Sell or exchange
There’s no mystery when it comes to gift cards — you either like them or you don’t. if your plastic haul falls on the “don’t” side, there’s still hope for getting something out of them.
Monday, Dec. 26 is Gift Card Exchange Day — a one-day event created to raise consumer awareness about exchanging gift cards for cash.
Just enter the store name and gift card amount on giftcardexchangeday.com to receive instant bids from resellers wanting to purchase your card. Otherwise, check GiftCardGranny.com for best resell rates at any other time of the year.
Are there any upcoming birthdays or other special celebrations that you could use the unwanted gift card for? Your unwanted gift cards make quality presents at no cost — just make sure they don’t feature a season-specific design.
Gift card recipients typically spend 40% more than the card’s face value during their redemption trip, which indicates shoppers don’t spend as carefully as they would when using cash or a credit card.
not only should you plan out your purchase, but you should check for coupons to help stretch the value of your gift card. Sites like CouponSherpa.com offer online coupon codes, printable in-store coupons and mobile coupons for instant savings at the register.
most people don’t consider donating unwanted gift cards. But many organizations, such as Make-A-Wish Foundation, accept such donations.
if local charities don’t take them, use your card to buy items like food and clothing to donate instead. the added bonus: you’re guaranteed a tax deduction.
Make your gift card give back for years to come by investing its value. the investment site, GoalMine, will sell your cards and deposit the value into a FDIC-insured savings account or one of their mutual funds from now through the end of January.
if you decide to keep and use the gift card, make sure to get it registered. this way, should it get lost or stolen, you’ll be able to get the balance credited back on a new card.
if online registration is not available, call the issuers’ customer service department and provide the card’s unique account number and PIN. Otherwise, hold onto any receipts which declare the gift card value.
For more daily money advice and savings tips, follow Andrea Woroch on Twitter @AndreaWoroch, Facebook.com/Andrea Woroch or Andreaworoch.com.
Dollar Stretchers: How to get the most out of holiday gift cards
