How to Get Rid of Unwanted Gift Cards

January 16th, 2012

Did you know that over $100 billion worth of gift cards were purchased in 2011, a new industry high? But what about those people who received gift cards they can’t use or merchant credit cards for returned merchandise? There’s good news: the resale demand for those gift cards has grown even more since we last reviewed gift card exchange sites last year.

There are several options: you can sell the cards to one of these sites for cash, swap the cards for different ones, sell the cards locally or to friends and family, or give them away either as gifts or to charity. To make your job easier, we reviewed many popular gift card exchange sites and selected the most reputable among them. Look here to find phone numbers and Internet links to verify the balance on the gift cards you want to sell.

Popular gift card sites

Compared to the last round, the list is a bit longer. We updated information for two sites that withstood the test of time, removed eBay which we no longer recommend for the reason listed below, and added four new sites to the list.

	Plastic Jungle may well be the best site to sell your unwanted cards, with lots of merchants and an outstanding track record since 2006. You can enter information about the cards you want to sell online and instantly see what they’re worth to cash in, up to 92% of the value. They provide a shipping label so you can send them your cards for free, and within two business days they’ll send you a cashier’s check or Paypal payment. You can add 5% more to that if you choose an Amazon.com gift card by email instead. Contacting their customer support is easy, with quick response through their Facebook and Twitter accounts. All transactions are guaranteed, and they accept either plastic cards or electronic exchanges.
	Gift Card Rescue has been around for four years, providing step-by-step videos to help anyone list and sell their cards online. They pay up to 90% and send a check within two business days of receiving your cards, but they only buy plastic cards from merchants on their list. You can get a 5% higher redemption value if you accept payment in the form of an Amazon.com gift card by email instead.
	Card Pool is a fairly new site that pays up to 92% cash within 24 hours of receiving your cards. The value varies based on the popularity of the cards. They provide free shipping labels, and accept some cards electronically for select merchants as well as merchandise credit cards. Card Pool is owned by a subsidiary of Safeway, Inc. and has collected glowing reviews from television networks and newspapers. Although I consider this a top site, I rank it third because it has no easy search function and does not include cards for movies or accessory stores like hobby, hardware, office supply, health or pet stores.
	Swapagift will buy almost any gift card at 60-70% of its value, so it’s a good site to use for cards that you find hard to sell. In fact, that’s all they do, they don’t sell or exchange anything. They’re unique because you can sell online to their sister web site Giftcards.com, or take your gift cards to the physical address of one of 685 certified partner locations to sell them in person. You can choose payment by check or pick up a MoneyGram at a location near you.
	GiftCard Swapping will make you an offer of 60-75% for cards from a merchant on their preferred list or post your cards for sale to other customers for a flat service fee of $1.99 when they sell. The rate they will pay is not as high as other sites, but they also offer a third option to give you more value for your cards. It’s one of the best sites for swapping your unwanted gift cards for other cards of equal value. However, there’s a $3.99 transaction fee, which would not be worth it unless the cards are high value.
	Monster Gift Card has a unique price match guarantee, they will match or beat any competitor’s advertised price. You have a choice of selling your cards for cash or Monster points that can be used to purchase other cards. Personally, I find the points system confusing and not worth the hassle. Just take the cash.

The last word

We only recommend sites that guarantee the transaction and make the offer before you send them your cards. We consider eBay a poor choice to sell gift cards, because the hassle and potential for fraud is too great. Even if you get a good price, the auction costs and Paypal fees will reduce your net gain. But there’s no need for gift cards to sit unused, if you can safely trade them for cash or cards you really like. Even though you don’t get the full amount back, getting 80-90% in cash from a reputable exchange site is still better than having a card you can’t use.

One more cash option

There is one interesting option to convert prepaid bank gift cards to cash. If you are willing to pay the 2.75% per swipe, you can transfer the value of each card directly to your bank account! Sign up for a free Square Card Reader here and download the free app by visiting squareup.com/app on your iPhone, iPad, or Android device. A headset and GPS are required. The reader will be mailed to you. If you prefer to pick it up at a nearby retail location like RadioShack or BestBuy, it costs $10 and comes with a $10 redemption code.

Entry Filed under: Shopping