More than $44 billion in gift cards have gone unredeemed since 2005, according to TowerGroup research.
CardHub – the marketplace that allows people to sell any gift card, regardless of denomination or store affiliation – has released its list of 5 Valuable Uses for Unwanted Gift Cards in order to help people make efficient use of their money as well as pay off some of the roughly $33.4 billion in new credit card debt added in 2013.
1. Sell Them for Cash: An online gift card exchange enables consumers to sell gift cards for cash and fetch up to 95 cents on the dollar in return. CardHub’s gift card exchange is the allows people to sell any gift card at any price without charging any fees. The ability to sell to individuals or respected gift card companies also increases the chance of finding a buyer.
2. Re-gift: The holiday season isn’t the only time people give gift cards. In fact, holiday sales only account for around a quarter of the gift card market’s annual sales. Most stores allow people to trade in old gift cards for new ones, so there is no need to worry about giving a card bearing outdated branding.
3. Pay Down Debt: The average household owes roughly $6,700 to credit card companies. And while starting to rack up debt at a slower pace, consumers still added more than $30 billion to the tab in 2013 and are on pace to do the same this year. Any extra money that can be allocated to building an emergency fund or paying down debt should therefore be welcomed, and you can sell unwanted gift cards for cash through a gift card exchange such as that offered by CardHub.
4. Swap Them: CardHub offers a gift card exchange that incorporates Facebook, thereby allowing consumers to simply swap gift cards with friends, neighbors or colleagues if they so choose.
5. Donate to charity: Charity organizations usually accept donations in a variety of forms, which may include gift cards.