Target wants your unwanted gift cards.
The Minneapolis-based retailer has launched a gift card trade-in program. Shoppers can now turn over their unused gift cards from other retailers to Target stores and receive Target store credit on the spot — although they won’t get 100 percent of the card’s value.
The Minneapolis StarTribune reports that Target quietly began the program in most of its stores last month.
Target spokesperson Kristy Welker told the newspaper:
“We know guests sometimes have unwanted or unused gift cards and [we] want to give them a convenient option to put those unused dollars toward shopping at Target.”
The program is only available in participating stores. You can look up such stores on Target’s Web page for the trade-in program.
Target accepts gift cards from more than 600 brands. They include its competitors, like Kmart and Wal-Mart, and a variety of other types of companies.
Target describes trading in gift cards as a three-step process:
- Visit the Mobility Kiosk at any participating store and get a free instant quote.
- Securely validate the card value and confirm transfer amount.
- Get paid immediately with a Target Gift Card.
Target’s program isn’t necessarily the best way to get rid of an unwanted gift card, however. Shoppers should first check with online marketplaces that buy and resell unused gift cards.
For example, the StarTribune reports that Target said a $100 Wal-Mart gift card can be exchanged for an $85 Target gift card. But as of Tuesday, the gift card exchange website Cardpool.com, with which Target is partnering, was offering a check for up to $90.50 for the same Wal-Mart card.
What do you do with unwanted gift cards? Would you consider taking advantage of Target’s new program? Share your thoughts below or on our Facebook page.