The other day, I decided to clean out my desk and inside one of the drawers, I found a pile of unused gift cards.
As I thumbed through these cards, I realized that most of them were to stores or restaurants I didn’t really have any interest in visiting — and that I would much rather exchange them for cash.
Not only is it possible to turn your gift cards into cash, it’s rather easy.
Here are a few ways you can make money off of unwanted gift cards:
Once you’ve officially made the decision to part ways with your gift card, there are plenty of official websites that can help you sell them to others.
Companies like Card Cash and Card Pool let you sell gift cards for up to 92 percent cash back. While you won’t walk away with 100 percent of the value of the card, you will be sent cash that you can then use to buy whatever you’d like.
These sites also ensure that the gift card to cash transactions stay safe with money-back guarantees and fraud protection.
While selling a giftcard to someone on social media or via an online classified may seem like a more lucrative option, you may run into security issues.
You also have the option to swap your gift cards for cards to other stores.
Card Cash, for instance, lets you trade in your gift cards for the same value or up to 13.5 percent more. Using this method, not only are you making money on a gift card you otherwise wouldn’t use, but you get a couple of extra dollars to spend at a store or restaurant where you’d actually like to treat yourself.
Some retail stores, like Target, also have trade a program where you can bring in gift cards from a variety of stores and trade them in for a Target gift card.
Find a cash for gift card kiosk
If you’re looking to get a fast payout for your gift cards, you can bring your cards to kiosks that offer instant money in exchange for the cards.
Here’s a resource to help you find the nearest kiosk location, which are usually located inside of grocery, department or check-cashing stores.
After inserting your gift card into the kiosk machine, you’ll be notified how much money it is willing to offer you for the exchange. While you won’t always be offered the full amount of cash that the gift card is worth, it’s a great way to unload the cards and get money fast.
Chances are, if you don’t use a gift card within the first few months of it being given to you, you simply won’t use it all.
Rather than collect a stash of gift cards that are unwanted, find the method that works for you and your needs and turn the card into cash you will actually use.
- Gift card giving guide: How to use your credit card rewards
- How to score cash, perks in the new credit card rewards loyalty game
- My husband and I used a balance transfer card to pay off $14,000 in debt in 11 months