Do you have a lot of gift cards from Christmas still sitting around for places that you never go to? Instead of letting the gift cards sit and waste away, here are three ways you can sell your gift cards for cash.
#1 Online Gift Card Reseller
One very convenient way to sell your gift cars for cash is to go through an online gift card reselling site. These online gift card resellers will allow you to sell your gift card online through their site. If someone purchases your gift card, you will have to either provide the electronic code for the gift card or send in the physical gift card to the online gift card company so they can forward it on to the buyer.
These sites want to provide a deal for their customers, so they will require you to sell your gift card below its actual value. They generally have a set percentage below the actual value of the card for each merchant that they will require you to sell your card at, although some resellers allow you to set the percentage. For example, if your gift card was for $100, and the discount for that retailer was 10%, you would only be able to sell your gift card through the online gift card reseller for $90.
However, you don't walk away with $90. You will be required to give a set percentage of whatever you make to the online gift card reselling company to compensate them for their services. If their service charge is 10%, they will take $9, and you will walk away with $81 for your $100 gift card.
#2 Pawn Shops
Another way to sell your gift cards for cash is by taking them to your local pawn shops, such as Sol's Jewelry and Pawn. Pawn shops generally only accept physical gift cards and not electronic gift cards. Call ahead and see if your local pawn shop takes the type of gift card that you are attempting to sell.
When you take your gift cards to your local pawn shop, you don't have to wait for someone to purchase your gift card in order to get money for your gift card. You will receive money for your gift card on the spot.
Again, you shouldn't expect to walk away with the face value of the gift card. In order to make some money on the transaction, the pawn shop will pay you a percentage of the face value of your gift card. For example, if you have a $100 gift card, you may be paid 80% of its face value, or $80.
#3 Online Classified
Finally, instead of selling your gift cards through an online gift card reseller or to your local pawn shop, you can always attempt to sell your gift cards through your local online classified.
When you use this option, all the responsibility of selling the gift cards lands on you. You have to post the advertisement and decide what you will sell the gift card for. Then, you have to monitor the responses you get.
Once you select someone to purchase your gift cards, you will have to arrange to meet that person if you are selling physical gift cards, or arrange to send them the codes if you have digital gift cards. You will be responsible for the entire selling process and exchange of money, but you won't have to pay any fees to a middleman.
Instead of letting them sit around, get money for your gift cards by selling them through an online gift card reseller, by selling them to your local pawn shop or by selling them yourself through an online classified site. No matter what option you choose, you'll end up with cash you can use.