3 Ways to Convert Unwanted Gift Cards Into Cash or Equivalents

3 Ways to Convert Unwanted Gift Cards Into Cash or Equivalents Photo by Andrey_Popov / Shutterstock.com

Gift cards have been the most popular type of present for more than a decade now, as we reported last year. So there’s a good chance you received one for the holidays — perhaps one you didn’t even want.

If you’d rather have had something else instead of the gift card you got, don’t fret. There are multiple ways to convert an unwanted gift card into something more useful, including cash. Here are three:

1. Sell it

Online marketplaces like Cardpool.com or Raise.com enable folks with unwanted gift cards to sell them to other consumers.

This is one of few ways to get cash out of a gift card. The tradeoff is that you’re selling your gift cards for a little less than their face value — that’s why other folks are willing to buy them.

Just note that each gift-card exchange has different procedures, such as for selling and paying out. So read the rules first.

2. Trade it in

If you would prefer a Target gift card to the one you received, take your card to a Target store that participates in Target’s gift card exchange program.

Even if you’ve already used part of the gift card balance, you can exchange the remaining balance for a Target gift card.

3. Regift it

You can regift an unwanted gift card if you don’t wait too long.

Generally, a gift card is valid for at least five years from when it was purchased, according to the National Conference of State Legislatures. But inactivity fees can kick in after one year.

Alternatively, you could use an unwanted gift card to purchase a gift for someone else.

What do you do with unwanted gift cards? Let us know below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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