3 Ways to Convert Unwanted Gift Cards Into Cash or Equivalents

3 Ways to Convert Unwanted Gift Cards Into Cash or Equivalents

About 75 percent of consumers planned to buy at least one gift card going into this holiday season, according to National Retail Federation statistics. So there’s a good chance you recently received one — perhaps one you didn’t even want.

Fortunately, there are multiple ways you can convert an unwanted gift card into something more useful, including cash.

Sell it

To convert a gift card to cash on the spot, head to your nearest Coinstar Exchange kiosk.

There you can scan or swipe a gift card to receive a monetary offer for it. If you accept the offer, you’ll get the cash. Just note the directions on the Coinstar Exchange site first.

If you can wait longer for your cash and prefer to shop around to get as much money as you can for an unwanted gift card, try a reputable online marketplace like Cardpool.com or Raise.com.

These exchanges enable you to sell unwanted gift cards, as well as to buy unwanted gift cards at a discount — a great way to save money.

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

Trade it in

If you prefer a Target gift card to the one you received, visit one of the retailer’s mobile kiosks in its stores.

There you will receive an offer for a Target gift card in a certain amount. If you accept the offer, you’ll exchange your unwanted card for the Target gift card.

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 U.S. Federal Trade Commission. But inactivity fees can kick in after one year.

Alternatively, 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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