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Cashing Gift Cards

gift-cardI recently won a $15 gift card to a place that I’d probably never go. Sure I could have given it away, but I keep hearing about these places that will buy gift cards from you so I decided to try that out.

Coinstar is an easy one and they are in the Safeway right down the street. That seems to be the fastest way to go, but they take a big cut for the convenience factor. You can hope to get about 50% of the remaining value of the card. There are some slower options online that will give up a little higher percentage. I ended up getting about 65% from cardcash.com. There are multiple ways to get them the card (either type in the info or send it to them) and lots of ways to get paid (check in the mail, PayPal, another gift card, etc). Obviously your best bet is to use the card but if you are stuck with a card that you won’t use, this is better than nothing.

Cardcash also sells gift cards at a reduced rate. You might save 5-15% off the value of the card. The cards I looked at were all pretty big ($100-200) but if you know you have a big purchase coming up, it might be an easy way to save some money.