Here's How You Can Cash in on Those Unwanted Gift Cards You Got for Christmas
You have several options for getting rid of gift cards you don't want
People often receive gift cards from people they don't know too well. While the thought is nice, there's a good chance it will be to a store you never visit. Even if the gift card is for your favorite store, there's a chance you'll forget about it. If you have an unwanted gift card, you have a few options for cashing in.
- Return the gift card to the retailer.
- Donate the gift card to charity.
- Sell the gift card.
- Re-gift the gift card.
If you have an unwanted gift card, you might be able to return it to the retailer. It's a long shot, but some retailers do allow gift card returns.
There are often a lot of catches and hoops to jump through, though. You may only be able to return it if the card was purchased with cash. You may need the original receipt. You may have to return to the specific store where it was purchased. Some refunds for cards purchased with a card will go back to the original card, not to you. And still others require you to call a number and request a check.
Gift cards are just like cash, and when donated to charity can be considered a cash donation eligible for a charitable deduction on your tax return. Contact the charity of your choice and inquire as to whether gift cards can be donated. Some charities, like us, accept gift cards in person, by mail or electronically. Others don't accept them at all.
There are a number of different online services that convert gift cards into cash to provide charitable services. If you are donating your gift cards to a service like this, make sure to check them out before donating to avoid scams.
Many Coinstar Exchange kiosks will accept unused gift cards valued over $20 for a cash offer for a percentage of the value. You will receive a voucher to cash in at the customer service desk where the kiosk is located. You may only have a certain amount of time in which to cash in the voucher.
You can also sell the card online at sites like Card Cash, Cardpool, and Raise. You enter the card details and they make you an offer. When you accept, they verify the balance and process the request.
You always have the option of giving the gift card to someone who will use it. But be careful. Some gift cards expire and some deduct value from the gift card after a period of inactivity.