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How to Redeem Unused Gift Cards to Make Extra Cash

By Edited Nov 13, 2013 0 0

Unused Gift Card

Many people are unaware of that they can be able to trade off their unused gift cards for cash. There are many websites today that can help you redeem unused gift cards and get cash especially when you are experiencing a cash crunch.

Introduction

If you feel your money is constantly running out before the end of the month and you see the need to figure out how to raise money easily at home, then you will find this article very helpful. In the paragraphs below, we explore various ways to redeem unused gift cards and raise that extra cash that you need.

The value of your unused gift cards

Selling Gift Card

Selling gift-cards online is becoming a flourishing business these days. For any person with a gift card that is not used or is used partially, this is an opportunity to make some cash. Estimates show that a middle class family could have up to $300 in unused gift cards. If all these cards were acquired from a single chain or store would only be a minor challenge. In States such as California, gift cards have no expiry date and cannot therefore lose their value with time. It’s like having checks that are un-cashed in your drawers. When seeking to redeem unused gift cards, you need to determine how much each individual card is worth first. If you are having a number of cards that are old having been around for some time, you may want to find out their real value first because chances are, they may have been used partly. To know the real value of a card, all you need to do is to call the number (too-free) at the printed on the back side of the card. You may key in a card’s number together with security code in the website of the company that issued the card to get details about the card. You will not be able to sell the card it its value is below $25.

Redeeming unused gift cards issued by banks

$10 gift card

Gift cards issued by banks can be real trouble when it comes to redeem unused gift cards irrespective of the fact that it is possible to use them in many businesses. Usually, the cards carry American Express, Visa or MasterCard imprints but their value declines with time, they attract certain fees and they can as well expire. With new regulations, circumstances have slightly changed for the better allowing gift cards issued after August 22nd, 2010 to be valid for five years with restrictions on the fee to be charged.  In accordance with the Californian State law, it is not possible to redeem these gift cards for cash; those retailing may only redeem the if the value of the card is less than ten dollars or is exactly ten dollars.

Selling your gift cards online

Make money out of gift cards

There are many places online where you can sell your unused gift cards. In some sites, you can cash up to 92 percent of your gift card’s verifiable balance. You may also be able to exchange partially used or unredeemed gift cards for purchasing ability on online stores such as Amazon.com. For those wishing to give for a good course, you may donate your unused gift cards to your preferred non-profit organization as a way of benefiting society. Plastic jungle is one of the many sites where you can redeem unused gift cards. The site guarantees transactions and pays shipping costs. If you want to sell, log onto plasticjungle.com and slick on sell gift cards link to begin selling your unused gift cards.  You will need to provide the name of the merchant that issued you the gift card as well as the remaining value of the card, if partially used or the full card value if it is completely unused. Do not worry if you are unable to establish the exact value; just put an estimate and the store will verify the card’s real value. Once you have entered this information, your card appears on the Gift Cards’ (own tab) on the website.  By clicking on the ‘see offers’ button, you are able to make a cash offer or price for your gift card. The site provides alternative with greater values such as the option to get a gift card from Amazon.com in exchange of your gift card. The website will prompt you to create an account then you will be able to provide plastic jungle with the gift card PIN and number, found at the back side of the gift card. Before completing the transaction, the site will allow you the opportunity to give part or all the sale proceeds from your card to a charity of your choice. Upon completion of the transaction, the company provides you with a prepaid shipping label to facilitate your mailing of the card. Once the gift card is received, the company verifies its value and makes payment within 2 business days.

What you should about redeeming unused gift cards with Plastic Jungle

Plastic Jungle

Plastic jungle accepts as many gift cards as possible but there are some gift card brands that the company does not accept. The reason for this is that the company is not able to verify efficiently the balances of cards from those brands. So, before offering your card for redemption, check with this store to see whether the brand you have would be accepted. Also note that the online store not accepts cards whose balances are not less than $25 and not more than $ 9500. Because the store covers shipping costs from sellers and to buyers, accepting cards with values of less than $25 would not allow it to offer reasonable discounts to clients. For security reasons, the store is not able to purchase cards whose balance exceeds $9500. 

Summary

Gift card reselling market is certainly doing good business. If you have some gift cards, don’t let them expire or lose value, now you know how you can redeem unused gift cards for cash.


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