Tuesday, March 5, 2013

Earn Quick Money: Selling Your Gift Cards

PERSPECTIVE: The quick money series on Telecommuting Millionaire? is to help you find funding so you can take your first steps to following your dreams.  After you read a few of my Quick Money articles, you will realize that Money is Everywhere. Don't use these quick money ideas, unless you understand that you are using these ideas  . . . not to pay off debt, not for extra salary, not for "fun money" . . . but as a stepping stone to financing the first steps of your dreams.  Dog-gone it, we are going to gain our financial freedom together! Read: Money is Everywhere to get the proper perspective.

 What do you know about Gift Cards?

  • Did you know that gift cards that are just laying around your house can create quick cash for you?
  • Did you know that the average household has about $250 of value in gift cards?
  • Did you also know that about $3 Billion (that's with a B folks) in gift cards go unredeemed in the United States (yes, just the US) each year?
So now you know that gift cards in the United States are "big business" and that you can capitalize on this opportunity and make quick cash.  I invite you to go through all the drawers in your house and collect all the gift cards laying around.  Then go to these websites and find out what your cards are worth.  Here are several reputable websites (companies) that pay cash for unwanted gift cards you may have. 

The best website of all is  and which goes through and compares all the major card buying/selling sites for the best deal on your card.  You definitely want to take your time and make sure you get the most for each of the cards you may have, after all we're trying to create more cash so we can realize our dreams, right?

Okay, before you go buck wild with your next website friends up there.  You should know a few things:

  1. Open a PayPal account to make payment easier and faster (many of the gift card exchange/sellers have the option to pay by PayPal.)
  2. Make a copy of your cards before you mail them out, in case it gets lost in the mail.
  3. Gift Cards are sometimes good for up to 5 years.
  4. Read everything (all policies and regulations) before you use any of these gift card exchanges/websites.  Make sure you understand how things work.  Some card sellers/exchanges don't send you money until someone else buys your credit card so it could take a while to money -- make sure you know if this is the case!)
  5. Be real, don't expect $50 for a $50 gift card.  Getting 70%-80% of the value of the card  (or $35-$40) is a good deal.  Take it!
  6. You may be able to get the best rate (more money) for your cards if you hold them until after December 25.  Late December to Late January is "high season" for card buying companies.

[UPDATE 1.14.14

Alula Kiosks
You can now trade gift cards for cash using a kiosk machine at your local grocery store.  Many are run by the same people that run CoinStar.  You know those machines that you dump all your "real money" into in exchange for "fake money" or paper money as we like to call it? 

The only problem with Alula machines, is that it has many limitations that you won't find using the online card exchanges I listed above.  (1) With Alula Machines you can only exchange cards over a $20 value.  (2) You need a credit card (they only accept Mastercard and Visa) and you need your state I.D. or driver's license.  (3) They don't accept all gift cards. (4) And you are limited to a number of times (they don't tell you how many) you can use Alula.

Big tip of the day:  If a store gives you credit for returning items, make sure they give it to you on plastic (what looks like a gift card).  This credit can be exchanged much like a gift card.  Credit on paper receipt is not good for exchanging and selling.

Better Your Community: Use this knowledge to help your child's classroom or school.  How much money could you raise to benefit your neighborhood school?  Have entire school participate in hunting down all it's families' unused gift cards and turn them in and then sell them to one of these exchanges!  You could probably raise enough money to take the entire school on a great field trip or something else just as wonderful!

You are now armed with powerful information, go change the world and your life!

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