Few of us finish the vacation season with out a stack of reward playing cards. Inevitably, we find yourself with a couple of we are able to’t use or don’t need.
Perhaps your boss gave you Starbucks reward card, however you aren’t a espresso drinker?
Or your Aunt Rita gave you a present card to Dillard’s, however the closest one is 50 miles from your home?
There isn’t a cause for the well-intentioned reward to go to waste. You’ll be able to all the time promote these undesirable reward playing cards for money.
Tricks to Promote Reward Playing cards for Money
There are many locations to promote your reward playing cards. Most are on-line, and every web site is somewhat totally different. Some will let customers bid in your reward playing cards, whereas others will buy your reward card and promote it themselves. Under are issues to bear in mind as you discover a new house for that undesirable current.
Contemplate the Different Methods to Get Paid
Relying on the service you select, you possibly can obtain a verify within the mail, a Paypal fee or a extra helpful reward card.
Paypal is likely to be a fast type of fee, however take into account these pesky charges if you wish to maximize your payout. Checks could take somewhat longer to mail out, however they’re principally chilly, onerous money. And relying in your spending habits, one other reward card is likely to be your best option, because the conversion fee goes to be the best.
Every choice has its personal perks, so select whichever most closely fits your wants.
There may be, nevertheless, one notable exception that you simply most likely ought to keep away from in the case of reward playing cards: eBay.
Don’t Promote Reward Playing cards on eBay
Ebay has all the time been a well-liked place for getting and promoting issues on-line — nevertheless it is likely to be the worst approach to promote reward playing cards.
To begin with, an eBay purchaser isn’t probably to purchase your reward card for greater than 80% to 90% of its worth. For a $100 reward card, you possibly can rely on a lack of between $10 and $20.
On high of that, you might be accountable for eBay’s insertion charges, a last worth payment and a efficiency payment in case your eBay vendor account isn’t in good condition. Once more, for those who’re utilizing Paypal, count on a further 2.9% payment. Yuck!
Instantly, your $100 reward card is just value $70.
A greater approach is to make use of a web-based reward card trade website. They’ll buy your reward card for 90% or extra of its worth and resell it for you.
Listed here are the highest websites that put probably the most cash in your pocket.
5 Greatest Web sites to Promote Reward Playing cards
To get a quote in your reward card, all you have to do is enter the model and steadiness. On most of those websites, there’s an choice to enter the reward card quantity to promote it and obtain fee electronically — no must mail something.
Charges will range relying on the service and the model, so I believed it might be enjoyable to see which might provide me the very best value for my reward playing cards.
To conduct my experiment, I picked 4 main on-line reward card patrons and requested for quotes on three totally different reward playing cards. I wished to see what they’d provide for $25 reward playing cards from Starbucks, Banana Republic and Goal.
Listed here are the outcomes:
$25 Banana Republic
$20.01 Amazon reward card; $18.88 money
$18.55 Amazon reward card; $17.50 money
$21.46 Amazon reward card; $21 money
When you’re an Amazon lover, Card Pool is likely to be your best option. Cashwise, there was no clear winner because the buyout relied on demand for the reward card, which throughout the board appears to be in Goal’s favor.
Reward Playing cards Nonetheless Want a House? Public sale ’Em Off on Elevate
The reward card trade website Elevate has all the time been considered one of my favourite locations to promote my undesirable reward playing cards as a result of I get to set the worth. Nevertheless, as with eBay, you don’t receives a commission till the reward card sells.
Nonetheless, I like a couple of issues about Elevate over instantly promoting my card to a website.
On Elevate, you possibly can record a card with out paying up-front charges, so there’s no danger.
You’ll be able to promote any reward card or retailer credit score — new or partially used. Most playing cards promote inside 24 hours, and Elevate takes 15% of the promoting value.
As with all product, the extra demand, the extra you possibly can ask for it. Reward playing cards for main retailers — Walmart, Goal, Greatest Purchase — are likely to promote on for 95% of their worth.
You additionally preserve management over your itemizing. In case your card doesn’t promote within the first couple of days, you possibly can all the time modify the worth to draw extra patrons. Or you possibly can unlist it for those who change your thoughts.
When you do determine to promote a present card this vacation season, store round and discover the very best provide. Test with two or three corporations earlier than handing over your reward card.
And keep in mind, you should buy low cost reward playing cards on all these websites, too. Preserve them in thoughts whenever you want a present subsequent vacation season.
Adam Hardy contributed reporting for this text. He’s an editorial assistant for The Penny Hoarder’s Make Cash group. You’ll be able to learn his full bio right here or say hello on Twitter, @hardyjournalism.
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