Credit Cards

Cash for Gift Cards

Cash for Gift Cards

Gift-giving can be tricky, especially when you don't know the recipient very well. That is why many people buy gift cards instead of actual gifts. With a gift card, the recipient can choose her own present from a designated store. All in all, it's a great idea, but sometimes the gift-giver gets is really wrong. What do you do if you get a gift card for a store you don't like?

In the past, you could give the card to someone else. You could also take your chance on eBay or a site like Craigslist. Now there's an even easier way to swap a gift card or even sell it for cash. Sites like GiftCardRescue.com and PlasticJungle.com buy and sell gift cards from all major online and off-line retailers. Tell them the name of the store, the amount and the expiration date, and they'll give you a quote. Usually it'll be around 60-85% of the value of the card. If you're happy with the quote, send them the card, and they'll send you a check for the amount. You can also swap the gift card for a card from another store. Gift Card Rescue offer an extra 5% in redemption value if you take an Amazon gift card instead of money.

You can also use the sites to buy gift cards at a discount. The sites verify the value of each card so you know exactly what you're getting. For example, you can buy a $50 gift card to the Gap for $46, saving 8%.

If you're feeling charitable this holiday season, you can donate your unwanted gift cards to needy schools via sites like DonorsChoose.org. This is a great option if you have gift cards sitting around the house with random amounts of credit that you're unlikely to use. You can help out some students and get a tax deduction in return.

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