If you receive a gift card for an amount that isn’t what you want, it’s always a good idea to liquidate it for cash. This allows you to save money and put it towards something that is of interest.
Many retailers will allow you to exchange a gift card for cash. For example, California state law states that any gift card can be 문화상품권매입 redeemed for currency.
1. Sell it to a friend or family member
During the holidays (and other times throughout the year) it’s common to be given gift cards for stores, websites and restaurants. Often these cards end up going unused, and they can seem worthless to the holder.
One option is to sell it for cash through a website like CardCash or Raise. These sites are essentially marketplaces that allow people to buy and sell gift cards. They typically offer a price for the gift card that is less than its face value and take a cut of the sale.
Another option is to trade it with a friend or family member who may have more use for the gift card than you do. For example, a friend who regularly makes home improvements could use a home improvement store gift card for tools or supplies. You can also regift the gift card to someone else, which may be the easiest and safest option. Some retailers will even let you return gift cards for cash.
2. Donate it to a charity
If you have gift cards from restaurants or stores that you’ll never use sitting around collecting dust, you can donate them to a charity. Sites like CharityChoice allow you to turn gift card balances into donations for over 1,000 charities (it does deduct a small percentage of the donation for marketing and administrative costs).
You can also give your unused gift cards to local charities, such as food pantries or animal shelters, that may be able to use them for merchandise they need. You can also give them to groups that host basket raffles and giveaways.
It’s important to do your research before donating any money to a charity, Jenkin said. He recommends searching the name of the group online using keywords such as “complaint,” “review,” or “fraud” to avoid being scammed. You can also check out the sites’ Better Business Bureau profiles and ratings. It’s also a good idea to contact the charity directly to see what they need most.
3. Convert it to a Visa card
A Visa Gift Card can be redeemed for cash at millions of merchants. However, you may not always receive the entire value of your card. One option is to buy a money order with the remaining balance. You can find these at most post offices and some grocery stores. The amount of the money order will be deducted from the balance on your card.
Another option is to use your card to pay bills online. This can help you avoid late fees and interest charges on credit card debt.
You can also sell your gift cards for cash on sites like eBay and Craigslist. This can be a time-consuming and risky process, but it could result in you getting more than the card’s initial value. You can also transfer the funds to your bank account or a digital wallet like PayPal or Venmo. This option is more convenient than selling your gift card to a private buyer.
4. Return it for cash
Some online gift card resellers, such as Raise and CardCash, allow shoppers to sell their unwanted cards at a discount. After agreeing to fraud prevention stipulations and providing your driver’s license number, the company will make you an offer for the card, which you can accept or decline.
These companies will pay you through a PayPal or ACH payment, or in some cases, in a different store’s gift card. You can also try to return the card directly to the retailer that issued it.
However, this may be a difficult option, especially if the card is for a chain that has gone out of business. It’s also worth noting that gift cards don’t come with the same protection as credit or debit cards, so if your card is stolen or lost, you may not be able to get its full value back.