Received an unwanted gift card? Sell or swap it! - WCAX.COM Local Vermont News, Weather and Sports-

Received an unwanted gift card? Sell or swap it!

Updated:
There are many Internet sites devoted to the exchange and purchase of gift cards. (©iStockphoto/Thinkstock) There are many Internet sites devoted to the exchange and purchase of gift cards. (©iStockphoto/Thinkstock)


By Elaine Zimmermann

Christopher: I received several gift cards for Christmas and I could really use the cash. Where is the best place to sell them?

Elaine: You will be surprised to learn that more than 50% of American adults will receive a gift card this year. Many of these cards sit in wallets and dresser drawers. Many are eventually lost and never redeemed. If you don't think you wish to purchase merchandise with a gift card, it is best to sell or swap it before it is lost or expires, as is the case with some cards.

There more than a billion dollars in gift cards sold annually. It is estimated that up to 40% go unused.

It did not take long for the Internet to pay attention to these numbers. Many new Internet companies were formed around this business opportunity while other traditional Internet sellers, like eBay, added new channels to accommodate this new category.

eBay has a separate category for the selling of gift cards -- "Gift Certificates." A quick glance of the items shows people are selling the traditional gift cards but also gift coupons.

The traditional store gift cards from Macy's, Victoria's Secret and many others appear to be selling for slightly below their face value -- a $50 card sold for $47.00. eBay also charges the seller a percentage of the sales price, so you must keep that in mind if you choose to go this route.

There are many Internet sites devoted to the exchange and purchase of gift cards: SwapaGift, PlasticJungle CardAvenue and MonsterGiftCard and many others.

You can sell your gift card for up to 92% of its face value. In most cases you must mail the card in to the site and wait a few weeks before you receive your money. There are restrictions on the types of cards they will accept and the face amounts they will purchase.

Many of these sites offer the option to "swap" your gift card for another. If you have a Wal-Mart gift card from Father's Day and see a grill at Target you would like to purchase, many card "swappers" will give you an even swap. Your $100 Wal-Mart gift card may get you a $100 Target gift card.

If you are in the market to buy a gift card for a wedding, graduation or birthday, these sites offer many cards at discounted prices directly from the retailer. These include stores, restaurants and even cruise lines. You may be able to get a $100 gift card for $90.

Need your money right away? SwapaGift has locations in California, Texas and the north east where you can get your money in a matter of minutes.

If you are looking to buy a gift card at a discounted rate, these sites offer many cards at discounted prices directly from the retailer. These include stores, restaurants and even cruise lines. An American Airlines $50 gift card may be purchased for $44 dollars.

Elaine Zimmermann is a personal finance expert who was written about everyday ways to save money on cars, homes, vacations and more. For information on investing in foreclosed real estate you can visit her website at www.AskElaineZ.com.

INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
  • Local NewsMore>>

  • Officer involved shooting in Bennington Police Dept.

    Officer involved shooting in Bennington Police Dept.

    Wednesday, April 23 2014 12:22 AM EDT2014-04-23 04:22:02 GMT
    Police say there has been an officer involved shooting inside the Bennington Police Department. It happened just before 9 Tuesday evening. Authorities are releasing very few details. But say the Bennington Police Chief has called in the Vermont State Police to investigate after an officer allegedly shot a man in the lobby of the police station. No word yet on what prompted the shooting. The injured man was taken to a hospital. Police would not comment on the severity of his injuries. Initial ...More >>
    Police say there has been an officer involved shooting inside the Bennington Police Department. It happened just before 9 Tuesday evening. Authorities are releasing very few details. But say the Bennington Police Chief has called in the Vermont State Police to investigate after an officer allegedly shot a man in the lobby of the police station. No word yet on what prompted the shooting. The injured man was taken to a hospital. Police would not comment on the severity of his injuries. Initial ...More >>
  • Champlain College housing plans put on hold

    Champlain College housing plans put on hold

    Wednesday, April 23 2014 12:22 AM EDT2014-04-23 04:22:42 GMT
    It's a fight that's pitting Champlain College against the Queen City. The school says it's not giving up on building more student housing, even after being denied land-use permits. Years ago, the college made a commitment to create housing for all students but that goal has hit a snag, with their recent construction plans on hold.The project would create more than 300 beds for Champlain students on St. Paul Street, but the Development Review Board denied the permits the college needed based o...More >>
    It's a fight that's pitting Champlain College against the Queen City. The school says it's not giving up on building more student housing, even after being denied land-use permits. Years ago, the college made a commitment to create housing for all students but that goal has hit a snag, with their recent construction plans on hold.The project would create more than 300 beds for Champlain students on St. Paul Street, but the Development Review Board denied the permits the college needed based o...More >>
  • Burlington school budget on it's way back to voters

    Burlington school budget on it's way back to voters

    Tuesday, April 22 2014 11:56 PM EDT2014-04-23 03:56:59 GMT
    A new Burlington school budget is on its way to voters that is more expensive and has more cuts than the last version.The board of finance approved a $67.6 million budget. On Town Meeting Day voters shot down a budget that was about a million dollars less than this new budget. After a recent audit that uncovered a $2.5 million dollar deficit, the board was forced to slash $2.5 million in programming and staff. School board chair Patrick Halladay acknowledges concerns about a larger budget wit...More >>
    A new Burlington school budget is on its way to voters that is more expensive and has more cuts than the last version.The board of finance approved a $67.6 million budget. On Town Meeting Day voters shot down a budget that was about a million dollars less than this new budget. After a recent audit that uncovered a $2.5 million dollar deficit, the board was forced to slash $2.5 million in programming and staff. School board chair Patrick Halladay acknowledges concerns about a larger budget wit...More >>
  • Amphibians on the move

    Amphibians on the move

    Wednesday, April 23 2014 12:23 AM EDT2014-04-23 04:23:09 GMT
    People across the state are helping out their amphibian friends on the move. Biologists say this annual salamander crawl happens on the first warm rainy nights of spring like Tuesday night. Over half a dozen of different critters from frogs to spotted salamanders travel to breeding grounds. But often, experts say, that means crossing busy roads which can be deadly for a large number of amphibians. But groups on Pond Road in Shelburne, are giving a helping hand to get the salamanders safely ac...More >>
    People across the state are helping out their amphibian friends on the move. Biologists say this annual salamander crawl happens on the first warm rainy nights of spring like Tuesday night. Over half a dozen of different critters from frogs to spotted salamanders travel to breeding grounds. But often, experts say, that means crossing busy roads which can be deadly for a large number of amphibians. But groups on Pond Road in Shelburne, are giving a helping hand to get the salamanders safely ac...More >>
  • Vermont man accused of identity theft

    Vermont man accused of identity theft

    Wednesday, April 23 2014 12:23 AM EDT2014-04-23 04:23:34 GMT
    A Vermont man is accused of using stolen identities in a scheme to defraud banks now faces federal charges. Prosecutors say 35-year-old Brian Wyer used identities of Ohio and Kansas residents to obtain two Vermont non-driver ID cards. He then allegedly used the fraudulent IDs to open bank accounts in Massachusetts withdrawing about $75,000. Wyer was indicted in Vermont in June and taken into custody by U.S. marshals in Illinois last month. During his arraignment Monday in Burlington the judge...More >>
    A Vermont man is accused of using stolen identities in a scheme to defraud banks now faces federal charges. Prosecutors say 35-year-old Brian Wyer used identities of Ohio and Kansas residents to obtain two Vermont non-driver ID cards. He then allegedly used the fraudulent IDs to open bank accounts in Massachusetts withdrawing about $75,000. Wyer was indicted in Vermont in June and taken into custody by U.S. marshals in Illinois last month. During his arraignment Monday in Burlington the judge...More >>
  • Rutland vandals target parking meters

    Rutland vandals target parking meters

    Wednesday, April 23 2014 12:23 AM EDT2014-04-23 04:23:55 GMT
    Police say vandals in Rutland targeted several parking meters in a quest for quick cash. 11 meter locks and 12 meter cans filled with change were damaged along Merchants Row, Center Street, Court Street, Cottage Street and Justice Square parking lot. One meter pole and its vault was also destroyed. Police put damage in excess of thousand bucks. Anyone with information is asked to call Rutland City police.More >>
    Police say vandals in Rutland targeted several parking meters in a quest for quick cash. 11 meter locks and 12 meter cans filled with change were damaged along Merchants Row, Center Street, Court Street, Cottage Street and Justice Square parking lot. One meter pole and its vault was also destroyed. Police put damage in excess of thousand bucks. Anyone with information is asked to call Rutland City police.More >>
  • Vt. principal who faced criminal charges wants clearer mandatory reporting law

    Vt. principal who faced criminal charges wants clearer mandatory reporting law

    Tuesday, April 22 2014 6:53 PM EDT2014-04-22 22:53:40 GMT
    A law designed to protect kids landed a Vermont school principal in hot water. Now, Danville High School Principal Noah Noyes wants lawmakers to put the state's mandatory reporting rules under the microscope.More >>
    A law designed to protect kids landed a Vermont school principal in hot water. Now, Danville High School Principal Noah Noyes wants lawmakers to put the state's mandatory reporting rules under the microscope.More >>
  • Embezzlement case prompts changes from Vt. officials

    Embezzlement case prompts changes from Vt. officials

    Tuesday, April 22 2014 7:39 PM EDT2014-04-22 23:39:01 GMT
    The case of a Vermont worker charged with embezzling taxpayer money is prompting changes in the state's system.More >>
    The case of a Vermont worker charged with embezzling taxpayer money is prompting changes in the state's system.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.