Debunking Common Myths about Selling Gift Cards for Cash Online

Giving gift cards instead of traditional gifts is steadily increasing in popularity mainly because it is not only convenient for the giver, but it also provides the receiver with some control over what he/she receives. The goal is a win-win solution for both the gift card giver and the recipient. Unfortunately, statistics show that there is at least $1 billion worth of gift card credits that are left unused by consumers every year. 

If you have amassed several gift cards during the holidays and special occasions, and have no intention of using them at all, you should find other means not put them to waste. One of the best options would be to sell gift cards for cash. 

Perhaps you have heard of this strategy before, but you generally have a negative impression because what you learned are misconceptions instead of facts. To help you appreciate what exchanging gift cards for cash truly means, consider the truths behind some of the following myths about this transaction:

Myth 1: Selling Unused Gift Cards Means You Do Not Value the Giver.

Before you believe this misconception, think about the intention of your loved ones when they gave you the gift cards. They want you to use and enjoy them. When you sell the gift cards that you have no intention of using so that you can buy what you want, you are indirectly fulfilling the intent of the giver. 

Think about it. Are you more grateful when you keep the gift cards in your drawer until they expire and then throw them eventually? Are you showing gratitude if you give them away instead of exchanging them for cash? Ultimately, it is more prudent to exchange unwanted gift cards for money since doing so will accomplish the purpose of the gift, which is making you happy.

Myth 2: You Will Most Likely Deal With Scammers If You Sell Gift Cards for Cash Online.

While there are fly-by-night companies that offer gift cards to cash exchange service, it is easy to find reputable ones. Keep in mind that fraudulent transactions are not exclusive to gift cards buying and selling but in practically all types of industries. You can consider these doable pointers to find a trustworthy company that provides gift cards exchange service:

  • Make sure that the Better Business Bureau accredits the company.
  • Read the terms and conditions carefully to verify if the company offers money-back guarantees.
  • Ask for referrals.
  • Read online reviews through Yelp search and similar platforms.

Myth 3: All Gift Card Exchange Websites Offer Resale Values That are Close to Nothing.

When you sell gift cards to gift card exchange companies, you only get a certain percentage of the value of the gift card instead of the full amount since this is how such businesses make a profit. Note, however, that the resale value is generally substantial, especially if you are selling widely-used and in-demand gift cards, such as Target and Walmart. Ultimately, whatever offer you receive for your gift cards is still much more compared to none, which is the value of the unused cards.

The myths above are just some of the negative and baseless rumors about exchanging cards for cash. Do not let them hold you back from enjoying unwanted gift cards. Find a reputable gift cards-for-cash website that offers considerable resale value, and you will surely make the most out of the gift cards you received.

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