More Trading and Selling Gift Cards for Cash
| March 15, 2010 |
Have you ever wondered what you could do with all of your unused gift cards? While spending them is the easiest approach, there are two other ways growing in popularity. Those ways are to either exchange your plastic for another that has a higher likelihood of getting used or simply sell it for cash.
When it comes to trading or getting cash for your gift card the idea is really nothing new. While in the past, there may have only been a couple of places that consumers could go and look to find a good deal, today there are literally thousands of websites that are available. As the numbers of sites continue to increase, cardholders are finding that there are great deals as a result of the growing competition in the gift card market. Now consumers can find many websites that are looking to pay top dollar (60 – 90%) for unused gift cards depending on a number of factors. In many cases those factors include the available balance amount, brand name that the gift card is associated with, and the time of the year (seasonal products).
While it may seem that the gift card selling or trading market would not needed, when looking at the numbers of gift cards that go unused one can see why this market is continuing to draw interest. Reports show that on average around $73 billion is spent using gift cards each year with an estimated $6.8 billion going unused. The amount that goes unused for a prolonged period of time in many cases are either reverted back to the retailer (where it is counted as revenue) or is collected by the state where the gift card was issued.
| Share | Tweet |
