Gift Card Exchange

Gift Card Exchange Time!

This post should start with a disclaimer:  Nobody is paying me to post this information.  This entire blog is unsponsored.  The information offered here is all my own opinion and experience.

Now that the holiday season is over it's time to sort through those gift cards you received.  If you're like me there may be one or two that you already know you're not going to use.  Don't worry about it - I'm here to help.

Yes you can trade those gift cards for cash and it's fast and easy to do.  This post is offered to you as a guide on how best to ditch those unwanted, unusable gift cards.

First Things First

What are you willing to give up?
You can ditch the old gift cards but make no mistake about it you're giving something up!  You'll sacrifice time or money or convenience.

The Sacrifice:
Time:  Getting the most money for your gift cards take a little time.  So say you have a $100 gift card.  You can sell that card for $97.00 but it's going to take you a week or more to complete the transaction.

Money:  You can have cash in hand very quickly but it'll cost you.  With certain vendors you can trade a $100 for $60 cash on the spot.

Convenience:  Some card exchanges are fairly quick (within 24 hours) and offer a descent trade in value, but you're limited on what you get in return.  For example, a $100 Target gift card traded in at Walmart will get you $96.60 in Walmart store credit.  That's a GREAT and easy outcome but only if you want to shop at Walmart or Sam's Club.

Ways to Trade

Trade Website: Sites like Card Hub, Card Cash, Card Pool and Gift Card Granny (to name a few) allow users to buy and sell cards.  Use these sites to purchase cards at a discount or sell your unwanted cards.

Pro:  This method is relatively easy

Con:  You'll need to wait for your card to sell.  You may need to  mail in the card and wait for a check. 

Payment Method:  Check in the mail.

eBay:  Before this year I used to sell my cards on ebay.  I already have an ebay account so getting started was super easy for me.  Ebay typically offers a good value for the cards (I'd commonly get $95-$97 for a $100 card).  

Pro: Easy if you already have an eBay account.  This method works best for popular cards.  You can sell a card in any amount. 

Cons: If you have a gift card from a smaller store your card may take longer to sell or you might not get as good of a return.  Since you are paid through paypal the payment method could be a pro or a con.  You will incur fees from both paypal and ebay.

Payment Method:  Paypal   

CoinStar:  This method was new to me.  I tried it for the first time this year and it's GREAT but there are significant downsides!  Use the coinstar website to find the special CoinStar Gift Card Exchange machine near you.  You CAN NOT exchange cards at the regular coin star machine.  Card Exchange machines are yellow (the regular machines are green).  

Pro: This is the fastest, easiest process BY FAR!  You receive cash on the spot.

Cons: Very poor return.  For a $100 gift card I received only $60.  There is a $20 minimum on cards. You need to have a valid driver's license or state ID plus a credit card.

Payment Method:  Cash 

CoinStar Gift Card Machine

Walmart Card Cash:  I used the Walmart Card Cash system for the first time this year and I liked the process A LOT! 

Card Cash is a card trade website that has partnered with Walmart.  You go online and enter your gift card information to receive a quote.  If you accept the quote you enter the gift card number and gift card PIN.  Once processed, you receive an e-Gift Card for the store.  DO NOT use the regular Card Cash site for Walmart/United trades.  Here is the link to the site for WalMart exchanges.

I had a gift card from last year with $9.89 left on it.  I was able to trade that card in for $8.62.

My Statement from WalMart/CardCash

Pros: Fast, easy, widely available.  Partial gift cards are fine.

Cons: The Walmart program is only available online and you have to have email to receive the gift card.  

Payment Method: Store credit 

   

Pro Tips: 
Shop Around-  Smart shoppers know that it pays to shop around.  Visit lots of card exchange websites and see who will give you the greatest return on your gift cards.

Be Smart- You'll need to enter the card vendor (Target, Starbucks, etc) and card value to get a quote  for your cards.  NEVER disclose the card number and PIN unless you're ready to sell the card.  Be careful of fraudsters!  The Card Number and PIN are all the information anybody needs to swipe the value on your cards.  Keep that information safe!

READ THE FINE PRINT!- Every card trade site has lots of fine print.  READ IT!  You don't want to lose part or all of your cards value  because you didn't read careful.

Check your Junk Mail - My Walmart eCard certificate came in to my junk mail folder.  Make sure you check there if you're waiting on information from one of these companies!

Good luck and Happy Trading!

This post is courtesy of Mocha Kathy W.

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