Sell Unwanted Gift Cards for Cash
For many reasons, gift cards seem to be the perfect option. There is no worry about the wrong size or color. The value is assured and there is no need for a gift receipt because the recipient will be able to pick out the perfect gift. Unfortunately, a gift card from your favorite store, can still turn out to be the wrong gift.
What’s your vegan co-worker going to do with that Steak House gift card she received during the holiday gift exchange? Do you think Uncle Henry, the man who believes vinyl is still the only way to listen to music, will ever use that i-tunes gift card? It's estimated that over 10 billion gift cards go unused each year, and another 23 million languish in the recipient’s wallet or purse for more than a year after they’re received.
Gift cards can be re-gifted, but you have to be careful. With so many occasion specific cards, re-gifting a Happy Birthday gift card to someone as a Christmas gift will look tacky and cheap.
That leaves the option of using the card to buy presents for someone else. While this will save you a little money, it's not really much fun. So how do you put the gift back into an unwanted gift card? Turn it into cash or an Amazon gift card at CardPool.com, the one stop market place for both buying and selling gift cards.
Simply go to the website and select the “Sell Gift Card” link. Choose the merchant who issued the card from the drop down list and enter the cards value. If you're not sure of the value, the drop down menu will provide you with information, such as the phone number or website, where you can verify the card's value.
Once the information has been entered and the value verified click get offer and the amount they will pay will immediately appear. If you accept, print out the free shipping label and drop your card(s) in the mail. Most offers are between 60% and 70% of the card value, but some cards command as much as 90% of the value.
When Card Pool receives your card, they will verify the value and mail a check within 24 hours.
Cards from a limited number of merchants can be redeemed online by entering the codes, but this requires that you place a credit card on file and the offer is reduced by approximately 10%. Mailing the cards brings more cash and you can increase the offer by an additional 5% if you opt for payment in the form of an Amazon gift card instead of a check.
I did a test entering various merchants and card values to see what type of offers I would receive and have include the values below.
Macy’s Gift Card Value: $100
Cash Offer: $84
Amazon Offer: $87.15
Barnes and Noble Gift Card Value:$25
Cash Offer: $20.25
Amazon Offer: $21.26
LL Bean Gift Card Value:$50
Cash Offer: $37.50
Amazon Offer: $39.38
Walmart Gift Card Value:$25
Amazon Offer: $24.15
Big Boy Gift Card Value:$50
Apple Store Gift Card Value:$100
Gap Gift Card Value:$100
Cash Offer: $83.00
Amazon Offer: $87.15
Gap Gift Card Value: $25
Cash Offer: $20.75
Amazon Offer: $21.79
While this service may not be for everyone, it does offer a quick and easy way to get cash for something you will never use.
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