How to Convert Gift Card to Cash

A gift card or a gift voucher is given by a retailer or a bank for you to utilize as an alternative to money. You can use your gift card to buy within specific stores, restaurants, or gas stations. You can only spend at accepted locations.

Some gift cards also let you make withdrawals at specific ATMs. A gift card also serves as an excellent thing for people who are hard to shop for. But sometimes, you may have a gift card that you don’t want to use.

For example, when you have a gift card to use at specific restaurants, but you no longer eat out. Instead of letting the gift card stay unused or expire, you can turn it into cash. This post will show you how you can sell gift cards online.

The Best Places to Sell Gift Cards Online

If you have no use for your gift cards, there are specific places where you can sell them. Some online platforms act as gift card resale sites. And most of them will purchase gift cards for close to their original value.

To find the best resale site, you need to compare the prices offered by the available options. It’s best for you to settle for a platform that offers the best price. Some of the popular resale sites include GiftCash, CardCash, Raise, and ClipKard. Here’s a comprehensive review of each platform.

1. CardCash

CardCash is one of the platforms where you can sell your gift cards online. The platform also allows you to trade your gift cards for a certificate at your preferred retail store. Usually, the amount you get for the gift cards varies.

For instance, if you have a $20 card, you might receive about $15. You can never get the full amount of the card’s value. The platform gives you about 92 percent of its value.

2. GiftCash

GiftCash is also another site that purchases gift cards. All you’ll need to do is type in the card you’d like to sell and how much it’s worth. You will receive an offer for you to sell. If you’re using a card from a renowned store, you’ll most likely get an impressive offer – close to the card’s face value.

Through this platform, you can get up to 92 percent of the card’s value. However, your card must have a minimum value of $25 and a maximum value of $2,000.

3. Raise

Raise is a preferred gift card resale site. Most people like Raise because the platform allows you to set your gift card’s price. When another buys your card, you must give the site a 15 percent commission. Additionally, Raise lets you sell cards with partial balances. But every card must have at least $10 and nothing more than $2,000 in it.

4. ClipKard

ClipKard allows you to convert your gift cards to cash, as well as trade them for other gift cards. You can use the quote tool to determine your card’s value. Next, key in the necessary information and list your gift card for sale.

Once accepted, you can select to ship your gift card via USPS. Alternatively, you can upgrade the method but the amount will get deducted during payout. You’ll receive payment through PayPal. Intriguingly, this site also lets you earn rewards – you get $10 for every 1,000 points.

5. Gameflip

Gameflip is an online platform for gamers where you can sell your unused gift cards. First, you’ll need to create your profile on the site to list your gift card for sale. The cards that you can sell herein include Xbox, PlayStation, iTunes, and Steam.

The platform also gives you maximum control of your card’s price. But you can issue discounts of between two and 15 percent. Once you sell, GameFlip keeps eight percent of all the listings, plus an extra two percent for digital listings.

6. QuickCashMI

QuickCashMI is a platform based in Michigan. The site gives you one of the easiest ways to convert your gift cards to cash. The platform accepts cards from a wide range of brands, including Amazon, JCPenney, and IHOP.

When you key in the amount of your gift card, the site will tell you how much you’ll get. However, the cash you get depends on your gift card’s brand.

7. GiftCardBin

GiftCardBin used to allow people to sell their gift cards through their site. However, the site no longer supports sales.

Instead, you’ll need to visit a map on the platform, whereby you type in your ZIP code. GiftCardBin has 600 partner locations, and if you’re near one you can take your gift card plus a valid identification form to get the money.

8. CardSell

If you’d like to convert your gift card to money, you can rely on CardSell – an online platform. Like most resale sites, you have to provide your gift card details for verification purposes. Once the retailer verifies your card, you can sell it for cash. The money gets deposited into your PayPal account within two days or 48 hours.

How to Convert a Visa Gift Card to Cash

Usually, Visa gives users prepaid gift cards. You can use your gift card on various occasions, including holidays, weddings, and birthday parties. It doesn’t matter whether someone gifted you the card or you bought it in a promotion. You can spend the balance anywhere.

However, most people don’t know how they can convert their Visa gift cards into money. You need to follow specific procedures. Fortunately, most of the methods are easy to do. Here are the proven ways to convert your Visa gift card into cash.

1. Visit an ATM to make a cash withdrawal

If you have a Visa gift card, you can convert it to cash by visiting your ATM. Visa usually offers customers prepaid credit cards. Therefore, you can buy the card and load it with a specific amount of cash. The card will usually have a Personal Identification Number (PIN), which you’ll use to withdraw money from an ATM.

2. Purchase a Money Order and Deposit in Checking

Specific retail stores, such as Walmart and some grocery stores allow you to purchase money orders using your Visa gift card. However, you must check whether the option is available near you.

After purchasing the money order, you need to deposit it into your bank account. That way, you can use it as cash. But you need to be wary about depositing plenty of money orders because some banks tend to close accounts for this reason.

3. Use your card like cash for utilities, etc.

Alternatively, you can use your Visa gift card to pay specific bills, such as your electric bill. However, you need to know that this is just like converting your gift card to cash despite the fact that you’ll never see the cash.

Usually, the Visa gift card gets treated as your credit card. So, you may incur some fees. That’s why it’s advisable to make an assessment and determine whether this’s worthwhile.

4. Buy and flip products

Another popular way to get cash from your Visa gift card is by buying and flipping products. Ideally, some stores consider Visa gift cards as credit cards. Therefore, you can use your gift card to buy items from these stores.

However, you need to check items with high demand or those whose price is significantly reduced. That way, you might sell them at a higher price compared to what you bought them for, making some money.

Alternatives to Selling your Gift Cards

Sometimes, you don’t have to sell your gift cards to convert them to cash. You can rely on specific options to get the most out of your card. Some of the most popular alternatives include re-gifting and donating the gift card. Here’s how you can make proper use of your gift card.

1. Regifting

Another way to make good use of your gift card is by re-gifting it. By gifting someone, you still reap the benefits of the gif card. Usually, this option works in your favor if you’d planned on buying a family member or a friend a gift.

Instead of heading out to the store, give the close person your gift card. They can use it to get something from acceptable stores or restaurants. However, ensure to remove details that indicate you’d initially received the card as a gift.

2. Donate

A donation is another alternative to using your gift card. The donation process is normally quick and simple. It is one of the ways you can demonstrate your charitable efforts. The gift card goes out to help families to cover various bills, including buying food.

You will find some charities that accept gift cards as donations. If you know of one, you can donate the unused card instead of keeping it locked up in a drawer. You can contact the charity organizations or review their sites to know how you can make donations.

Summary

Most people like gift cards. However, not everyone makes good use of their gift cards. For instance, you may receive a gift card from a hardware store but you hardly do any Do-It-Yourself projects. As a result, the gift card may just end up in your storage of unwanted things. In some cases, it might even expire.

However, there’s no need for you to leave your gift card unused. Instead, you can convert yours to cash. Fortunately, there are plenty of ways to accomplish this. You can sell your gift card(s) on a resale site of your choice.

Some of the most popular resale sites include CardCash, GiftCash, Raise, ClipKard, and Gameflip. However, before choosing a specific site, you need to check its terms. The prices often vary, plus some take specific gift cards.

You want to get the most out of your gift card, although these sites only give you a percentage of the gift card’s face value. Most will give you 92 percent of the original value.

However, if you don’t want to sell your unused gift card, there are other ways to put it to use. The most common ways include re-gifting and donating the gift card. Some charity organizations accept gift cards as part of their donation plan.

That notwithstanding, you can get money from your gift card by buying a money order and depositing it in checking. Alternatively, you can use it to buy and flip products from your preferred retailer. You can also use your gift card as cash for utilities.