Buying and Selling Gift Cards

by Emily on October 24, 2011

The holiday season is quickly approaching and one of the more popular items that people purchase for others is gift cards. Gift cards can be a wonderful item to receive if you’re planning on buying something from that specific store. If you receive a gift card from a store you don’t like or that you do not have a desire to purchase anything from what are you supposed to do with that gift card- Regift it? No. You can sell the balances on gift cards that you are not going to use online. It is a secondary market for gift cards. Most people do not think of gift cards as money, but they truly are and now you can actually get cash for their value.

There are a ton of sites out there in which you can big and sell gift cards. If you sell your gift card on one of these sites, then you can use that money to buy a discounted gift card from a retailer that you actually want to purchase items from. One of the websites where you can buy discounted gift cards and sell the remaining balance on your gift card is called Plasticjungle.com. This website has great deals on gift cards and a large number of retailers to choose from when purchasing discounted gift cards.

In order to sell your gift card on the majority of these sites you enter the retailer of the gift card you have and then the value of the balance on the card. You can get cash for the gift card value, which is usually 90% of the original value. By selling your gift card you are getting cash value for an item that you may have never used. Plasticjungle.com also gives you the option to trade your gift card for an Amazon.com gift card that will be valued at 94.5% of your original gift card value. This website is particularly popular because the prices are fixed. There is no bidding on the buying or selling transactions. Also, the website guarantees all transactions, has free shipping and allows you the option of choosing to donate your gift card directly to your favorite non-profit organization.

In order to buy gift cards on these websites, you search for the retailer you desire and look at the discounted rates. You choose the discount and the amount you want to purchase. Its similar to having a coupon, you will get a $50.00 gift card to a retailer at a price less than the face value of the card. Buying gift cards on these sites can be a great gift to give someone. You may want to give someone a gift card to a particular store or restaurant, but you do not have that store or restaurant in your neighborhood. By using these websites you have access to retailers and restaurants that are not near you. This can also be helpful if you are going on vacation and want to go to a particular restaurant; buy the discounted gift card online and enjoy a delicious meal on your trip. Some of the websites even allow you to swap cards with other users on the site. You can exchange your gift card for another of a retailer you truly want. Some of the sites even allow you to create a wish list for swapping. You can list the stores that you are willing you trade your gift card for. You can also combine multiple gift cards from different retailers and trade them for a single gift card of a different retailer for the same value as all 3 of your other cards. There is typically a small transaction fee on most sites when you swap gift cards.

Even if you use the gift card you receive to purchase one item from that retailer, you can still sell the balance on these websites. Why lose the value of the card, even if it is a low amount when you could sell it for cash. You may even like the retailer of the gift card you received, but you find yourself low on cash. Instead of buying something you may not need, you can turn your gift card into cash that you do need. This secondary market for gift cards will allow you to get the gifts you truly want this holiday season.

Update to Article:

If you would like another option for your unwanted gift cards you could consider a gift card exchange website. This will allow you to exchange the gift card you don’t want for one you do.

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