COLORADO SPRINGS — Gift cards were one of the hottest presents during the holiday season. Shoppers who were worried about visiting stores and not wanting to risk shipping delays snagged up gift cards. But what if you got a card to a store or restaurant where you'll never shop? News5 learned there are ways to turn it into cash.
The research says if you aren't that into your gift card there's a chance you may never even use it and if you don't used it within the first 180 days chances are you never will. So why not turn that gift card into cash?
Two of the most well known sites selling unwanted gift cards are Cardpool and Raise.
Cardpool buys cards directly from you for up to 92 percent of the original value. Cardpool can send you the money via direct deposit into your bank account or an e-gift card for Amazon or Walmart.
Another option is Raise. This website lets you list cards for free to sell on their marketplace and you get to set the price. If the card sells, Raise takes a 15 percent fee and then forwards the balance via check, Paypal funds, or direct deposit.
Remember, there is a lot of fraud with gift cards. So, it's important to use a reputable gift card exchange that offers a money-back guarantee. If you are trying to sell it yourself through Facebook marketplace or a site like Craigslist, just know there are no protections in place for you.
