Gift Card Selling Guide
Sell gift cards for cash with these tips from Flipsy.com
Gift cards are the most popular annual wish list items, yet every year Americans let $1 billion in gift card value go unused. That’s a lot of unspent store credit that could be turned into cold hard cash, if you know how and where to sell gift cards. Before you pull that stack of unwanted gift cards out of the junk drawer, be sure to understand the following about selling gift cards.
How much money can you get for gift cards?
This typically depends on what gift cards you have and where you sell them. Some buyers will pay as much as 92% or more of the current balance, especially for popular brand gift cards. Less popular gift cards might only command 50% of their face values, though you’ll most commonly receive around 75%.
In rare cases, you might even be able to get more than your gift card is worth. Amazon gift cards, for example, routinely sell for more than face value on eBay. This can happen for several legitimate reasons, like buyers who want to make Amazon purchases without creating an account or buyers who are taking advantage of PayPal credits or rebate programs. However, scammers will also offer more than face value, then report your gift cards had empty balances and attempt to get their money back.
What should you consider before selling gift cards?
Before you sell your gift cards to any buyer, consider the following:
- How much will they pay?
- What payment methods do they offer?
- When will you get paid?
- Are there any seller fees?
- Are there seller protections against scams?
- What is the shipping method?
- Who pays for shipping?
- Can you sell your physical gift cards as electronic gift cards?
- Do they accept gift cards with expiration dates?
- Does the buyer have good reviews?
- How long will the entire process take?
What are your gift card selling options?
You have many options for selling unwanted gift cards, including:
- Classifieds sites
- Auction sites
- Dedicated gift card selling and exchange websites
- Gift card kiosks and exchange retailers
- In-person, to friends and family members
Classifieds sites like Craigslist typically do not charge a fee; however, there is a potential to be scammed. One way scammers work is to request you to call the gift card issuer to verify the balance via a three-way call. They then record the touch tone buttons to get your gift card number.
Auction sites like eBay have final sales fees and potential shipping fees that can reduce your payout. Unlike other items, gift cards have a definitive top value, so auctions do not necessarily drive up their prices enough to cover those fees. In addition, the potential to be scammed exists.
Online gift card selling and exchange services
Online gift card selling and exchange service are among the safest ways to sell unwanted gift cards, since they’re moderated: they guarantee payouts to sellers as well as the gift card balance to buyers.
You either sell directly to the service, which then resells your gift card; or, you list your gift card for sale to end users, in which case the service moderates the sale. You can also exchange your gift cards directly with other end users or for store credit to be used toward other gift cards.
Shipping is typically covered by the service via a free prepaid shipping label, and payouts are typically issued via PayPal, check, or direct deposit.
Gift card kiosks and exchange counters
Some companies have placed gift card kiosks in stores or partnered with brick-and-mortar merchants to exchange or purchase gift cards in-store. These typically pay instantly via cash or check.
You can see if friends and family members want to buy or exchange gift cards. Since you know them, you can (usually) trust them and get instant cash for your gift cards.
Where to sell your gift cards
Flipsy Trust Verified Stores Buying Gift Cards
The following Trust Verified Stores buy gift cards. Let them know which gift cards you have and their values, and they’ll give you a quote. If you accept, you can select your payment method and cash in.
Next: 17 Places to Sell Gift Cards