Is It Safe to Buy and Offer on Present Card Exchanges?

by | Jan 22, 2021 | Cards | 1 comment

Illustration for article titled Is It Safe to Buy and Sell on Gift Card Exchanges?

Image: Lutsenko_Oleksandr (Shutterstock)

After the vacations, store present cards can sit in your wallet, unbothered for months– indeed, at any provided time, in between 10-19% of present card balances stay unredeemed, and 6 percent of gift cards are never even utilized, < a data-ga ="[["Embedded Url","External link","https://thehustle.co/what-happens-to-unused-gift-cards/#:~:text=At%20any%20given%20time%2C%2010,cards%20are%20never%20even%20used.&text=These%20small%20percentage%20points%20add,gift%20cards%20have%20been%20sold.",{"metric25":1}]] href=" https://thehustle.co/what-happens-to-unused-gift-cards/#:~:text=At%20 any%20 offered%20 time,%2010, cards%20 are %20 never ever%20 even%20utilized. & text= These %20 little%20 portion%20points%20add, gift%20 cards%20have%20 been%20 sold." rel=" noopener noreferrer" target=" _ blank" > according to The Hustle You can sell these cards for actual money on reseller websites. Are gift card exchange websites safe?

How gift card exchanges work

You can purchase or offer gift cards on gift card exchange websites, which act as brokers between purchasers and sellers.Basically, you publish a listing for the gift card you wish to sell, and as part of this listing you submit the card’s number and PIN, which is validated by the website. The real exchange is mainly digital, but it can consist of mailing physical cards, with the reseller functioning as the middle man.

You’ll never ever sell a present card for100%of its worth, nevertheless, as the broker takes a small percentage and buyers will expect some sort of discount rate( otherwise they ‘d just purchase gift cards directly from merchants). However while you lose some worth, you’re likewise getting cash that can be invested anywhere, not just in one shop. Plus, the loss in worth is much better than not utilizing it at all– if you haven’t utilized the card within180 days, you’re most likely to not redeem the card at all, according to a Paytronix report.

How much you can earn also depends upon the appeal of your gift card and how many are on the marketplace. A $100Amazon or Visa gift card will have more need, for example, than, state, a $ 100Arby’s present card. Expect to make in between50-92%of a card’s worth, depending on market need.

A word of caution

Avoid the temptation to sell your cards by yourself using eBay or Facebook, as it’s too simple to get scammed without a third-party broker. Instead, utilize just the most established gift card sites that provide customer support, like CardCash, GiftCash , andRaise. You can start with GiftCardGranny.com, which is an aggregator that compares offers from other reseller sites.

However, even these larger websites must be approached with a little care, as they often get Better Business Bureau( BBB) complaints about card rejections at sellers, as well as delays in getting cards and payment.

Last December, the BBB released an alert about the popular resellerCardpool, which currently has an” F” score due to the volume of complaints. That does not mean that all the other sites are the very same, or that they don’t provide support or react to grievances– it’s just something to bear in mind (personally, I ‘d be comfortable purchasing a gift card off one of these websites, but I ‘d likewise try to use it right away).

BBB uses these tips when thinking about using a gift card reseller:

  • Utilize the present cards rapidly. This is particularly important during COVID -19 with a bigger number of companies closing their doors. When a store fails, their gift cards do, too. < a data-ga="[["Embedded Url","External link","https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fu7061146.ct.sendgrid.net%2Fls%2Fclick%3Fupn%3D4tNED-2FM8iDZJQyQ53jATUcu4UTTJ3yEfSKAY-2BnohCC-2FUr51WQ7sAamg-2FZZb6A4dFnm0PZHRv8V3U-2FAdWoH4x2sA3kTe0te2A7eJOUnCWPrctN5HBBTpRB0qRHpKSabeMngJg_lmjIG8dZtjV4gdueTwIOVp-2Fhb3LSkyyUepWXlMOzpUJnnjCpu8pOuEcP4Pr-2BhQl-2FIPP2HRUVJF6l4JNa3ufwOBGYBJ-2Bji9WXyt2wkG5i2hKUbuR7VYbQAhgi-2Fvb6y5na-2BLrXnKcUtFyecC2dlJK7nRD2vv-2F1sc-2B4UYHrhQdW-2BBndU-2Bl0fgSuS2VWpOxZ8xpJxRfHaFi4M1adiYcw0sFRJNTmSjb4lCF8nzZWfkOz-2B-2F-2BrsnMdNh5Y1Dyn1t3NdvVfiBK5gaCYWj9zI11uWMxfY59UxMIpmhlk3-2BlYy0gwKFZMZ8TliQuzyS-2BAmxGBZkh1fdSf7NakAefa-2Fhmr8iNmv2U7ddPU4wyf7E3vzP6EOr4-3D&data=04%7C01%7CMBelcher%40tristatehomepage.com%7C40f83f537d5e45748ef408d8ad008d95%7C9e5488e2e83844f6886cc7608242767e%7C0%7C0%7C637449565169930879%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=iQ1iWPOsfSGVb4heJlv8O3zZSK1NuD8fXRTVddKpGtM%3D&reserved=0",{"metric25":1}]] href=" https://nam11 safelinks.protection.outlook.com/?url=https://u7061146 ct.sendgrid.net/ls/click?upn=4tNED-2FM8iDZJQyQ53 jATUcu4UTTJ3yEfSKAY-2BnohCC-2FUr51 WQ7sAamg-2FZZb6A4dFnm0PZHRv8V3U-2FAdWoH4x2sA3kTe0te2A7eJOUnCWPrctN5HBBTpRB0qRHpKSabeMngJg_lmjIG8dZtjV4gdueTwIOVp-2Fhb3LSkyyUepWXlMOzpUJnnjCpu8pOuEcP4Pr-2BhQl-2FIPP2HRUVJF6l4JNa3ufwOBGYBJ-2Bji9WXyt2wkG5i2hKUbuR7VYbQAhgi-2Fvb6y5na-2BLrXnKcUtFyecC2dlJK7nRD2vv-2F1sc-2B4UYHrhQdW-2BBndU-2Bl0fgSuS2VWpOxZ8xpJxRfHaFi4M1adiYcw0sFRJNTmSjb4lCF8nzZWfkOz-2B-2F-2BrsnMdNh5Y1Dyn1t3NdvVfiBK5gaCYWj9zI11 uWMxfY59 UxMIpmhlk3-2BlYy0gwKFZMZ8TliQuzyS-2BAmxGBZkh1fdSf7NakAefa-2Fhmr8iNmv2U7ddPU4wyf7E3vzP6EOr4-3D & information =-LRB- |01|MBelcher%40 tristatehomepage.com|40 f83 f537 d5e45748 ef408 d8ad008 d95|9e5488 e2e83844 f6886 cc7608242767 e|0|0|637449565169930879|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|1000 & sdata= iQ1iWPOsfSGVb4heJlv8O3zZSK1NuD8fXRTVddKpGtM= & scheduled= 0" rel=" noopener noreferrer" target=" _ blank" > Find out more about what to do with your gift cards if a store goes out of business

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