Have you ever received a gift card for a store you don’t shop at or a restaurant you never visit? You’re not alone. Millions of dollars in gift cards go unused every year, collecting dust in drawers and wallets across the country. But what if you could turn those unwanted gift cards into cold, hard cash? Good news: you can! In this comprehensive guide, we’ll explore three top-rated websites that allow you to sell your unused gift cards for money. We’ll dive deep into each platform, examining their processes, pros and cons, and helping you decide which one might be the best fit for your needs.
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Before we jump into the specific sites, let’s talk about why selling unused gift cards has become such a popular option. Gift cards are a go-to present for many people, especially when they’re not sure what to buy for someone. While the intention is good, the reality is that not all gift cards end up being used. According to a study by Creditcards.com, nearly half of U.S. adults have at least one unused gift card or store credit, with an average value of $175 per person. That’s a lot of potential cash sitting idle!
Selling your unused gift cards not only puts money back in your pocket but also ensures that the card’s value doesn’t go to waste. It’s a win-win situation: you get cash you can use anywhere, and someone else gets a discounted gift card for a store or service they actually want to use.
Now, let’s dive into the three top sites that can help you convert your unused gift cards into cash:
- CardCash
- Raise
- GiftCash
We’ll examine each of these platforms in detail, looking at their unique features, how they work, and what sets them apart from the competition.
CardCash: The Pioneer in Gift Card Exchange
CardCash is one of the oldest and most established players in the gift card exchange market. Founded in 2009, this platform has built a solid reputation for offering competitive rates and a user-friendly experience.
How CardCash Works:
- Get an Offer: Visit the CardCash website and enter the details of your gift card, including the retailer and the card’s balance. CardCash will instantly provide you with an offer for your card.
- Accept the Offer: If you’re satisfied with the offer, you can proceed with the sale. CardCash typically offers between 70% to 92% of the card’s value, depending on the retailer and current market demand.
- Ship or Upload Your Card: For physical gift cards, you’ll need to mail them to CardCash. For e-gift cards, you can simply upload the card information directly on their website.
- Get Paid: Once CardCash receives and verifies your gift card, they’ll process your payment. You can choose to be paid via check, ACH deposit, or PayPal.
Pros of Using CardCash:
- High Payout Rates: CardCash often offers some of the highest rates in the industry, especially for popular retailers.
- Quick Processing: For e-gift cards, you can often receive payment within 1-2 business days.
- Multiple Payment Options: You can choose how you want to receive your money, including direct deposit, PayPal, or check.
- Bulk Selling Option: If you have multiple gift cards to sell, CardCash offers a bulk selling feature, making the process more efficient.
- Option to Trade: Instead of cash, you can opt to trade your gift card for another retailer’s card, often at a higher value than the cash offer.
Cons of Using CardCash:
- Shipping Required for Physical Cards: If you’re selling a physical gift card, you’ll need to mail it to CardCash, which can take additional time.
- Fluctuating Rates: Offer rates can change frequently based on market demand, so the price you see today might not be the same tomorrow.
- Limited Customer Service Hours: While CardCash does offer customer support, their hours are more limited compared to some competitors.
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CardCash Security and Guarantees:
CardCash takes security seriously. They offer a 45-day money-back guarantee on all transactions, which means if there’s an issue with the balance of a card you’ve sold within 45 days of the sale, they’ll refund your money. Additionally, CardCash is PCI DSS (Payment Card Industry Data Security Standard) compliant, ensuring that your financial information is handled securely.
Tips for Maximizing Your Payout on CardCash:
- Check Rates Regularly: Gift card values can fluctuate based on demand. If you’re not in a rush to sell, check back periodically to see if rates improve.
- Consider Trading Instead of Selling: Sometimes, CardCash offers better value if you choose to trade your gift card for another retailer’s card instead of taking cash.
- Sell E-Gift Cards When Possible: Since there’s no shipping involved, e-gift cards often process faster and sometimes offer slightly better rates.
- Take Advantage of Promotions: CardCash occasionally runs promotions offering bonus cash or higher rates for certain retailers.
Who Should Use CardCash?
CardCash is an excellent option for people who:
- Have gift cards from major retailers
- Are looking for the highest possible payout
- Want the option to trade gift cards instead of selling for cash
- Have multiple gift cards to sell at once
Raise: The Marketplace Model for Gift Card Exchange
Raise takes a different approach to gift card exchange by operating as a marketplace where individuals can list their unwanted gift cards for sale. Founded in 2013, Raise has quickly become a popular platform for both buying and selling gift cards.
How Raise Works:
- Create a Listing: After creating an account, you can list your gift card for sale. You set the price, but Raise provides guidance on competitive pricing based on current market trends.
- Wait for a Buyer: Your gift card is listed on the Raise marketplace, where potential buyers can browse and purchase it.
- Transfer the Card: Once your card sells, you’ll need to transfer the balance to the buyer. For physical cards, you’ll mail them to Raise, who then forwards them to the buyer. For e-gift cards, you’ll upload the card information to Raise.
- Get Paid: Raise processes payments 14 days after the buyer receives the gift card, to allow time for any potential issues to be resolved.
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Pros of Using Raise:
- Control Over Pricing: You can set your own price for your gift card, potentially getting a higher payout than other platforms if you’re willing to wait for the right buyer.
- Wide Range of Accepted Cards: Raise accepts gift cards from a broader range of retailers compared to some other platforms.
- Option to Buy Discounted Gift Cards: If you’re looking to save money on future purchases, you can also use Raise to buy discounted gift cards.
- Mobile App Available: Raise offers a user-friendly mobile app, making it easy to manage your listings on the go.
- No Listing Fees: It’s free to list your gift cards on Raise. You only pay a fee when your card sells.
Cons of Using Raise:
- Longer Wait for Payment: The 14-day holding period means you’ll wait longer to receive your money compared to some other platforms.
- Selling Fee: Raise takes a 15% commission on each sale, which is higher than some competitors.
- Potential for Cards Not to Sell: Since it’s a marketplace model, there’s no guarantee your card will sell, especially if it’s for a less popular retailer.
- Pricing Competition: You may need to price your card competitively to attract buyers, which could result in a lower payout.
Raise Security and Guarantees:
Raise offers a 1-year money-back guarantee for buyers, which indirectly benefits sellers by increasing buyer confidence. They also use encryption to protect user data and financial information. Raise verifies the balance and validity of gift cards before they’re sold, reducing the risk of fraud.
Tips for Maximizing Your Payout on Raise:
- Research Current Prices: Before listing your card, check what similar cards are selling for on the platform to price competitively.
- Be Patient: If you can afford to wait, you might get a better price by holding out for the right buyer.
- Offer Popular Gift Cards: Cards from widely-known national retailers tend to sell faster and at better prices.
- Provide Clear Information: Make sure your listing is accurate and includes all relevant details about the gift card to attract buyers.
- Consider Seasonal Timing: Some gift cards might sell better at certain times of the year (e.g., home improvement store cards in spring).
Who Should Use Raise?
Raise is a good option for people who:
- Are not in a hurry to sell their gift cards
- Want control over the selling price
- Have gift cards from a wide range of retailers, including some less common ones
- Are interested in also purchasing discounted gift cards
- GiftCash: The Streamlined Option for Quick Cash
Our third recommended platform is GiftCash, a relative newcomer to the gift card exchange scene but one that has quickly gained popularity due to its straightforward process and competitive rates.
How GiftCash Works:
- Get an Instant Offer: Visit the GiftCash website and enter your gift card details. You’ll receive an instant offer based on the current market value of your card.
- Accept the Offer: If you’re happy with the offer, you can proceed with the sale.
- Verify Your Card: For e-gift cards, you’ll need to enter the card number and PIN. For physical cards, you’ll need to mail them to GiftCash.
- Get Paid: Once your card is verified, GiftCash processes your payment. They offer payment via PayPal, ACH direct deposit, or check.
Pros of Using GiftCash:
- Simple, Streamlined Process: GiftCash offers one of the most straightforward selling processes in the industry.
- Competitive Rates: GiftCash often provides offers that are on par with or better than many competitors.
- Fast Payment: For e-gift cards, you can often receive payment within 24 hours.
- No Account Required: You don’t need to create an account to get an offer, making it easy to quickly check the value of your card.
- Bulk Upload Feature: If you have multiple gift cards to sell, you can use their bulk upload feature to save time.
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Cons of Using GiftCash:
- Fewer Payment Options: While they offer several payment methods, the options are more limited compared to some competitors.
- Less Established: As a newer company, GiftCash doesn’t have as long a track record as some other gift card exchange platforms.
- Limited Customer Support Hours: Customer service is not available 24/7, which could be inconvenient if you encounter issues outside of business hours.
GiftCash Security and Guarantees:
GiftCash uses industry-standard encryption to protect user data and financial information. They also offer a money-back guarantee if there are issues with the gift card balance, although the specific terms of this guarantee are less clearly defined than some competitors.
Tips for Maximizing Your Payout on GiftCash:
- Check Rates Regularly: Like other platforms, GiftCash’s offers can fluctuate based on market demand.
- Sell E-Gift Cards When Possible: You’ll typically get paid faster when selling e-gift cards compared to physical cards.
- Take Advantage of Promotions: GiftCash occasionally offers bonuses or higher rates for certain retailers or during specific promotional periods.
- Use the Bulk Upload Feature: If you have multiple cards to sell, using the bulk upload feature can save you time and potentially result in a better overall offer.
Who Should Use GiftCash?
GiftCash is an excellent option for people who:
- Want a simple, no-fuss selling process
- Are looking for competitive rates without the need to wait for a buyer
- Prefer to sell e-gift cards for quick payment
- Have multiple gift cards to sell at once
Comparing the Three Platforms
Now that we’ve explored CardCash, Raise, and GiftCash in detail, let’s compare them side by side to help you decide which platform might be best for your needs.
Payout Rates:
- CardCash: Generally offers 70-92% of card value
- Raise: You set your own price, but typically 80-85% after fees
- GiftCash: Offers vary, but generally competitive with CardCash
Payment Speed:
- CardCash: 1-2 business days for e-gift cards, longer for physical cards
- Raise: 14 days after the buyer receives the card
- GiftCash: Often within 24 hours for e-gift cards, longer for physical cards
Payment Options:
- CardCash: PayPal, ACH direct deposit, check
- Raise: PayPal, ACH direct deposit
- GiftCash: PayPal, ACH direct deposit, check
Selling Process:
- CardCash: Direct sale to the platform
- Raise: Marketplace model, you list your card for sale
- GiftCash: Direct sale to the platform
Accepted Gift Cards:
- CardCash: Wide range of major retailers
- Raise: Broadest range, including some lesser-known retailers
- GiftCash: Wide range of major retailers
User Experience:
- CardCash: User-friendly website, mobile app available
- Raise: User-friendly website and mobile app
- GiftCash: Simple, streamlined website
Making Your Decision
When choosing which platform to use for selling your unused gift cards, consider the following factors:
- Speed of Payment: If you need cash quickly, CardCash or GiftCash might be your best options, especially for e-gift cards.
- Value of Offer: Compare offers across platforms. Remember that while Raise allows you to set your own price, you’ll need to price competitively to attract buyers.
- Type of Gift Card: Some platforms may offer better rates for certain retailers. Always check multiple sites before selling.
- Amount of Effort: If you prefer a hands-off approach, CardCash or GiftCash might be better. If you’re willing to put in more effort for potentially higher returns, Raise could be a good choice.
- Additional Features: Consider if you’re interested in extra features like CardCash’s trade option or Raise’s ability to also purchase discounted gift cards.
Conclusion
Selling unused gift cards for cash is an excellent way to make the most of gifts that might otherwise go to waste. Whether you choose CardCash, Raise, or GiftCash, you now have the knowledge to turn those unwanted gift cards into money you can use anywhere.
Remember, gift card values can fluctuate based on market demand, so it’s always worth checking rates on multiple platforms before making your decision. Also, be sure to read the terms and conditions of your chosen platform carefully before proceeding with a sale.
How She Made $200,000 in 11 Days with Digital Products
By making smart choices about where and how to sell your unused gift cards, you can maximize your returns and put that extra cash to good use. Whether you’re saving up for a big purchase, paying off debt, or just want some extra spending money, selling your unused gift cards can be a simple and effective way to boost your finances.
