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Cashing in on unused gift cards

Posted: 8:44 PM, Jan 14, 2020
Updated: 2020-01-15 12:42:26-05
Gift cards

KANSAS CITY, Mo. — Gift cards topped holiday wish lists for 2019. The National Retail Federation found 59 percent of people surveyed had asked for them.

But what happens when you recive a gift card for a store or restaurant you don't like?

According to CNET, there are several websites where you can cash in on those unused cards.

Cardpool

On Cardpool.com, you can type in the name of a store or restaurant, then the balance of your gift card.

The site promises up to 92 percent cash back, with a 6 percent boost if you accept payment in the form of an Amazon gift card instead of a check.

The 41 Action News Investigators entered a $100 Gap card and found it was worth about $63.

CardCash

The Gap gift card fetched a higher price on another site called CardCash.

The website offers payment in cash, but you can make more by trading your unwanted gift card for one to a different retailer or restaurant.

The $100 Gap card was worth $75 in cash, but it could be traded for an $80 gift card to CVS.

Raise

On Raise, you can post a listing for your card. All you have to do is enter the gift card's serial number, its balance and the selling price.

The site will then calculate how much of a discount you're offering, plus how much you will pocket from the sale.

eBay

Of course you can also sell gift cards on eBay, although CNET points out there's less of a guarantee you will get a good return on the value. There's also a risk that a scammer buys the card, drains it and then claims the product was "not as described."

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