With some $44 billion going unredeemed in gift cards since 2005, CardHub has a list of 5 Valuable Uses for Unwanted Gift Cards to help folks make use of their money:
- Sell Them for Cash: An online gift card exchange enables consumers to sell gift cards for cash and fetch up to 95 cents on the dollar in return. CardHub’s gift card exchange is the only one that allows you to sell any gift card you wish at any price without charging any fees. The ability to sell to individuals or respected gift card companies also increases your chances of finding a buyer.
- Re-gift: The holiday season isn’t the only time people give gift cards. In fact, holiday sales only account for around a quarter of the gift card market’s annual sales. So, if you think an unwanted gift card has someone else’s name written all over it, why not hang onto it, re-gift, and save the time, money and energy you would have expended looking for another present? Most stores allow you to trade in old gift cards for new ones, so there is no need to worry about giving a card bearing outdated branding.
- Pay Down Debt: The average household owes roughly $6,700 to credit card companies. And while we’re starting to rack up debt at a slower pace, we still added more than $30 billion to our tab in 2013 and are on pace to do the same this year. Any extra money that can be allocated to building an emergency fund or paying down debt should therefore be welcomed, and you can sell unwanted gift cards for cash through a gift card exchange.
- Swap Them: Card Hub offers the only gift card exchange that incorporates Facebook, thereby allowing consumers to simply swap gift cards with friends, neighbors or colleagues if they so choose.
- Donate to charity: Charity organizations usually accept donations in a variety of forms, which may include gift cards. Even if a particular charity will not accept a gift card, you can always redeem it and donate the resulting goods.