You might have the best taste in clothing, or maybe you are someone who has it all. No matter the situation, even the best givers sometimes get it wrong. There are times when the gift card isn’t the right one.
What can you do if you have gift cards you don’t want? What if you have spent some of it and don’t know what to do with the rest?
There is no need for them to go to waste. Consider these options if you have received something you don’t think is the right fit or you have no more use for.
Exchanging Gift Cards for the Ones You Want
According to the board chair emeritus of the Retail Gift Card Association, Timm Walsh, gift givers aren’t going to let you down that much. But if it happens, you have a couple of options to help you with the card you don’t want.
There has been a rise in the popularity of gift exchange sites where you can swap out a gift card for something you like.
Consumers can sell and buy gift cards, even if they've already gotten some use. You can list your partially used or unwanted gift card or shop for a discounted card from another user. There are a lot of options when it comes to gift exchanges, and you can shop for discounted gift cards.
Exchanging, selling, and purchasing cards is very convenient, but it is important to research more on the site before you transact with them. For example, private sellers on sites like Craigslist may promise you a loaded card, but when you purchase it, you find that there is nothing or it is mostly used.
You should check out the post-purchase guarantee because it shows that the cards are legitimate. There are many cases of people getting refunded their purchase after they bought gift cards from the exchange sites and found out they didn’t work. You will get your refund in a few days, which should give you peace of mind when dealing with such sites.
Keeping The Change
Having a gift card can leave you stuck between a rock and a hard place. If you use the gift card, you can easily spend more than you planned. A survey by Blackhawk Network in 2018 found that 59% of consumers usually spend more than the gift card's value.
If you spend under the card amount, you will feel like the $2 has gone to waste.
Some states have a solution to this problem. Some states allow you to cash out the balance in hard cash. In California, if your gift certificate has a value that is less than $10, then you can redeem it for cash. This can include a check or currency for its cash value. Do a little research to determine whether your state has such a law. If your state has such a law and your gift certificate is under the threshold, you should ask the retailer for your balance. You can opt to use this gift card trading app.
Giving It Away
If you are not going to use the card and you don’t need that cash, you should consider giving it to someone else. You can donate it to a good cause or re-gift it.
Some nonprofits like Charity Choice will let you donate any restaurant or store gift cards to your choice of over 1,000 charities. You can directly contact the charity and see if they accept gift card donations.
Tips When Giving Out The Gift Cards
According to the National Retail Federation, gift cards are one of the most requested holiday gifts yearly.
You can avoid putting your loved ones in a difficult position by choosing their gift carefully. Choose a store they like.
- Take into account the financial situation of the retailer. The gift cards become useless if a business files for bankruptcy.
- Give the receiver the receipt so they can verify the purchase
- Read the fine print. Check out the fees and expiration dates
Finally, don’t forget that you have an unused gift card. While most cards don't lose value or expire, they aren't doing anyone any good sitting in a drawer collecting dust.
If you come across a gift card you want to retain, use it wisely.
This article was produced by Wealth of Geeks.