Following the holiday seasons, shop gift playing cards can sit in your wallet, unbothered for months—indeed, at any presented time, concerning 10-19% of reward card balances remain unredeemed, and 6 % of present cards are never even employed, in accordance to The Hustle. Fortuitously, you can sell these cards for actual hard cash on reseller web-sites. But are reward card exchange web sites protected?
How reward card exchanges operate
You can invest in or offer reward cards on gift card trade sites, which act as brokers amongst buyers and sellers.Basically, you article a listing for the present card you want to offer, and as aspect of this listing you submit the card’s range and PIN, which is confirmed by the site. The true trade is mainly electronic, but it can incorporate mailing bodily cards, with the reseller performing as the center male.
You’ll in no way market a gift card for 100% of its worth, nevertheless, as the broker normally takes a little percentage and potential buyers will count on some kind of discounted (usually they’d just purchase present playing cards instantly from stores). But while you drop some benefit, you are also getting hard cash that can be used anywhere, not just in a person keep. Additionally, the loss in price is improved than not utilizing it at all—if you haven’t applied the card in 180 days, you are additional probably to not redeem the card at all, according to a Paytronix report.
How a lot you can generate also relies upon on the attractiveness of your present card and how a lot of are on the marketplace. A $100 Amazon or Visa reward card will have far more need, for case in point, than, say, a $100 Arby’s reward card. Count on to generate amongst 50–92% of a card’s worth, relying on industry desire.
A word of warning
Stay clear of the temptation to sell your cards on your personal employing eBay or Fb, as it’s as well easy to get ripped off without a third-bash broker. Rather, use only the most established reward card internet sites that supply client support, like CardCash, GiftCash, and Raise. You can start with GiftCardGranny.com, which is an aggregator that compares gives from other reseller web-sites.
However, even these more substantial websites should really be approached with a bit of caution, as they often obtain Far better Company Bureau (BBB) problems about card rejections at stores, as nicely as delays in acquiring playing cards and payment.
Past December, the BBB issued an alert about the common reseller Cardpool, which at present has an “F” score thanks to the volume of problems. That doesn’t suggest that all the other web pages are the identical, or that they never supply assistance or react to complaints—it’s just something to keep in brain (individually, I’d be comfortable purchasing a reward card off just one of these sites, but I’d also try out to use it suitable away).
BBB gives these tips when considering employing a gift card reseller:
- Investigation the organization just before you purchase, sell, or trade.
- Visit BBB.org and discover out the company’s score.
- Read through the grievances and shopper reviews of any on-line reward card reseller that you might be looking at.
- Make certain the business has quick to find contact information.
- Have an understanding of what the business’s policy is regarding refunds.
- Use a payment strategy that will enable you to dispute the charges.
- Immediately check out the equilibrium and any passwords or pins of any playing cards that you buy.