If you have unused gift cards lying around collecting dust, do not waste them. The gift card industry is estimated to be worth $60 billion, and experts say that at least 10 to 15 percent of gift cards are not redeemed. That’s $6 to 9 billion dollars that consumers never use up.
Retailers count on it because unused gift cards are equivalent to corporate profits. However, unused gift cards need not be wasted. There are several websites, including EJ gift cards., where gift cards are traded and even sold for cash. You will also find discounted staples gift cards on Ej gift card.
What to Do With Unwanted Gift Cards
1. Set Them Up For The Auction
Unused gift cards can be sold online. If you need cash for your gift cards, Visit ejgiftcards.com for more info. Other sites like Cardpool and Plastic Jungle also let sellers auction off their unwanted or unused Gift Cards. Buyers flock to eBay during the holidays, so try selling unwanted Gift Cards online in November and December for the best return. If your name is on one of the gift cards, make sure they are transferable before you put them up for sale.
2. Exchange your Gift Cards
In addition to auction cards, there are several gift card swap shops:
With ABC gift cards you can buy, sell or trade gift cards. Card Avenue has a very extensive inventory of cars for sale. Navigating the website is easy. If you want to exchange a card, create a “wish list” of gift cards that you would consider in exchange for your gift card. For example, if you have a $50 Pottery Barn card, but you would rather have a $50 Victoria’s Secret or Macy’s card, then add these cards to your wish list. Other merchants will search the site, and if you have a Macy’s or Victoria’s Secret card and want your Pottery Barn gift card, you may be able to make the trade. The site receives a commission from the merchants.
Some people find it tactless to “regulate” a gift certificate. However, if you choose to do so, you should ensure that the card and the envelope of the gift card show no signs of wear and tear. It may be possible to obtain a new gift envelope from the original merchant. You can also add the Regifted Card to another gift. Keep the card in a new book for a creative bookmark or attach the card to a soft toy.
If at all possible, try to avoid unpleasant situations by moving a card from a friend to a relative or colleague who does not know the friend.
4. Give Charity
A charitable donation can be a good gift card. Benefits include convenience, tax write-off, and the ability to donate to a good cause. To make a charitable donation, look for a non-profit organization that can best use the card. For example, a food bank cannot be used for a gift card from a high-end clothing retailer, but an organization that helps people prepare for job interviews may be able to use the card.
Large non-profit organizations have listed the donation contact information on their website. Email the contact, describe the gift card and its value. In return for the donation, you will receive a letter from the organization confirming your gift. The letter should be on their stationery and should state the date of receipt, the value of the gift and the tax number. Keep this for your records so that you can take a tax deduction for charitable donations.
5. Redeeming For Cash
Some states require that gift card issuer allow cardholders to exchange their gift cards for cash. California law states that consumers can receive cash from the issuing retailer if a gift card has $10 or less left on the card. In Maine, Massachusetts, and Montana, cards with a value of $5 or less can be exchanged for cash. In Vermont, cards with a value of less than $1 can be redeemed for cash. Investigate to determine if changing money is an option.