Getting cash for gift cards is sometimes the best way to really get the most out of them. For example, you might get one for Christmas, for a store that you never shop at. What good is it if you can't convert it into a product that you enjoy? Therefore, getting cash for gift cards online has become extremely popular, and it creates a win-win situation for both parties involved in the transaction.
How is Getting Cash for Gift Cards a "Win-Win" Situation?Getting cash for gift cards creates a "win-win" situation because, as a seller, you're getting money that can be spent on anything. This is valuable if the gift card relates to a store that you don't shop at. The money you receive by selling it can obviously be used at any store or for any service.
On the other hand, in order to get cash for gift cards, you must sell them at somewhat of a discount. For example, you might only be able to get $45 in cash for a $50 Wal-Mart gift card. For you, the $45 might provide more value at another store compared to the $50 at Wal-Mart. However, a person who loves to shop at Wal-Mart will gladly exchange $45 cash for a gift card worth $50. Both parties involved in this transaction come out as winners.
How Can I Go About Getting Cash for Gift Cards?It's very simple. Go to http://www.ebay.com and first browse the listings for other people selling similar items. At the time of this writing, for example, there is a $50 iTunes gift card selling for $43 cash. If you look around a bit, you can get an idea of how much money you might expect to receive on eBay.
Once you're comfortable with the amount of money you can receive, simply create an eBay account and put up a listing for your item. You can read about the basics of selling an item on eBay here.
Is There Any Other Way to Get Cash for Gift Cards?Aside from eBay, there are other auction websites such as uBid.com. You can Google "online auction sites" for more potential options.
Aside from selling at an online auction, there's another little-known secret tactic for getting cash for gift cards that works at certain stores. The tactic is very simple: You purchase a product with your gift card and later return it for money or in exchange for a very inexpensive item. Some stores will give you actual money in return. Be aware that many stores will only give you store credit in return, so your results may vary.
As you can see, getting cash for gift cards is very easy to do. In certain situations where you don't shop at a certain store or simply would prefer actual money for another reason (such as you are behind on paying your bills or you want to save it for a "rainy day"), it's great to be able to get cash for gift cards.
Bonus tip: Instead of buying someone a gift, if you have a gift card you don't like but that someone else might like, you can simply re-gift it without needing to spend money. This has the same effect of getting cash for gift cards.