Two Ways You Can Benefit From Unwanted Gifts That Have Big Cash Potential

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It’s that time of year when well-meaning loved ones resort to gift cards for holiday presents. Not only are you likely to get gift certificate for a store you don’t frequent, but so are a lot of other people — and that’s good for you. Here are two ways to benefit from the abundance of gift cards available online.

  1. Sell Unwanted Gift Cards – Let’s say Aunt Mary has gotten you a $50 Kohls gift card. It’s a generous gift, but you never shop at Kohls. You could re-gift it or stash it away in hopes you’ll eventually use it — or you could sell the card online for $40, resulting in cash for you and a discounted gift card for the buyer.
  2. Buy a Gift Card – Next time you head out to the mall or go shopping online, search for gift cards for your favorite retailers. Try an aggregate site such as Granny Gift Cards to see which sites have cards for the stores you want to shop. Then search for a coupon or sale for the same retailer. Let’s say you buy most of your work wardrobe at Ann Taylor. You find a gift card online with a face value of $210 that you can buy at Gift Card Castle for $166. You search for Ann Taylor promotions and find a 15 percent off sale in stores, for a total of 36 percent in savings.

Don’t be seduced into buying a card with a high face value to get a bigger discount. Choose a value that you know you’ll spend. Also check the fine print: some cards may be for in-store purchases only, for example.

Sites to Try:
GiftCardGranny.com – An aggregate site to search cards available at other sites.
Cardpool.com – Often the highest bidder if you’re selling a card.
plasticjungle.com – Has a good inventory of different retailer cards.
eBay – As usual, you can buy or sell pretty much anything at the auction site
GiftCardRescue.com – Heavy on chain restaurants, plus some clothing retailers and movie theaters.
ABCGiftCards.com – Includes high-end retailers, including Anthropologie and Tiffany.
GiftCardCastle – Features a variety of retailers.