What to Do With Unwanted Gift Cards

Receiving gift cards can be a thoughtful gesture, but often these cards are for retailers or services that do not align with personal preferences or needs. This common scenario can leave individuals with unused balances or cards that might otherwise go to waste. Fortunately, various practical solutions exist for those looking to effectively utilize or divest themselves of unwanted gift cards, ensuring their value is not lost.

Selling Gift Cards

Selling unwanted gift cards through online marketplaces provides a straightforward way to convert them into cash or near-cash value. Several dedicated platforms specialize in gift card resale, such as CardCash, Raise, and GiftCash. Users can list their cards for sale on these sites.

The process typically involves checking the card’s balance and validity, then listing it on the chosen platform. Sellers usually receive a percentage of the card’s face value, which can range from 70% to 90%, depending on the retailer’s popularity and the demand for its gift cards. Payments are commonly disbursed through direct deposit, PayPal, or sometimes even through checks, usually within a few business days after the sale is finalized and the card is verified. To prevent fraud, ensure the platform is reputable by checking reviews and understanding their seller protection policies. Keeping detailed records of the card’s information and the transaction is also beneficial.

Exchanging or Trading Gift Cards

Beyond selling for cash, exchanging or trading unwanted gift cards offers another valuable option for those who prefer a different card. Several online services and platforms facilitate these exchanges, allowing users to trade their gift cards for different ones or for store credit at a more desired retailer. These platforms accept your unwanted card and provide a gift card to a different merchant, usually at a slightly reduced value.

The exchange process requires submitting the unwanted gift card’s details, including its balance and retailer. The platform assesses its value and offers alternative gift cards for trade. While some platforms allow peer-to-peer exchanges, most professional services act as a centralized exchange point, ensuring card authenticity and value. This method converts store-specific value into a more useful retail credit, rather than a direct monetary payout.

Donating or Regifting Gift Cards

For those not interested in monetary returns or direct exchanges, donating or regifting unwanted gift cards provides a charitable or personal alternative. Many charitable organizations, schools, and community centers accept gift card donations. They use these cards to purchase supplies, support programs, or distribute to individuals in need. Donating to a qualified charitable organization may allow for a tax deduction; consult a tax professional for specific eligibility.

Regifting a gift card, when done thoughtfully, can effectively ensure its value is used. When regifting, confirm the card’s balance, check for expiration dates, and ensure it suits the new recipient. Presenting the regifted card in new packaging or with a personalized note makes the gesture more considerate.

Alternative Uses for Gift Cards

Even if a gift card is for a retailer not typically frequented, there are still creative ways to extract its value directly. One practical approach involves using the card to purchase everyday necessities that the specific retailer might offer, even if it’s not their primary business. For example, a department store gift card could be used for household goods, toiletries, or even certain food items if the store has a grocery section. This strategy converts the card’s value into items that would otherwise require cash expenditure.

Another indirect method involves purchasing popular items from the retailer that can be easily resold for cash. This might include electronics, brand-name apparel, or other high-demand goods that hold their value in secondary markets. Alternatively, the card can be used to purchase gifts for others, shifting a future expense to the gift card’s balance. Before using any gift card, check for dormancy fees or expiration dates, as cards may lose value or become invalid over time if unused.