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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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