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If you have ever received a gift card you didn’t want, chances are you tossed it into a drawer and forgotten about it.
What if I tell you this unwanted gift doesn’t have to be worthless?
You heard that right! These gift cards can help you make money – you can sell them for cash.
This article will discuss the best ways to turn gift cards into cash and show you who offers the most money for them.
Table of Contents
How To Turn Gift Cards Into Cash Online
Let’s explore how we can turn gift cards into cash online.
CardCash is one of the best options for selling gift cards.
Enter the store name, the gift card number, and the card amount, and CardCash will give you an instant offer.
If you agree to the amount, you have two options.
First, you can mail in your gift card using prepaid postage, but most of the time, you enter the card’s details and the PIN online.
Payment is within 48 hours, and you can get paid with a check, ACH deposit to your bank account, or added to your PayPal balance.
The other option is to trade gift cards.
With this option, you sell CardCash your unwanted card and exchange it for a card to a retailer you want a gift card from.
The amount of money you get from CardCash varies by retailer. You will never get the face value of the card.
In most cases, you will receive 80%-90% of its value.
GiftCash is similar to CardCash, with a few differences.
First, once you agree to sell your gift card, you must wait 5-10 business days before receiving payment.
Second, payment options are ACH to your bank account or cryptocurrency, either Bitcoin or Ethereum.
Finally, there is no option to trade gift cards.
The value you receive for your cards is competitive, with most between 80%-90% and some up to 94%.
Raise is another way to sell a gift card online.
You visit the site and enter your card information and the price you want to sell it for.
Raise will then confirm the gift card is valid, and within 24 hours, your listing will be live.
It takes a 15% commission if your gift card sells, and you receive the remainder.
For disclosure purposes, when setting up your listing, you will see your cut after the commission assuming the card sells for the price listed.
You get paid through PayPal, ACH deposit, or a paper check.
If you opt for a check, there is a $30 fee.
QuickcashMI is similar to the previous options, except that this is a small family business.
Don’t let the idea of a small firm make you skeptical!
Sellers prefer this company to those listed above because it is easier to talk to a real person.
Plus, selling your gift card here is easy.
You can either mail your gift card in or enter the information online.
Once the card is verified, QuickcashMI will send you a check, which you will receive in 3-7 days.
eBay should come as no surprise as you can sell virtually anything and everything, which means you can also sell gift cards!
If you explore the site, you will see a decent amount of unused gift cards for sale, so you know there is a market for them there.
The only downside to eBay is the price you will get.
Many factors will ultimately decide how much you get paid for selling a gift card, including the retailer, the amount of the card, and even your eBay seller rating.
But the one thing that has the most impact is trust.
Between the time you sell your gift card and get paid, the buyer could claim there is no money on the card and open up a dispute.
Historically, eBay sides with the buyer, meaning their payment to you will be refunded. Ultimately, you will have a worthless gift card and no payment!
If you decide to go this route, know that there are eBay fees you will pay, lowering the price you receive for the gift card.
Also, the only payment option is PayPal.
Selling a gift card on Craigslist saves you from the fees of eBay, but it also shrinks your potential customer pool since only people in your local area will be searching.
This can factor in how much you get for a gift card, especially since people buying Craigslist items tend to negotiate for a very low price.
Then there is the issue of meeting someone you don’t know in a parking lot.
While the odds are slim, they could take the gift card and run off without paying you!
If you decide to go this route, never agree to ship your gift card to someone or provide them with the card number and PIN online. Odds are this is a scam, and you are going to lose.
#7. GC Spread
GC Spread lets you name the price for your gift card. Once you submit the details of your offer, they will accept it, reject it, or make a counteroffer.
After agreeing to a price, you have 24 hours to upload personal information proving your identity.
After this, you will be sent a check within ten days. It is free to list here, so the price you agree to is the money you earn.
#8. Facebook Marketplace
Facebook Marketplace could be an alternative to Craigslist or eBay and a safer one!
Since you will be making the transaction face-to-face, the buyer can verify the amount on the card, and you get paid immediately.
Payment can be in the form of cash or Venmo.
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Reddit has become another popular place to convert gift cards into cash. Visit the site and list your gift card for sale.
You set the selling price, and there are no fees involved. Payment is through PayPal or Venmo.
The risk here is the same as on Craigslist or eBay, which is getting scammed. Make sure you take your time and question everything to limit the risk of losing money.
This idea is unique to Walmart and Amazon gift card holders. Visit Rebaid.com and find items for sale that are free after the rebate.
Make the purchase using your Amazon gift card, and in 7-10 days, you will be credited for the purchase amount. You can then direct deposit the cash to your bank account.
Another site similar to Rebaid is RebateKey.com.
Since none of the options listed will give you the total amount for your gift card, you might consider regifting it to a friend or family member, as the right gift card can make a great gift.
If there is someone you know that would like the gift card you have, you can give it to them on their birthday or Christmas.
While you won’t be getting money for it, you will save money by not having to buy a gift.
Finally, you can consider donating your unwanted gift cards. Again, you won’t get cash in your hands with this option, but you will be helping out those in need.
Also, with your donation, if you itemize your taxes, you can take it as a write-off.
Frequently Asked Questions (FAQs)
How can I turn a gift card into cash instantly?
Several websites let you convert gift cards into cash.
The fastest option is CardCash. Enter the details about your gift card, and within 48 hours of verification, you will have cash in your PayPal account.
How do you get cash out of a gift card?
You have to sell the gift card to someone who wants to buy it.
You usually won’t get face value for the card, but you will come close.
What apps turn gift cards into cash?
Can I sell partially used gift cards?
Most places accept partially used gift cards but do require at least $5 in value still on the card.
Can I sell unused gift cards at a Coinstar Kiosk?
Previously, you could find the yellow Coinstar gift card exchange kiosk and sell your gift card directly there.
Once you inserted your card, you received a receipt that you gave to the customer service desk and walked away with cash.
Unfortunately, Coinstar discontinued this program a few years ago.
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Can I sell a Visa gift card for cash?
You have more options for getting cash from a Visa gift card.
First, if it has a PIN, you can use an ATM and get the cash, though there is a fee.
Another option is to buy a money order and deposit it into your bank account.
Some people have successfully turned their Visa gift card into cash using PayPal, but again, there is a fee with this.
The best free way to get the cash from your card is to sell it to a family member or a friend.
Since the card can be used for purchases anywhere Visa is accepted, it will have strong demand.
So, here are your options for turning gift cards into cash!
Whichever way you choose, ensure you are comfortable with the possible fees and the amount you will receive.
If you decide to sell your gift card on Craigslist, Reddit, or Facebook Marketplace, make sure you take the proper precautions so you don’t get scammed.
Finally, remember that while it is disappointing not to get the total value of a gift card, receiving 80% is better than nothing.
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I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.