It’s been two months since the holidays. How many gift cards do you still have tucked away in your wallet? If you haven’t used that gift card yet, you might want to ask yourself if you ever will use it? I still have two gift cards from last year in my wallet, and it’s time to unload them. You can earn up to 92% cash back.
As gift cards have become a big business, a whole new business has emerged for selling and buying unwanted gift cards. There are also aggregate services that makes it easy to comparison shop for a gift card whether you are buying or selling. In a matter of seconds, you can see who is offering the card cheapest or most expensive.
Blue Rectangle makes it easy to navigate the populated gift card buying and selling business. You enter the gift card and the amount and you see up to three offers for the card.
Gift Card Granny also has a comparison site that makes it easy to see the prices companies are paying. It’s also a good site to visit if you’re looking for a particular gift card. You can see the going price on various sites.
Plastic Jungle offers to buy your gift card with no fees attached. It’s easy to see the price you’ll get, although, you have to enter your card code and PIN.
Cardpool works like Plastic Jungle, but you don’t have to enter your card code and PIN to figure out how much you’ll earn for it.
CouponTrade takes unwanted gift cards and daily deals. When the card sells, the company takes 10% of the value of the purchase plus 99-cents for a daily deal or e-code or $1.75 for a physical sale like a gift card.
Things to keep in mind
With some sites, you can get even more money back if you choose an Amazon gift card instead of cash or a Paypal credit. Then again, do you really need another gift card? The added incentive is only like a dollar.
Most sites tend to offer about the same price for a card, and choose one that offers free shipping so you don’t have to pay to ship the card. Most companies pay you within a few days of receiving your card.
If you are buying a card, make sure it’s guaranteed just in case the money on the card is not as advertised.
Some sites won’t take your gift card if it’s less than $25. While the advertised payback is up to 92%, I didn’t quite get an A return. It was more like a B return rate or 80%. It’s still more money than what I was earning having the card sit in my wallet.