Did you get a few unwanted gift cards over the holidays? How about a gift card from a store when you returned something without a receipt? If you don’t plan to use these cards, you can easily sell them for cash or trade them in for another store.
Selling Gift Cards
There are so many gift card sales companies online and for good reason. They make a lot of money through commissions, but some have rates much better than others.
I checked nearly a dozen sites with a Pottery Barn gift card I had exchanged for some items after the 90-day return date. It was a large sum, and I knew I didn’t need to spend that much at Pottery Barn again in the foreseeable future. Here are the results. The percentages will differ if trying different stores but CardPool consistently stayed the highest.
- CardPool – 87% of card value in an Amazon gift card
- CardCash by Amazon – 81% of card value
- Card Kangaroo – 81% of card value
- SaveYa -79% of card value
- Card Cash – 77% of card value
- Gift Card Bin – 70% of card value
- Raise – 83% estimated after sale with 5% discounted price tag. This is the best site for buying cards.
I also checked out a site called GiftCardGranny, which is supposed to give you a summary of several gift card sites and their rates. I did not find any of their results were correct when searching each site individually.
Not only did CardPool have the best rate, but you can also choose to mail a check or get an immediate cash option by visiting one of their kiosks. I live in a semi-rural area but was able to find two nearby, one in a grocery store and another in Target. The cash rate of 82% was not as high as an Amazon card, however, but still higher than any of the others. As with many of the other cards, CardPool also gives you the option of selling your card online where they estimated a return of 83% on my card. Note that CardPool does require at least a $10 card value.
So CardPool it is. I chose the Amazon card which I will get in 3 days. In this instance, I did not have to mail my card in, but if you are required to do so, you will be given a free shipping label. Click here to sign up for CardPool and get a $5 gift card.
Buying Gift Cards
You can buy someone else’s gift cards at a discount. Smaller stores offer a higher discount. For example, Walmart or Target gift cards usually go for about 97-99% of their value while something like a specific restaurant or spa can go for 60-70% of their value.
Raise has the best return on value for buying gift cards with an easy to search website and apps for Android and IOS devices. What I love about this site is that you can sort by the highest discount and see if any of your favorites are available. Click here to get $5 if you make a purchase within 30 days.
Trading Gift Cards
If you just want to get an Amazon card, CardPool has the best rates. Cardcash works well if you want to trade cards for another retailer, but the exchange rate will depend on the popularity of the cards. You can expect at least a 10% decrease in value.
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