sure to research the store’s reputation before selling your gift card. Look for reviews and ratings from other customers to ensure you’re dealing with a legitimate business.
Be aware of the store’s gift card acceptance policy: Some stores may not accept certain types of gift cards or may have specific requirements for the gift card’s balance or expiration date. Make sure to check the store’s policy before attempting to sell your gift card.
Don’t wait too long: Gift cards can expire or lose value over time, so it’s essential to sell them as soon as possible. If you’re not planning to use your gift card, consider selling it to a store that buys gift cards to get the most value.
By following these tips, you can get the best value for your gift card and turn it into spendable cash. Remember to always research and compare prices to find the best deal. If you’re wondering what store buys gift cards, consider checking out popular retailers like Raise, Cardpool, or GiftCardGranny.
Conclusion: Turning Your Unused Gift Cards into Cash
In conclusion, selling unused gift cards for cash is a great way to turn unwanted presents into spendable money. With various options available, individuals can choose the best method that suits their needs. Whether it’s through popular retailers like Raise, Cardpool, or GiftCardGranny, specialty stores, online marketplaces, or gift card exchange kiosks, there are numerous ways to sell gift cards.
When searching for what store buys gift cards, consider the benefits and limitations of each option. Some stores may offer more competitive rates for certain types of gift cards, while others may have fees associated with selling. By comparing prices, using price comparison tools, and considering the fees, individuals can get the best value for their gift cards.
It’s essential to be aware of potential scams when selling gift cards online and to take necessary precautions to ensure safe transactions. Additionally, understanding the process of selling a gift card, including the information needed and payment methods used, can help individuals navigate the process smoothly.
By exploring the options outlined in this article, individuals can turn their unused gift cards into cash and make the most of their unwanted presents. Whether you’re looking to declutter your wallet or simply want to earn some extra money, selling gift cards is a convenient and hassle-free way to do so.
So, next time you’re wondering what store buys gift cards, consider the options available and take the first step towards turning your unused gift cards into spendable money. With a little research and effort, you can breathe new life into your unwanted gift cards and enjoy the benefits of having extra cash on hand.