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How to Exchange Gift Cards for Cash

November 2, 2017

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How Gift Cards Are a Good Source of Cash

December 23, 2017


Christmas is a time for giving. When you don’t know the recipient well enough, it’s not a terrible idea to give them a gift card. Gift card giving is also great for someone you know who already has everything. The trouble with gift cards is that the recipient may not have any use for it. There are lots of reasons for that. Maybe the store doesn’t have anything they want, they don’t like the food at the restaurant you chose, or they don’t have time to take advantage of the gift card. Fortunately, gift cards can be a great source of cash.


How It Works


There are many companies that make a business of buying and reselling gift cards. The value of the gift card is discounted for both processes. They buy the gift card for much less than its face value. This is great for the buyer, because now they have cash then can use anywhere. The company then turns around and sells the gift card for more than they bought it for, but still less than the face value of the gift card. The difference is their profit.

If you think about it, this is much better than letting a gift card you don’t need expire. That happens more often than you think. In fact, there is a reason why most gift cards have expiration dates far into the future. It basically allows you to forget about them, because you have so much time to do something with them.

How You Can Take Advantage


If your cousin twice-removed gave you a gift card to a cute clothing boutique you’ll never set foot in, you can sell that card for cash instead. It’s best to do this now while you’re thinking about it. A gift that expires soon may be worth less, because it has to be used right away. Of course, you could still hunt around and see if you have gift cards from other occasions, such as your last birthday or even Christmas from two years ago. As long as the card is not expired, you can still sell it for cash.


One big advantage of gift cards is that the giver is often more comfortable giving you a gift card than parting with cash. That’s because cash can be considered an impersonal gift. As the recipient, you can still convert your gift cards to cash if you want, and the giver never needs to know. When you sell gift cards for cash in store in Somerville, NJ, you can buy the Christmas present you really wanted for yourself.



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