The other option is to use a site like Plastic Jungle or Card Pool to sell the gift cards. Their cash out ratios aren’t as high as Ebay but they remove a lot of the risk and hassle. You can even do an egift code exchange and receive Paypal payment instantly(within 24 hours). With their mail in option, postage is free, and you are paid as soon as they receive the cards.
If the value of the card is $10 or less, you can request the cash value of the card. There is actually a law in California that states you are able to receive cash back when the value of the card is $10 or less. This applies to all gift cards, although many businesses may be unaware, or unwilling to follow this law. I’ve done it successfully at many large franchises like Starbucks, Target and Walmart but your results may vary.
Have you tried any of these tactics or do you like to spend the gift cards you get? What about re-gifting them?
Hi, I'm Harry, the owner and head writer for Your PF Pro. I started this site back in 2011 in order to create a place where young professionals could come and get all of their financial questions answered. On the site, you'll find articles on everything from asset allocation for retirement to saving money at Chipotle! So enjoy..