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Consumer

3-On Your Side: Getting The Most Out Of Unwanted Gift Cards

jim-donovan-web Jim Donovan
Jim Donovan is a 13-time Emmy Award-winning consumer reporter w...
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By Jim Donovan

PHILADELPHIA (CBS) – So did you receive any gift cards this holiday that you really didn’t want? Or maybe you have a handful of gift cards with small balances remaining and you don’t know what to do with them?

Well 3 On Your side consumer reporter Jim Donovan has you covered and tells us about ways you can make some money or snag a deal.

Busy mom Laura Heebner is always looking for a deal so when she found a way to unload some gift cards she jumped at the chance.

“I probably had 6 or 7 gift cards for a baby store and my kids are now getting older so I swapped them for something I could use for older children,” said Heebner.

Laura traded her gift cards on a website called CardCash.com.

“We buy all the gift cards that nobody really wants, and have no use for and we turn around sell them to people who want them,” said Liz Luke with CardCash.com

RELATED LINK: www.cardcash.com

“You have 45 days to go and use the card to make sure the balance is correct and that it works and everything, so there is a money back guarantee,” said Heebner.

When you do a trade, a 3 to 20 percent transaction fee is deducted depending on the popularity of the cards involved.

For example trading a $100 gift card could leave you with anywhere from an $80 to $97 dollar credit.

You can also get money back.

“Any range, you can send in a card for 5 cents, or you can send in a card for $2,000, $3,000 it doesn’t make a difference. Unlike other sites, we take every single card that you would send us. We don’t have a minimum, we don’t have a maximum,” said Luke.

In this case too the amount of money you get back varies based on the popularity of the cards you sell.

For example if you’re trying to unload a $10 Starbucks gift card right now, the site will give you $8.20.

While selling a more popular $10 target gift card will get you $9.20 back.

“Target definitely is one of our hottest sellers, Kohl’s is another one, there’s always a lot of orders for Macy’s, JC Penney, a lot of the department stores, Nordstrom,” said Luke.

After you mail in the cards the money is sent to you by check, electronic transfer or deposited in a Pay Pal account.

And if your just in the market to buy a gift card, you can save anywhere from 5 to 28 percent off the face value.

For Laura, the site has been more than just a one shot deal.

“It worked out great and I’ve been back a few times since,” said Heebner.

Card.Cash.com com accepts gift cards for most major national and even regional chains retailers and restaurants.

If you’ve are looking to unload a card and aren’t sure if they’ll accept them, you can always reach out to them.

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