Gift cards are one of the popular convenient gift ideas we turn to in trying to find that perfect gift for our friends and loved ones. In the same manner, gift cards are also one of the most preferred gifts for holidays, birthdays, or other special occasions.
While they may not be the best gift idea, a lot of shoppers buy gift cards as they are considered an ultimate present, i.e. recipients are technically free to pick the item that they truly want to have.
We are not in the 2100s. A gift card does not have to be for you necessarily. You can buy gift cards to distribute in a marketing or charity promotion and to reward employees if you use a gift card API system to facilitate this. If you happen to have a card and feel that you won’t use it within its validity period then you can give it to someone else who can possibly redeem it sooner. Regifting a gift card could mean you save money and your recipient will still feel as happy and pleased.
If the item’s worth is more than the gift card’s value, the recipient will just have to pay for the excess and it is still a lot sweeter than having to pay the whole amount.
However, the issue of inconvenience and disappointment comes in once we end up receiving a gift card that our local stores do not acknowledge or accept as this would mean we will not able to enjoy the gift card any sooner.
But guess what?
Facts to Remember Before You Decide to Buy Gift Cards…
- You are lucky if your gift card issuer is not strict as this means you need not spend your gift card all at once.
People who do not know about this on gift cards usually have that “use it or lose it” mentality and they should not be blamed for that. Nonetheless, a lot of countries are already trying to address the problem by requiring a mandatory validity period, i.e. in some states, the validity period can be up to five years from the date of gift card issuance. If you are a resident of at least one of those countries, you can legally spread out your gift card usage. In that case, you won’t definitely lose it.
- You can use it for someone else.
We are not in the 2100s. Your gift card does not have to be for you necessarily. If you happened to buy or receive one and yet you are not able to use it within its validity period for some valid reasons, you can opt not wasting it by giving it to someone else who can possibly redeem it sooner, as a gift. Or you can wait until the holidays to find someone who best deserves it. By that means, you will be saving money and your recipient will still feel as happy and pleased, she will find out the difference.
There are also many flexible options that allow you to spend when and where you want. Not sure how that works? Read about how to use an eftpos gift card.
- You can use coupons and promo codes with your gift cards.
In this digital age where the majority of the stores are already selling online, there is a high likelihood that your gift card will be acknowledged by a lot of online retailers. Hence, before you use your gift card, do not forget to check online for stores that can deliver the goods at your doorstep in exchange for your card.
There are stores, like wadav, that offer promo coupons and codes for gift card purchases. With them, you can enjoy even more out of your card and that is a good thing, right?
Buy and Then Sell Unused Gift Cards
Selling gift cards has been a common working solution for those who do not want their cards to put to waste; thanks to online channels like GiftCash which serve as an online market for gift card buyers and sellers. But before you head out to Google, at least ask your friends or family members first if they are interested in buying your gift cards. They should be your topmost priority.
If neither of your family members nor friends bite your offer, find a reliable gift card swapping website right away. Nowadays, there already is a wide number of website options that promise to do the job right; make sure to choose a reputable and reliable one. On that note, we are suggesting our top three choices for you:
- Gift Cash, where the buyer can decide the price that should be at least 93% of the card’s value, and the seller will just pick the best offer;
- Card Cash, where the site offers up to 92% return of the card’s value and also allows gift card trade; and,
- Card Pool, where the gift cards can be sold in exchange for cash or Amazon gift cards.
Now, once you have listed your final swapping website options, as much as possible, do not seal the deal right away. Instead, give some time comparing the pros and cons of using each site, including their applicable exchange rates. There are sites that offer a friendlier exchange rate for selected gift cards over others. For this reason, you should always select with comparative guidance before selling your card to a particular website.
In deciding, you can take suggestions from some online services. What these do is they pool the best deals in trying to present to you your best option.
Here’s a serious reminder…
Unless your gift card is expiring anytime sooner and you are trying to beat the time or you are in dire need of cash, never settle with unfavorable exchange rates. Do not fall for deals that will only make you lose more money. If the exchange rate stays noticeably unfavorable even after a while, consider exchanging gift cards with a friend instead just to ensure equal value to minimal loss. Here is where card exchange sites also come to the rescue.
Meanwhile, for personalized gift cards with your name written or engraved on them, there are only a few websites that accept them in exchange for money. Do note that there are risks concerning security and safety if you decide to sell them. Frauds and identity theft are still common. Hence, experts suggest than in such cases, it is best to keep them for yourself instead and wait until you can finally put them on use.
Sell Gift Cards as an Entrepreneur
With the existence of such gift card swapping sites, there is actually an opportunity to earn by buying gift cards from retail stores in bulk especially during seasons where they are priced at discounted value. Although the sites offer up to 93% cash-out, if the discounted value is still lower than the face value of the card, then that is still considered a considerable gain.
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