The holiday season is a gifting season. Most gift givers opt for gift cards because they are easy gifts to buy for friends and family and they require less often. However, gift cards are not always useful to the recipient and you may end-up with a pile of the less-than-perfect gift.
Luckily, you don’t have to let your gift cards go to waste. There are various options that you can explore to help you redeem your gift card for instant cash. These include online exchanges, pawn shops that buy gift cards and check cashing stores. Here is a quick look at these options.
An excellent option to sell your gift cards is pawn shops that buy gift cards. If you want to make some quick cash out of your gift card, you should visit your pawn shop or give them a call to find out if they’re willing to buy it.
You can sell a gift card to a pawn shop that buys gift cards and receive cash on the spot. Typically, pawn shops will give you about 50% of the value of the remaining balance on the card and can be verified.
Tips for selling a gift card to pawn shops
- Call Around First – it is essential to call local pawn shops ahead of time to find out which ones buy gift cards. You can use online search engines to find a list of pawn shops in your area and their contacts. This saves you time and money of visiting pawn shops that don’t buy gift cards.
- Sell the Gift Card Quickly while it’s hot– you’re likely to get good value for your gift card during the holidays as it is a popular gifting period. Avoid selling your card off-season when there’s lower demand. Take your card to the shop immediately you receive, if possible, before it begins losing its value.
- Bring A Printout with The Card’s Value – it’s always important to bring a proof of value such as a receipt to support your claim and to ensure that you receive a good offer for your gift card.
Exchange it online for cash
There are several gift card exchange websites that allow you to sell your gift cards for cash. If you have a card that you don’t want, you can go and sell it for some cold hard cash instead of letting the gift card expire or re-gifting it.
Selling your gift card on a website is convenient since the transaction is online, but you should always read up on the fine print before the transaction. Most of these sites will only accept cards of up to a specific value. Additionally, the payout values, which are up to a certain percentage of the card’s value, will vary from site to site. Some exchange sites may require you to pay for shipping costs and may also have lengthy payout periods. Always sell to reputable online sellers to avoid scams and ensure that you know how much you will receive, before the transaction.
Check cashing stores
Some check cashing stores have an exchange program for gift cards. You’ll be required to visit the company or to call them beforehand to find out if they’ll accept your gift card. You’ll then bring in your card to receive an offer for it. If you accept the offer, you receive your cash. The pay-out value usually depends on the popularity of the gift card.
If you have some gift cards sitting in your wallet or on your drawers that are not appropriate for your needs, you can cash them in for some solid cash that you can use to buy what you want.