Are you among the thousands of consumers who never use their gift cards? According to estimates by Tower Group and personal finance website CardHub, more than $45 billion in gift cards have gone unredeemed since 2005. However, if you want to unload unwanted gift cards, you have several options.
Card Hub just came out with a handy list of tips for using unwanted gift cards.
Sell your gift cards for cold, hard cash. An online gift card exchange can help you sell gift cards for cash and get up to 95 cents on the dollar in return. CardHub’s gift card exchange is the only one that allows you to sell any gift card at any price without the extra fees.
Re-gift. Even if you received a store card that you’re not even remotely interested in, it’s likely you have a friend or relative who might want it. Why not give your loved one that gift card this Christmas or for their birthday or some other special occasion? The best part is that you’ll save money while making someone else happy.
Reduce debt. Use the cash you receive from selling gift cards for cash to pay down debt. CardHub notes that this is a prudent idea in light of the fact that the average household owes more than $7,000 in credit card debt.
Swap gift cards. CardHub features the only gift card exchange that incorporates Facebook, which will allow you to exchange gift cards with your friends and family within your social network.
Be philanthropic. D id you know that you can donate a gift card directly to a charity? You can also use your gift cards to purchase items that you can then give to others.