Want to make the most money when you sell your gift cards? We put two leading online services that buy gift cards to the test — and there is a clear winner.
Are you looking for extra ways to bring money into your life at a time when a lot of Americans are struggling financially?
If you have gift cards sitting unused at home, you can actually turn them into cash by selling them on the secondary market.
Back in 2018, we first put CardCash and CardPool to the test for a number of retailer and restaurant gift card we were looking to resell. At that time, CardCash offered $126.21 for 10 gift cards. CardPool, meanwhile, offered $107.26 for the same lineup of cards.
Now in April 2020, we’ve reshopped with both sites. Unfortunately, most of the restaurants and retailers that we originally had cards for were no longer being accepted by CardCash and CardPool.
So while it was impossible to do a direct comparison with our original research, we substituted in other restaurants and retailers that were being bought by both sites for this update. Read on for the results of our test.
When you sell a gift card online, you typically have the option to get your money by check or have the value transferred (trade) to gift cards from other retailers. You may even be offered more value if you get your money on, say, an Amazon gift card.
But which site is best to use? Here’s what we found when selecting the cash option instead of the trade option…
All told, CardPool offered $397.76 on cards that had $520 in value.
Not bad, but could CardCash beat their offer?
Yes, the CardCash offer of $418.90 beats the CardPool offer by more than $20!
In the course of our research, we came across other websites for selling your gift cards, but there’s a reason why they didn’t make the cut for this article.
For example, Raise.com is one popular site. But unlike CardPool and CardCash, Raise makes you do a lot of legwork before they'll even give you a quote.
You have to enter your gift card serial number and PIN, along with your current balance. That’s a lot of typing when CardPool and CardCash only ask for your gift card’s balance before making you an offer!
Similarly, CardFlip.com requires you to create an account before you get a quote online for your gift cards.
Finally, we noted a lot of industry shakeups and consolidation since we last took a look at this space.
Sites like ABCGiftCard.com and PlasticJungle.com that we wrote about have been absorbed by CardCash. Other sites like GiftCardRescue.com went out of business or have been repurposed to focus on prepaid cards.
These days, it’s helpful to eke out whatever profits you can from stuff you have sitting around your home. Selling your gift cards online is a great way to do this.
As noted above, this is an industry that’s constantly shifting, with websites going in and out of business regularly. That’s why if you have gift cards you want to sell, our advice is to hop to it and get your quotes today!