It’s time to unload all those gift cards taking space in your wallet and laying dormant in your drawers. As people continue looking to make money off their no longer used cards, websites have popped up as marketplaces for people to buy and sell gift cards.
With even the U.S. post office getting in the action, its clear to see gift cards are omnipresent. If you type “buy and sell gift cards” into google, a whole slew of websites will show up, and we wanted to see which websites would get you the best deal, on both sides of the card. We looked into Plasticjungle.com, Cardpool.com and Monstergiftcard.com.
PlasticJungle.com does not act as a place for trading, nor does it require interaction with anyone but the company, meaning the company will buy your cards before they find a seller. Here is how it works:
When you enter the merchant who issued the gift card and the balance on the card, they will make you a cash offer for your gift card along with alternatives like receiving the money into your PayPal account or an Amazon.com gift card, which usually carries the greatest value. They offered $42.50 in cash or a $44.63 Amazon.com gift card for a $50 Best Buy card and $40.50 in cash or a $42.53 Amazon.com gift card for a $50 Macy’s card.
After you choose one of the payment options, print out the free shipping label and mail them your card where they will verify its authenticity and pay you within one to two business days.
To buy, the $50 Best Buy card cost $47.50 and there were no Macy’s cards in stock. However, Plastic Jungle gives you the option to set an alert to notify you when the cards come back in so you can take advantage right away.
CardPool.com created a similar marketplace to Plastic Jungle with the option to buy and sell gift cards and get notifications when your out-of-stock card is back in. You buy and sell directly from Card Pool and they verify the authenticity of the card before payment. In fact, they even offered the same prices for the $50 Best Buy and Macy’s card, respectively.
There was a small price differential between Card Pool and Plastic Jungle as the former only offered a four percent discount (as opposed Plastic Jungle’s five percent) for the Best Buy gift cards, but they were also out of stock for Macy’s gift cards. Even the website layouts were similar as were their categories, current inventory, and accepted merchants.
Monster Gift Card
MonsterGiftCard.com is slightly different from the first two. The selling process is similar, but they offered $43 for the Best Buy card and only $40 for the Macy’s card. Simply click sell, and print out the shipping label. (They did not have a Best Buy or Macy’s card in stock to buy.)
The real innovation here is in their points system, which some people recommend avoiding because if the company closes you will lose the points you have accrued. However, they usually pay out more in points than in cash; they offered the same in points and cash for the Best Buy card, but the Macy’s card was worth 42.50 points.
Monster Gift Card also has a trading center which allows users to swap gift cards and further take advantage of the points system. If your gift card sells for points, Monster will notify you and bill you for the listing fee of $1.49 and 4.95% of the final sale price. If your gift card sells for cash, Monster will send you a check, minus fees.