Whether it’s a birthday, graduation or holiday, it’s likely that you’ll get a stack of gift cards for any celebration. Also likely: You’ll end up with a few you can’t Continue Reading
Whether it’s a birthday, graduation or holiday, it’s likely that you’ll get a stack of gift cards for any celebration. Also likely: You’ll end up with a few you can’t use or don’t want.
Maybe your boss gave you a Starbucks gift card, but you aren’t a coffee drinker. Or your Aunt Rita gave you a generous $75 for a steakhouse, but you’re a vegetarian.
There is no reason for this well-intentioned gift to go to waste. Instead of letting them languish in a junk drawer or unopened email somewhere, sell those gift cards for cash.
5 Best Places to Sell Gift Cards for Cash and Discounts
Ready to start selling gift cards? Start with these five sites.
Founded in 2009, CardCash is a no-frills marketplace to buy and sell gift cards. It accepts cards from all types from popular department stores, restaurants, grocers and more. While the website states that you can earn up to 92% of a gift card’s value, each card is given a unique quote that could be lower. CardCash pays you directly if your card is accepted.
Use CardCash’s quote tool to see how much cash your gift card is worth and to find out if you need to physically mail it in. You also have the option to swap the gift card for one at another store, possibly exceeding the value of your current gift card.
Get started: www.cardcash.com
According to its website, ClipKard accepts physical gift cards from more than 100 retailers. Fast food restaurants and department stores are especially popular.
ClipKard’s quote tool will let you know if your card is currently being accepted and, if so, how much it’s worth in cash. If you like the quote, you can ship your gift card to ClipKard using the prepaid USPS shipping label provided to you. If you’re in a rush, you can choose to upgrade to priority shipping, and the price will be deducted from your payout.
Get started: www.clipkard.com
Gameflip is a unique way to get rid of your unwanted digital gift cards and other items. The e-commerce site is a blend of eBay and Upwork for gamers. When selling gift cards, like any other product or service on the site, you’ll have to make a listing, which requires you to first make a Gameflip profile.
You can sell any unused prepaid and non-reloadable gift card. Popular gift cards include Steam, PlayStation, Xbox, iTunes, Google Play and more. With Gameflip, you have full control over the price, though it’s recommended you list your card at a discount of 2% to 15% of its value.
When someone buys your gift card, Gameflip transfers the funds into your Gameflip wallet, which you can withdraw from using Wise, Payoneer, Skrill or Bitcoin. (PayPal is no longer accepted.) Gameflip takes an 8% cut of all listings and a further 2% cut of digital-only listings. Each wallet withdrawal method has its own associated fees.
Get started: www.gameflip.com
As with other gift card exchange sites, you can get a quote from GiftCash before you choose to sell it. However, GiftCash does not allow gift-card swapping.
All gift cards must have a value of at least $25. Some brands require a higher minimum value, such as $100 for Air Canada, Apple, iTunes and Petco.
Get started: www.giftcash.com
Raise is a mobile payment app and e-commerce platform launched in 2013. Among many things, Raise allows you to sell your unwanted gift cards on its marketplace. That means you’ll need to create a Raise account and a listing for your gift card.
As with any product, the more demand, the more you can ask for it. Gift cards for major retailers like Walmart, Target and Best Buy tend to sell on the marketplace for about 95% of their value.
You also maintain control over your listing. If your card doesn’t sell in the first couple of days, you can always adjust the price to attract more buyers. Or you can unlist it if you change your mind. Once it sells, Raise charges a 15% seller fee, and for physical cards, it charges an additional $2.75 or 1% fee for shipping — whichever is greater.
If you lost track, that means the maximum you can earn on a digital gift card is 85% of its value, if it sells for 100% of its value.
Get started: www.raise.com
To help you determine the best place to sell your unwanted gift cards, we’ve compared several price estimates from popular stores in spring 2022. Here’s how the five gift-card sites stack up.
How Much Cash Your Gift Cards Could Earn
*Note: Estimated exchange prices for Gameflip and Raise were based on the rates of digital gift cards currently listed and selling on their marketplaces, minus the applicable seller fees (10% and 15% respectively).
Tips to Sell Gift Cards Online
There are plenty of websites to sell your gift cards, and each one is a little different. Some will let users bid on your gift card, while others will purchase it from you and then sell it themselves.
Here’s what to keep in mind as you find a buyer for that unwanted present.
Consider Ways to Get Paid
Depending on the service you choose, when you sell a gift card, you can receive a check in the mail, a PayPal or other digital payment, or a more useful gift card.
Payment apps might be quick, but keep those pesky transaction fees in mind if you want to maximize your payout. Checks may take a little longer, but they’re as good as cold, hard cash. And depending on your spending habits, another gift card might be the best choice, as the conversion rate is going to be the highest.
Each selection has its own perks, so choose whichever best fits your needs.
Don’t Sell Gift Cards on eBay
EBay has always been a popular place for buying and selling things online — but it might be the worst way to sell gift cards.
First, an eBay buyer isn’t likely to buy your gift card for more than 80% to 90% of its value. For a $100 gift card, you can count on a loss of between $10 and $20 right off the bat.
On top of that, you may be responsible for eBay’s insertion fees, a final value fee and a performance fee if your eBay seller account isn’t in good shape. These fees eat further into your earnings.
You may be thinking, hey, don’t Raise and Gameflip also have seller fees? They do. But these marketplaces specialize in selling gift cards, so the base value of your gift card is likely to be higher on Raise or Gameflip than on eBay. Also with eBay, there’s no built-in way to verify your gift card’s code or balance — making the selling and shipment process much more of a hassle.
In short, stick with one of the five gift-card selling websites above to get the most money for that ol’ Applebee’s gift card that’s nearly fused together with your wallet.
Frequently Asked Questions (FAQs) About Selling Gift Cards Online
Here are our answers to some common questions about selling gift cards online.
You can exchange gift cards for cash easily by selling the unused card directly to a gift card site like CardCash, CardKlip or GiftCash. They will buy the card from you directly. Or you could list your gift card on marketplaces like Gameflip or Raise, where people can bid on your card and buy it from you.
When you sell your gift cards online, it’s possible to get a quote immediately. That is, you can easily and quickly check how much your gift card is worth. But the entire process of selling the gift card online will take much longer, especially if you have to mail a physical card.
One option for faster cash is through GiftCardBin, which partners with more than 600 businesses nationwide to buy gift cards — in person. Use its store locator tool to see if a partner is nearby. Then you can sell your gift cards for fast cash. However, you should expect a quote much lower than the online exchanges.
You can sell gift cards for cash online and in person. Selling your gift card in person is the fastest way to get cash, but that doesn’t mean it’s the most lucrative. GiftCardBin has hundreds of partners around the U.S. that offer cash for gift cards. The slower and more lucrative way to sell gift cards is online, and you can earn up to 95% of the gift card’s value in cash by using one of the gift card exchanges mentioned above.
Coinstar discontinued its gift-card-buying services at all Coinstar terminals. However, if you’re using Coinstar to count your change, you can maximize your payout by choosing to accept payment by gift card. This option allows you to skirt the fees associated with cash payout.
Adam Hardy is a former staff writer for The Penny Hoarder. Writer Dana Miranda contributed to this report.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.