How To Redeem Gift Cards For Cash

Introduction.

Gift cards are great, right? They’re the perfect gift when you’re not sure what someone wants, and they let the recipient choose exactly what they like.

But let’s be honest—sometimes you end up with a gift card you’re never going to use. Maybe it’s for a store you don’t shop at, or perhaps you just really need cash instead.

That’s where the idea of turning gift cards into cash comes in. It’s not something everyone thinks about, but it’s a legit way to make use of those unused cards sitting in your drawer.

I’ve been there—staring at a stack of gift cards, wondering what to do with them. Over time, I’ve learned a lot about how to turn those cards into real money, and I’m here to share everything I know.

In this article, I’ll walk you through the process step by step, share some tips to avoid scams, and answer common questions you might have. Let’s get started.

Why Turn Gift Cards into Cash?

First, let’s talk about why you might want to do this. According to a 2022 report by Bankrate, about 47% of Americans have at least one unused gift card, and the total value of unused gift cards in the U.S. is estimated to be over $21 billion.

That’s a lot of money sitting around! Instead of letting those cards collect dust, turning them into cash can help you pay bills, save for something important, or just have a little extra spending money.

Another reason? Flexibility. Cash is universal. You can use it anywhere, for anything. A gift card, on the other hand, locks you into a specific store or service.

If you’re not planning to shop there, it’s useless. Converting it to cash gives you the freedom to use that money however you want.

How Do I Redeem Gift Cards for Cash?

Now, let’s get into the nitty-gritty. There are several ways to turn your gift cards into cash, and I’ll break them down for you.

1. Sell Them Online

One of the easiest ways to get cash for your gift cards is by selling them on dedicated platforms. Websites like Raise, CardCash, and GiftCardGranny allow you to sell your gift cards for a percentage of their value. Here’s how it works:

You list your gift card on the site, including its value and the retailer it’s for.
The site offers you a price (usually around 70-90% of the card’s value).
If you accept, they’ll pay you via PayPal, check, or direct deposit.

Pros: It’s quick and easy, and you don’t have to deal with finding a buyer yourself.
Cons: You won’t get the full value of the card, and some sites charge fees.

2. Use Peer-to-Peer Marketplaces

If you’re comfortable dealing directly with buyers, you can sell your gift cards on platforms like eBay, Facebook Marketplace, or Craigslist. This method gives you more control over the price, but it also requires more effort.

Take clear photos of the gift card (covering the PIN for security).
Set a price (usually slightly below the card’s value to attract buyers).
Communicate with potential buyers and arrange payment.

Pros: You might get closer to the card’s full value.
Cons: It can take longer, and there’s a risk of scams if you’re not careful.

3. Trade Them In at Kiosks

Some grocery stores and malls have kiosks that buy gift cards. Companies like Coinstar offer this service. You insert your card, the kiosk checks its balance, and it offers you cash on the spot.

Find a kiosk near you using their website.
Follow the instructions on the screen.
Get cash instantly.

Pros: It’s fast and convenient.
Cons: The payout is often lower than other methods, and not all kiosks accept every type of gift card.

4. Exchange Them with Friends or Family

If you know someone who shops at the store your gift card is for, you can offer to sell it to them. This is a win-win—they get a discount, and you get cash.

Let them know you have the card and offer it at a reduced price.
Once they agree, give them the card and collect the cash.

Pros: No fees, and you can negotiate the price.
Cons: It depends on finding someone who wants the card.

5. Use Apps

There are apps designed specifically for buying and selling gift cards. Apps like GameFlip and Gift Card Spread make the process simple.

Download the app and create an account.
List your gift card and wait for offers.
Once sold, the app will transfer the money to you.

Pros: Convenient and user-friendly.
Cons: You might not get the full value, and some apps have fees.

Tips to Avoid Scams

When dealing with gift cards, it’s important to be cautious. Scammers are out there, and they’re always looking for ways to take advantage of unsuspecting sellers. Here are some tips to stay safe: