Gift cards for the longest time had been a
popular choice of companies to give out to employees, and form friends and
family to give out during birthdays and gifts during Christmas or on any other
occasion. You may have had your own share of gift cards in the last year or may
have a number of gift cards stored around in the house or in drawers and desks.
The problem is, most of the time the gift
cards are not utilized either because the value is not enough to get us what we
want, or the store it is accepted at is far from your location, that making the
trip to use it will be more expensive than the value of the gift card.
The question is, what will we do with all
those gift cards? Will they be just gathering dust and then eventually get
destroyed and unusable or better yet, we can sell gift cards to make us some
What are Gift Cards and How Does It Work?
Gift cards work like gift certificates,
each card has a set value and one can use it to buy things or products in a
particular store or mall. It is a popular choice to be given as gifts during
Christmas or during birthdays since it is much convenient for the giver than
having to choose individual gifts, also it allows the recipient to choose their
When it is given as incentives or bonuses,
gift cards are not convertible to cash and it is nontaxable, so that the employee
could enjoy its full value in purchasing whatever they want with it.
Moreover, if the company purchases gift cards in bulk to give to their employees, they can get it in discounted prices and also save money in the process than just by giving a cash bonus to their employees. Gift cards do not have an expiry date, such that you can actually use it at a later date or keep them for larger item purchases.
Gift cards that are accepted from malls and
other retail shops are more often used as there are a lot of products to choose
from. However gift cards for specialty shops are often not used since the items
there are too expensive products or are only found in larger cities that will
not be worth to go to. Gift cards can be exchanged for goods and supplies from
the store it is supposed to be accepted within the set monetary value of the
gift card. If you have a group of gift cards, you can combine its value so you
could buy that expensive pair of jeans or that food processor you had been
eyeing for the longest.
More often than not, everyone has a bunch
of gift cards that remains to be unused and gathering dust. The next best thing
to do with it is to sell gift cards online!
How to Sell Gift Cards
There are a number of websites that offer
to buy your old gift cards. You can choose which one would offer you the best
price for the value of your gift cards. Some websites allow you to input in the
serial number of your gift card and it will automatically verify if the gift
card does exist and for how much it was worth. The website then proceeds to
give you an estimate of how much they are willing to pay for the gift cards and
once you agree to it, you will then receive an email with the details of how to
get paid. In a matter of three days, you will be able to receive the payment
notice on your email.
Online companies that buy gift cards will
have you input your gift card value and will then come up with an offer for the amount
they are willing to pay for it, usually the price they would give you depends
on the value of your gift card and where it can be accepted. Rare and hard to
come by gift cards and those with higher value will get you higher amounts. So
before you decide which company to sell gift cards to, you have to make sure
that the offered price is something that you are agreeable with. You should try
looking for other companies and evaluate how much they are willing to pay for
it, choose one that has the best offer.
You should choose an online company that
will communicate with you at a more personal level, and not just have automated
chat bots that can be irritating at times. Having a live customer representative with
whom you can talk to in case, you have concerns or questions regarding your
transactions, and someone to get back to if you have encounter difficulties in the
payout from the sale of the gift cards.
Concluding it all…..
If you are falling of hard times and you need something to help you with your checkbook, the best bet is to dig up all your old gift cards and sell them to websites who offer higher values. If for example you do not have enough gift cards on you to prevent you from becoming penniless, you can always ask family and friends to give you their old gift cards. If you can survive without taking out a loan or asking family and friends for a loan, you could just ask for their old gift cards, very surely, they would happily give it to you.
It can also be turned into a good business
venture whereby you can buy and sell old gift cards. You can go around your
family, friends, co-workers, and neighbors and then offer to buy their old gift
cards for a lesser amount, believe it, they would even be happy to just give it
away. After gathering enough gift cards from your area or locality, you can sell
the gift cards online and enjoy its profit.
About Author: Chris Fraser
Chris has served as a business advisor to a big list of small and micro businesses; localized businesses and social enterprise in particular. Chris is also an avid reader and loves to stay updated about latest tech and innovation.