Monday, May 9, 2022

How To Turn Gift Cards Into Cash

Why In The World Would I Want To Turn My Cash Into A Gift Card I Cant Pay My Bills With Amazon Credit

Money: 3 Ways to Turn Gift Cards Into Cold, Hard Cash

Well. There are actually a few different ways you can convert those credits back into cash.

#1. Use the gift cards/credits for Amazon to Amazon flips.

This is my personal favorite. I love using OAXRay and Tactical Arbitrage to find Amazon to Amazon flips. There is no better feeling then using the money I made from the Amazon Trade-In Program to make even more money!

#2. Buy all your shipping supplies from Amazon

This one is pretty much a no brainer if you are a seller on Amazon. You can easily order polybags, tape, scales, scotty peelers, etc for business purposes. Trading in for credits can actually save you 20%+ on a cost you are going to be paying already.

#3. Convert the cards and credits to Bitcoin using Purse.io

This is one that is new to me, but I have loved it thus far. Essentially what you do is sign up for an account and then you have the ability to buy a wishlist for someone in exchange for Bitcoin. They have an escrow program to ensure the transaction goes smoothly and conversion rates vary. You can learn more here.

#4. Buy Stuff for Friends/family and Get Cash in Exchange

I actually perform this method every week. My father-in-law shoots me a text message and asks me to order a given item. I hop onto Amazon and buy it and then he shoots me money via Chase Quick Pay. It is a nice and quick way to help those who dont have a Prime account and to get cash out of your Amazon gift cards and credit.

#5. Shop Using Amazon Payments

#7. Shop for yourself

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What Visa Gift Cards Can Be Used At An Atm

If you currently have a Visa gift card and want to know if you can use it directly at an ATM, the short answer is no. Because these types of gift cards are coded to be used in stores or at restaurants, you cant directly get money from an ATM from them.

You can, however, use some of the methods listed in this post such as selling the gift cards for cash on places such as Facebook Marketplace or Gift Card Granny.

Also Check: Check The Balance Of A Starbucks Card

Add Your Visa Gift Card To Venmo

Venmo is a PayPal owned mobilepayment service that allows you to transfer money with friends using a mobilephone.

This app allows users to add Visa gift card balances.

Unfortunately, sometimes the app may block your attempt to add a visa gift card as a fraud prevention measure.

But if it lets you do it then youcan transfer the fund to your bank account.

To do this you need to use theTransfer to Bank on the menu.

As is the case with PayPal, thistransaction can take a few working days before it hits your bank account.

How To Get Cash From A Gift Card

Turn gift card into cash

Gift cards have been the preferred present or gift of choice for nearly every occasion, including holidays, birthdays, Valentines Day and you get the point.

Gift cards seem to be the king of gifts when you dont know what to get that special someone.

But what if you dont get the right gift card?

That money shouldnt have to go to waste now, should it?

What if I were to tell you that you could get cash off of that gift card? Dont worry, this is perfectly legal and rather simple.

Also Check: How To Buy Games For Oculus Quest 2 Gift Card

Take Advantage Of Local Laws To Cash Out Small Balances

Depending on where you live, you may be able to convert your Amex gift cards to cash if the balances are small. Some states have laws that require retailers to convert remaining gift card balances to cash if the balance is under a certain amount. While these balance requirements are typically small and do vary by state to state, it can be worth checking, especially if you have multiple gift cards. Check the cash out requirements by locality here.

Go To A Gift Card Exchange Kiosk To Trade It In

One super easy way to convert Visa gift cards to cash is to find a Gift Card Exchange Kiosk. Theyre usually yellow and you can often find them in shopping malls and supermarkets.

All you have to do is enter your gift cards information into the kiosk, which will include things like the set of numbers on the front of the card.

Youll then be presented with a range of offers for you to decide which one you want. Once youve made your selection, youll be issued a voucher to take to the cashier to get your money.

Related: Coinstar Gift Card Exchange: A Way To Get Quick Cash?

Don’t Miss: Are There Oculus Gift Cards

Give Them Out To Friends Instead Of Cash Or Gifts

If you get a Visa gift card there is nothing to prevent you from passing it on to others too. After all it is not in anybodys name so legally anyone can use it.

For example, if one of your friends is celebrating a birthday you can give them your Visa gift card as a birthday gift. IIn this way you will avoid the hassle of going to shops trying to look for things to buy. This is especially cool for a person like me who hates shopping.

I like giving people Visa gift cards rather than actual gifts as they allow the receiver to buy the things they really want. During birthdays people end up receiving gifts of things they already have. I remember during my wedding we received all sorts of things such as plates that we really did not need. I wish people had given me Visa gift cards instead.

Another advantage of sending Visa gift cards is the cost of sending them is much less than sending a shoe for instance.

Trading Your Gift Card

How To Turn Gift Cards Into Cash Tutorial
  • 1Use a Coinstar Exchange kiosk. Coinstar Exchange kiosks are usually located towards the front of many large chain grocery stores. Simply swipe the gift card and you will receive an offer. The offer will typically be 60% to 85% of the gift cards balance. You can choose to accept or reject the offered amount. If you accept the offer, you will receive a voucher that you can redeem for cash at a cash register.XResearch source
  • A Coinstar Exchange Kiosk is different than a regular Coinstar machine that only exchanges coins for bills.
  • 2Go to a Gift Card Exchange kiosk to trade your card for cash. A Gift Card Exchange kiosk is usually bright yellow and located in a grocery store. Insert the card information into the kiosk and then choose to accept or reject the offer the kiosk gives you. If you accept the offer, you can choose between a voucher that can be taken to a cashier in exchange for cash or receive a Visa gift card.XResearch source
  • You can search online to see where the closest Gift Card Exchange kiosk is.
  • 3Trade your gift card for a different store. If you dont like the store your gift card is from, you can exchange it for a gift card to a store you like. You can do this online or at certain kiosks. For example, you can use a website like CardCash to exchange your gift card. Or, you can go to a store like Target and exchange your card for a Target gift card at a kiosk in the store.
  • Read Also: How To Check Starbucks Gift Card Balance Without Security Code

    How To Protect Against Getting Scammed

    Usually, its the people looking to buy a gift card at a discount who run the most risk of getting a bum deal, especially if theyre buying off community-based sites like Craigslist or Kijiji.

    A lot of times, a person will go into a store to check the balance of a card theyre about to buy off someone else and itll all check out. But if the card was purchased illegitimately with a stolen credit card, for instance, once the person whose card was stolen realizes they have unauthorized charges, theyll instruct the credit card company and any gift cards will be cancelled, Ho says.

    That gift card may have had a certain dollar amount on it just before you bought it, but it could be null when you go to use it.

    As a seller, you can also safeguard yourself from mailing your card to a non-reputable place by copying down the serial number and the PIN, says Justin Fritz, director of search marketing at Gift Card Granny. If you see the company is slow in responding or they claim they never received the card, you can report it lost or stolen using the information of the card and get a new one.

    If youre buying a gift card at a store, always make sure it hasnt been tampered with and the PIN hasnt been scratched. Most importantly, keep the receipt.

    Its always wise to keep the receipt as proof of purchase, even if youre gifting the card to someone else, Ho says. This way, you have proof in case the card is cloned or otherwise tampered with.

    Convert Your Visa Gift Card To Cash By Selling It To A Website

    There are plenty of websites that will pay cash for your Visa gift card. In addition to the ones mentioned above that have apps for this, there are also others like Gift Card Granny, CardCash and more.

    If your gift card is digital, then the process can be instantaneous. But even if you have a physical card, some of these sites will pay for your postage to send them the card, so you wont end up losing any money on that front.

    Like with the apps, the sites will take a fee based on a percentage of the balance of the card, so make sure you know just how much this is before agreeing to the sale.

    Also, it can be a good idea to do some searches for the site youre considering using, just to get the most up to date reviews on whether other people have had a good experience with them.

    Can I sell a Visa gift card to other people?

    You can definitely sell a Visa gift card to other people, but youre probably going to have to accept less money than the balance on the card to make it worth their while to buy it from you.

    Sites like eBay or Craigslist will work perfectly for these kinds of arrangements. Make sure you keep in mind shipping costs if youre selling a physical card and, as always on these kinds of sites, keep an eye out for any scams. If something sounds too good to be true, it probably is.

    Also Check: How To Buy Oculus Quest Games As A Gift

    Sell Your Visa Gift Card For Cash

    I hate these options out of most because you wont get 100% of your value, but with the right site, you could get up to 95% back. I would only consider this option if you dont have a PayPal/Venmo or you dont want to deal with the hassle of it.

    To sell your Visa gift card for cash online, its relatively easy. Just head to one of the many sites Im about to mention, ask for a quote and then follow the prompts if you want to sell it to them.

    In most cases, you can get your cash almost instant while some may have a 24-48 hour waiting period. You should know the terms before you sell them, however.

    If interested, here are some websites that buy Visa gift cards:

    Again, dont expect 100%. Instead, maybe 95% at most. For instance, I could get $22.50 for my $25 Visa gift card. You have to ask yourself if its worth it.

    TIP: If you dont want to sell your Visa gift card, you can trade them on these platforms, too!

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    3 Ways to Turn Gift Cards Into Cash

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    Recommended Reading: Does Oculus Quest Have Gift Cards

    Where Can You Use Your American Express Gift Cards

    The easiest way to get the full value for your gift is to use it for purchases. These gift cards can typically be used at most in store and online retailers and are accepted anywhere American Express is accepted in the United States and the District of Columbia. American Express gift cards cannot be used for recurring billing or at ATMs.

    Your gift card may be declined if there are not available funds available on the gift card to cover your purchase, or a pre-authorization request. Some businesses such as gas stations pre-authorize a certain amount for those who pay at the pump. To avoid this and only have a hold for the amount you spend, pay inside the gas station where possible. To make sure you have enough on your gift card for purchases, keep track of your available balance having your card declined.

    How to Check Your American Express Gift Card BalanceBefore you use your AmEx gift card to make a purchase, or to convert to cash, you will need to know how much is on the card. To check the balance of your American Express Gift Card, visit balance.amexgiftcard.com and enter your Gift Cards Security Code, Expiration Date, and Card Number.

    How To Exchange Gift Cards For Cash

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    A gift card is an easy and thoughtful holiday present and especially great for the person who seemingly has everything but sometimes the card doesnt line up with your interests or tastes. And lets be honest, sometimes you just want the cash.

    You dont have to be stuck with a gift card that will sit in your wallet for a year, however, taunting you with its attractive dollar amount . Weve broken down the steps you can follow to redeem your unwanted gift cards for cash, and how to avoid potentially getting scammed in the process.

    Recommended Reading: How To Redeem Crunchyroll Gift Card

    Use It To Buy A Money Order

    Stores like Walmart as well as certain grocery stores will let you buy money orders using your Visa gift card. That said, the availability of this can vary, so check if this is an option in your area.

    But once youve done this, the money order can then be deposited into your bank account to be used as straight up cash.

    One thing you should keep in mind, however, is that some banks have had a habit of shutting down accounts if too many money orders are deposited. As such if you do choose to do this, perhaps combine it with some of the other options on this list.

    Avoid Redeeming Credit Card Rewards For Gift Cards

    How to turn unused gift cards into cash

    Theres one more thing you need to know about making money from gift cardsin most cases, redeeming credit card points, miles or cash back for gift cards isnt the best use of your hard-earned rewards. While you can redeem credit card rewards for gift cards, youll often get a lower value than you could have earned if youd redeemed your rewards for statement credits, travel bookings or online shopping.

    If you want to maximize your credit card rewards, its best to avoid turning your points, miles or cash into gift cards. Instead, take some time to learn which rewards redemption methods offer the biggest bang for your buck. If you have a Chase travel credit card, for example, your points are often worth more when you redeem them for travel through Chase Ultimate Rewardswhich means youre leaving money on the table if you redeem your Chase Ultimate Rewards points for gift cards.

    Also Check: Can You Use Cabela’s Gift Cards Online

    Give The Visa Gift Card Away As A Gift

    Another great way to convert Visa gift cards to cash is by giving them away as a gift. One of the great things about Visa gift cards is that they can serve as a cash gift. If you are attending a special occasion such as a birthday or baby shower, you can give a Visa gift card to the person.

    The person will be able to use the gift cards like cash to purchase the items of their choice. This is a great way to give someone a gift that is similar to money. Instead of giving someone something like cash in a card, you can simply put the Visa gift card in a special card and give it to them as a gift.

    Benefiting From Your Gift Card In Other Ways

  • 1Buy groceries with your gift card. Even if you dont receive physical cash, you can use rewards towards purchases. For example, you can use a Visa gift card or gift card to a grocery store, like Kroger, to buy groceries or other supplies. If the grocery store has a rewards program, you will gain point that can be put towards future purchases.
  • 2Use your gift card to get points for gas. Some gas stations and grocery stores with gas stations have rewards cards. Use your gift card when buying gas. You can then use your rewards points to buy gas in the future.
  • 3Use your gift card at a drugstore to get redeemable points. First, you will need to complete the free sign up for the rewards program at your local drugstore/pharmacy. Then, use your gift card from that store or Visa gift card to make purchases. For each purchase you make, you will receive points. The points can be redeemed for discounts or coupons.
  • 4Give your card as a gift. If you have an unused gift card that you dont want, give it to a friend who would appreciate it. For example, if you have card to a coffee shop but dont like coffee, gift it to a friend who is a coffee lover. Make sure that the card hasnt been used if you are giving it as a gift.XResearch source
  • If some of the balance has been used, you can tell the friend in advance and ask them if theyd like to use the rest of it.
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