February 3, 2009

Trade In Unwanted Gift Cards For Cash...

That's right. You can exchange unwanted or unused gift cards for gift cards that you actually want or for just plain cash! For instance, you can redeem a gift card with an original value of $25 for $16.25 that can be sent directly into your Paypal account or exchanged for another gift card after mailing the card in. And yes, you do take a bit of a hit on the value, but if the card is for a store where you would never shop at anyway, well then why not just exchange it or take the cash and keep it moving? Find out more on how it works below:
via WSJ
Problem: You received a gift card for the holidays but don't ever shop at that store.

Solution: Trade it in. At Web sites such as GiftCardRescue.com, plasticjungle.com or MonsterGiftCard.com, you can swap your unwanted card for a different one or trade it in for cash. But depending on the service you use and the popularity of the card, you may receive only a portion of the card's value back. Typically a user must first create a free account and provide details of the card, such as merchant name, value and expiration date. Requirements and procedures vary by Web site. At GiftCardRescue.com, for instance, card values must be between $25 and $200. Once you enter the details of your gift card, the site will tell you the card's "redemption value," or how much it is willing to pay for the card; GiftCardRescue.com typically pays between 60% and 80% of the card's value. You can then choose to receive cash via PayPal or select a new gift card from the site. Finally, you mail your gift card to GiftCardRescue.com. You should get your new gift card or the cash within 48 hours after the site receives your card.

Caveat: Watch out for additional fees for commission and shipping. PlasticJungle.com deducts a 10% commission from your payments when you sell or trade your card. Pay close attention to expiration dates and dormancy fees for not using the card within a certain period.

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