Most people buy gift cards for others with the mentality the recipient will be able to find something they like – but unfortunately that optimistic perspective isn’t always reality. Plenty of people receive gift cards they know they won’t use or flat out don’t want, but don’t know what do with them. While asking friends and family if they’re interested in purchasing an unwanted card is an option, a number of websites offer gift card purchasing and reselling services.
How it Works
Sellers: Say you’ve won a $100 Cabela’s gift card from a drawing at work, but you don’t like Cabela’s and/or don’t live near one. Although you could spend time browsing their online selection, you’d rather have money instead. So, you find a gift card buyback site. They might offer you $80 or $90 for the card, so you decide to send it in and you get a check in return. Note that most sites require sold gift cards to be worth at least $25. Some sites even offer Amazon credit or let you trade your gift card in for another one.
Buyers: You’re looking to save some extra money on purchases and heard about gift card resell websites. You decide to check one out and notice you can get a KMart gift card for 10% off retail price, which essentially is the same thing as saving 10% at the store – only the gift card is treated as cash, so you can use other coupons on top of that for even more savings. You purchase it and wait for the plastic gift card to come in the mail or the eGift card code to come to your email inbox.