What to do with gift cards you won't use
As much as 25 per cent of the billions spent on gift cards this year in Canada is expected to go unredeemed.
Got a new card you simply won’t use or a few gathering dust in a drawer? By far, the best way to get full value for them is to swap with a friend or a family member who can put them to good use. But the word might get out and then what do you do?
You can always go the Craigslist or Kijiji route, of course, meeting lots of interesting low-ballers in your driveway. But that can be a real hassle.
That’s why a secondary gift card industry has cropped up online to turn the cards into cash or dollars for stores where you actually shop.
Sites like Plastic Jungle, Cardpool, and Swapagift will give you up to 90 per cent back (the more popular store, the higher return on the card) via PayPal. Unfortunately, none of these services are particularly Canada-friendly.
Locals may be better off turning to CardSwap, a peer-to-peer online market which buys and sells verified gift cards at discounted rates of 10 to 40 per cent, charging sellers six per cent of the sale price, with a minimum fee of $4.50.
Once buyers have paid, you must ship them your gift card. When they receive it, you'll be paid by cheque directly from CardSwap.
Giftah also converts Canadian gift cards into cash, but operates by buying unwanted cards at a discount from users and then listing them for sale at a smaller discount.
The way that it works is you mail them card, they verify the balance, and then they pay you by cheque or through Paypal.
Tell us: Are you a gift card hoarder? What have you done with cards that you couldn’t use?
By Gordon Powers, MSN Money
Posted by: Rosanne | Jan 5, 2022 12:04:58 PM
Give them to your favourite charity - they would be able to use them for clothing, food etc.
This, in my opinion is much better than the other - ie: craigslist, kiiji, etc.etc.
If we are leaving cards to collect dust let us give back to those who are less fortunate.
Posted by: Savings Accounts uk | Jan 6, 2022 4:28:07 AM
Hi this is is true that secondary card industries are developed day by day and this is very likely wat to greet your be loved. But some other way we have to greet someone.
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Posted by: Savings Accounts uk | Jan 6, 2022 4:29:18 AM
Hi this is is true that secondary card industries are developed day by day and this is very likely wat to greet your be loved. But some other way we have to greet someone.
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Posted by: Compare Savings Accounts | Jan 6, 2022 4:50:25 AM
Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in a bank or pension plan.Saving also includes reducing expenditures, such as recurring costs.
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Posted by: Steve | Jan 6, 2022 5:11:11 AM
If only, there was some place like Ebay, kijiji, gumtree or Craigs list in Canada where these could be sold.
Posted by: Ken | Jan 7, 2022 7:28:54 AM
Personally the gift card that I like to give to my kids is called cash. No fees, no fear about not using it and you don't often get a disappointed look when they see what it is. You can put it in a bank account or spend it. Seems that everybody takes it without too much ado.