Stuck with a bunch of gift cards gathering dust? Fear not, the insightful article, “Maximizing Returns: Selling Unused Gift Cards on Online Platforms” has got you covered. This piece guides you through 11 key websites including giants like eBay, Facebook Marketplace, and emerging platforms such as ClipKard, and even options for the crypto-savvy. It essentially takes you on a tour through each platform's payout alternatives, their charges, along with the flexibility to set your own gift card prices. Plus, for those seeking the thrill of the chase, there's a selection of apps for earning points to redeem more gift cards. Lastly, FAQs are addressed for convenience, featuring advice from dealing in-person to locating gift card exchange booths. The article intricately maps out the path for transforming your idle gift cards into valuable returns.
Table of Contents
Understanding the Concept of Selling Unused Gift Cards Online
What it means to sell unused gift cards online
Selling unused gift cards online involves converting your unwanted or unused gift cards into cash or other redeemable rewards. It’s a practical way to utilize those gift cards that you may have lying around which you have no intention of using. You simply list your gift cards on a suitable platform and await a buyer.
How it works
Online platforms for selling gift cards usually have a simple process that involves creating an account and listing your gift cards for sale. You input the details of the gift card such as the brand, its value, and then set a price for it. When a buyer purchases your listing, you'll then provide the gift card details to them and receive your payout.
Benefits of selling unused gift cards online
There are several benefits of selling unused gift cards online. For one, it allows you to convert an unwanted item into cash or credit which you can use for more desirable purchases. It also helps reduce waste by ensuring that the gift cards get utilized instead of being tossed away when they could hold significant value for someone else.
Choosing the Right Platform
Factors to consider when choosing a platform
Choosing the right platform to sell your gift cards can depend on a number of things. These may include the reputation of the platform, ease of use, the range of gift cards they accept, and how they handle payment and delivery of the gift cards to buyers.
Differentiating between free and paid platforms
Some platforms offer free listing of your gift cards, whereas others might charge a service fee for every successful transaction. Free platforms might be ideal for those looking for a no-cost method of selling gift cards, while paid platforms might offer additional benefits such as a dedicated customer support team or fast and secure transactions.
Comparing payout options
Different online platforms offer different payout options. These could include PayPal, checks, direct deposit, Skrill, and even Cryptocurrency. It's essential to take note of the payout options before deciding on a platform, choose one that best aligns with your preferred method of receiving payment.
Understanding Various Online Platforms
This article suggests 11 online platforms to sell your unused gift cards. These include CardCash, eBay, Gameflip, Raise, Facebook Marketplace, CardSell, Craigslist, GiftCash, Card Swap, ClipKard, and Gift Card Outlets. Each platform is unique in its way and caters to different user preferences and requirements.
Overview of CardCash
CardCash allows you to sell your gift cards for cash or trade them for other gift cards of your choice. This platform is handy if you have a gift card for a shop that you do not frequent and would instead like a gift card for a business which you typically patronize.
The mechanics of eBay
eBay lets you auction your gift cards to the highest bidder or sell at a fixed price. It has a broad audience, so there are higher chances of your gift cards getting sold. However, there's also a buyer’s premium that you'll need to pay when your card gets sold.
Getting to know Gameflip
Gameflip specializes in digital gift cards, especially for gaming platforms. This makes it a great platform for selling unwanted game store credit or game-themed gift cards.
Raise and what it offers
Raise allows you to list gift cards at your preferred pricing. You're also able to adjust the price at any time in response to the market demand. This makes it an appealing option for sellers seeking maximum control over their selling prices.
Features of Facebook Marketplace
A free-to-use platform, Facebook Marketplace is useful for selling gift cards to a local audience. While it doesn't offer the same protections as other gift card marketplaces, it can be a good option for quick, in-person sales.
Understanding CardSell
CardSell is simple: you list your card, and when a buyer purchases it, you upload the details of the gift card for them to redeem, and you receive your payout.
Introduction to Craigslist
Craigslist is another option for those who prefer to handle sales in-person. While the site doesn't have guarantees against fraud like more specialized selling platforms might, it does offer the potential for quick sales without the need for shipping.
A look at GiftCash
GiftCash is a platform that operates similarly to CardCash, providing straightforward transactions for a wide variety of gift cards.
Exploring Card Swap
CardSwap is a Canadian-based platform that pays you for gift cards in cash or points that can be redeemed for other gift cards on the site.
Knowing ClipKard
ClipKard is a platform that focuses on simplicity, allowing users to sell their gift cards for cash quickly and without hassle.
Benefits of Gift Card Outlets
Gift Card Outlets, like CardSwap, give points for gift cards which can be redeemed for various rewards or cash.
Setting Prices for Your Gift Cards
Factors to consider when setting a price
You should consider the demand for the brand, the value of the card, the platform fees, and the prices set by other sellers for similar gift cards to set your price.
Setting a fixed price vs auction
Fixed price selling ensures you get a minimum amount for your gift card, while auctioning may give you a higher amount, especially for high-demand cards.
Estimating the value of your gift card
You can check the average selling price of similar gift cards or use an online gift card exchange to get an estimate of its value. Remember that the retail value isn't necessarily the selling value of a gift card – buyers will expect a discount.
Selling Gift Cards In Person
Using Facebook Marketplace for in-person sales
Facebook Marketplace can be a fantastic tool for local, in-person sales. Just remember to meet in public, well-populated areas for safety.
Finding a gift card exchange kiosk
Many malls have gift card exchange kiosks. This could be viable for instant sales, though they usually do not give the best rates.
Security precautions for in-person sales
Take precautions to ensure safety in in-person sales. It's essential to meet in a public location and verify the transaction before handing over the card.
Earning Free Gift Cards
How to earn free gift cards online
Various platforms offer free gift cards in return for completing tasks like browsing, surveys, shopping, and more. Apps like Survey Junkie, Swagbucks, Branded Surveys, MyPoints, LifePoints, and Opinion Outpost can help you earn these rewards.
Review of Survey Junkie
Survey Junkie allows you to earn points by completing surveys. The points can be redeemed for cash or gift cards. It's an excellent way of turning spare time into rewards.
Insights on Swagbucks
Swagbucks offers multiple ways of earning points, from watching videos to online shopping. These, again, can be redeemed for gift cards or cash.
Understanding Branded Surveys
Like Survey Junkie, Branded Surveys rewards users with points for completing surveys, which can then be used for cash or gift cards.
Introduction to MyPoints
MyPoints rewards users with points for shopping at particular online stores. These points can be exchanged for a wide range of gift cards.
Knowing LifePoints
LifePoints is another survey-based platform that gives gift cards as rewards to users. It's another solid option to turn idle time into beneficial gains.
Overview on Opinion Outpost
Opinion Outpost differs slightly from the other as it offers entries into cash draws in addition to the points-based system. This means that even if you don't get picked for paid surveys, you still have a chance of earning money or gift cards.
Navigating Payout Options
Payout via PayPal
PayPal is one of the most popular payout methods. It’s convenient, globally accepted, and transactions are quite fast and secure.
Receiving payment by checks
While not as instant as digital payment modes, some people prefer receiving checks because of its simplicity. It’s a good option if you prefer or need a physical check or do not have a supported electronic payout option available.
Utilizing direct deposit
Direct deposit is another effortless way of receiving your payouts. Few online platforms use this method as it involves sharing bank details. Nevertheless, it removes the need for additional steps to transfer the funds to your bank account.
Receiving payout through Skrill
Skrill is another online platform like PayPal, but it is less popular. It is a good alternative if PayPal is not supported in your country or by the platform you are using.
Understanding Cryptocurrency payouts
Some platforms offer payouts in forms of cryptocurrencies like Bitcoin. This could be a useful option if you are interested in investing in cryptocurrencies and have a safe, secure crypto wallet setup.
Dealing with Service Fees
Understanding service fees
Service fees are percentages which platforms deduct for providing their services. The fees differ from platform to platform. Some platforms could also charge a listing fee in addition to a sales fee.
Choosing between free and paid platforms
Free platforms might seem attractive without service fees, but paid platforms with fees usually provide benefits like a larger customer base, dedicated support, and better security.
Calculating potential profit after service fees
To ensure you're making a profit, you have to factor in any potential service fees when setting your selling price. You can accomplish this by deducting the service fees from the set price to figure out your net profit.
Protecting Yourself when Selling Gift Cards
Safety measures when selling online
Use trusted platforms, follow their safety guidelines, and be cautious of any suspicious buyers or messages. If something sounds too good to be true, it very possibly could be.
Dealing with potential scams
Stay vigilant and avoid sharing sensitive personal information with buyers. Keep in mind the platform’s rules about communication and transactions.
Ensuring successful transactions
Always double-check your listing details, the payment confirmation, and ensure that any physical gift card has been dispatched securely and correctly. Following these steps can help to ensure all transactions run smoothly.
Frequently Asked Questions
In this section, we answer some of the common queries buyers and sellers may have about selling gift cards online.
Most common questions by users
Most users question the safety of selling gift cards online, fee structures, how to set prices, and about payout methods. Our guide has endeavored to answer these queries in the previous sections.
Answering doubts about pricing
Your gift card's pricing can be dependent on several factors like the demand and supply for that card on the platform, the remaining balance on the card, and also the platform's pricing rules and structure.
Addressing safety concerns
Selling gift cards online is increasingly safe with credible platforms, as long as one adheres to safety guidelines, stays vigilant, and only uses trusted platforms to sell.
