5 Ways to Convert Gift Cards to Cash

gift-cards
credit-cnet.com

Sometimes gift cards are the best gifts and other times not so much. Fear not, you can convert those gift cards into something you can actually use; cash or perhaps something as good as cash – an Amazon gift card. Here are options on how to convert your unwanted gift cards shared by Ben’s Bargains.

 Turn your Visa gift card into an Amazon gift card.

Particularly useful when you have a few Visa / Mastercard / AMEX / Discover gift cards with a few bucks left on each, converting these will let you bank all the balances on your Amazon account.

  1. Log into your Amazon account, go to your account page and add your gift card as a payment option.
  2. Check your remaining balance on the card (either online or via phone), then go to an Amazon eGift card page. Set the remaining amount as the eGift card’s value and put your own email address in as the recipient.
  3. Go back to your Account page, click Gift Cards and apply the gift card code (received via email) to your balance.

Sell your gift card on a third party gift card site.

There are a number of these types of sites, CardPool, CardCash, Raise, etc… Ultimately, you are going to take a percentage hit when selling the card, but you will have something more valuable if you weren’t planning on using the card in the first place.

Here are some examples with a $50 Best Buy card (as of 12/27/18):

  • Cardpool: Offers a check for $44.25 or an Amazon gift card for $46.91. (You also have the option of selling the gift card on the marketplace for a slightly higher rate, but it will take longer).
  • CardCash: Offers a check / direct deposit / Paypal for $43.50 or an Amazon gift card for $45.67.
  • Raise: Offers payout via check / direct deposit / Paypal for $41.83. (This is paid out when the card sells on the site. It will sell faster based on your price, but your payout could drop.)

Use a Gift Card Exchange Forum

The most popular one of these is probably the sub-Reddit, r/giftcardexchange/. You do have to educate yourself on rules of trading and make sure you are trading with a legit person.

 Donate your Gift Cards

Some charities will allow you to donate gift cards, regardless of the size of the balance. You can claim it as a charitable contribution at tax time, assuming you itemize.  Check with your local charity to see if this is an option.

Sell your gift card using Craigslist / Facebook Groups

While meeting in-person to sell a gift card isn’t the easiest option, you can typically get a good return. Make sure you meet in a public place and have access to Wi-Fi / LTE service to verify the balance of the card for them. It’s an easy way to make quick cash (without getting hit up by online fees) or barter trade for another item.

Advertisement

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here