How to Swap Gift Cards for Other Gift Cards
Maximize your gift card value. Our guide shows you how to convert unwanted gift cards into preferred options or cash, understanding the process and fees.
Gift card swapping offers a solution for individuals with unwanted gift cards, allowing them to exchange these for cards they can use or for cash. This process helps unlock the value of cards received for stores or services they do not frequent. The primary motivation is to gain flexibility, converting restrictive store credit into more versatile purchasing power.
Where to Swap Gift Cards
Several avenues exist for exchanging gift cards. Online gift card marketplaces serve as dedicated platforms where users can buy, sell, or trade gift cards. These websites, such as CardCash or GCX, connect sellers with buyers and facilitate secure transactions. These platforms often provide instant offers for unwanted cards.
Some major retailers also offer trade-in programs, allowing consumers to exchange gift cards from other stores for store credit or a gift card specific to their brand. Additionally, peer-to-peer options, such as direct exchanges with friends, family, or through online forums, can facilitate swaps. However, these less formal methods carry increased risks, including potential fraud or misrepresentation, making established marketplaces a safer choice.
Preparing Your Gift Card
Before initiating any gift card swap, it is important to ensure the card is ready for exchange. The first step involves accurately verifying the remaining balance on the gift card. This can typically be done by visiting the merchant’s website, calling a toll-free customer service number usually found on the back of the card, or by inquiring in person at a store location. An accurate balance is fundamental, as any discrepancy could complicate or invalidate the swap.
Additionally, it is important to review the gift card’s terms and conditions for any expiration dates or dormancy fees. While federal law stipulates that most gift cards cannot expire for at least five years from the date of activation and limits inactivity fees, older cards or specific types might have different stipulations. Identifying all necessary card details, such as the full card number, PIN, and any security codes, is also important, as these will be required by swapping platforms. The nature of the card, whether physical or an e-gift card, can also influence the swapping process, with e-gift cards often being more straightforward for online transfers.
The Swapping Process
Once a gift card is prepared, the swapping process typically begins by navigating to a “sell gift card” or “trade gift card” section on an online marketplace. You will be prompted to input the gift card information, including the merchant, card number, PIN, and verified balance. This allows the platform to assess the card’s value.
After submitting card details, the platform generates an offer for the gift card. This offer might be a direct cash payout or a trade-in value for a gift card from a different merchant. Review the terms of the offer, considering the proposed value and any associated conditions. If acceptable, proceed to accept it through the platform’s interface.
After acceptance, the platform initiates a verification process to confirm the card’s balance and validity. This verification can take a few minutes to several business days, depending on the platform and card type. Once verification is complete and the transaction finalized, the agreed-upon compensation is disbursed. This compensation can be received through various methods, such as direct deposit, PayPal, or a digital code for a new gift card, with payment processing generally occurring within one to five business days.
Understanding Value and Fees
When swapping gift cards, the amount received is generally less than the card’s face value. Gift cards are typically swapped for a percentage of their original value, often ranging from 70% to 90%. This discount accounts for the convenience and immediate liquidity offered by the service.
Platforms commonly charge fees for their services, including transaction fees or commissions, which typically range from 5% to 15% of the card’s value. These fees are deducted from the payout. Factors influencing offers include the merchant’s popularity, demand for the specific card, and the remaining balance. Comparing offers across different platforms is advisable to maximize the return on an unwanted gift card.