Bankrate research estimates that more than two in five Americans own unredeemed gift cards worth an average of $244 each, making gift card donations an effective means to provide support for nonprofits. Depending on the card, cash payouts of up to 92% may be possible. Check out these creative ideas to turn old gift cards into money!

Regift

Thoughtfulness counts when it comes to gift cards – from homemade knit socks to bacon-flavored jellybeans. But what happens if the amount or value exceeds what can be spent? According to a 2024 Bankrate study, Americans currently hold on average $244 of unredeemed gift cards that go unused.

There are various methods for repurposing an unwanted gift card, from giving it away online or visiting a kiosk near major retailers (these often offer gift-card exchange programs), to selling it at auction for cash. While this won’t fully recover its full amount, it can help prevent the card from going to waste and saves it from ending up as clutter in your closet!

Reselling gift cards on resale websites may also be an option, although in most cases this approach only nets you up to 92% of their total value due to commission charges and other expenses associated with these websites.

Finally, gift card donations to charity are an impactful way of giving. By giving nonprofits flexible funding options for school supplies or shelter beds, your spare gift cards could have a major impact on local organizations in need. To see just how much of an impactful difference they could make to local groups near you visit our new Gift Card Donation Impact Calculator!

Donate

Gift cards make ideal presents because they give recipients flexibility while being simple for givers to present. Unfortunately, however, many remain unused; Bankrate recently reported that nearly half of Americans hold onto unusable cards worth $244 each! But don’t just let those cards sit unused – there are ways you can turn them into cash and other useful presents you’ll actually use!

Local food banks accept gift cards in good condition that haven’t been used, while nonprofit organizations like Gift Card Bank utilize them to supply essential goods to those in need. Resale sites like GCX and Raise Marketplace will purchase them for a fraction of their face value and pay you either through PayPal or direct deposit with no fees deducted.

If your gift cards have a balance that goes unused, consider giving it to St. Jude Children’s Research Hospital instead of spending it. Individual donations or pooling them together with friends and family members for larger contributions is encouraged! Your money will help raise childhood cancer survival rates — four out of five kids currently survive thanks to research conducted at St. Jude. Our gift card impact calculator shows just how much of an impact unused cards can make!

Convert to Cash

Rather than leaving that unwanted gift card lying around collecting dust, why not turn it into cash instead? Third-party gift card exchange and resale platforms like CardCash and Raise offer cash payments of up to 85% of value on cards sold through them; simply quote a price online and receive payment via PayPal, direct deposit or paper check. Alternatively you could also sell it at physical retail locations offering exchange kiosks like Photobooth machines, slot machines or DVD rental kiosks; though these usually pay less but offer convenience compared with listing it online platforms.

California and Rhode Island both have laws requiring retailers to cash out gift cards with balances under $10 for cash. Simply visit your retailer, present your card, and ask to have it redeemed; once used, if applicable, a receipt will be provided showing how much was spent.

Redemption rates provide retailers with valuable insights into gift card consumer behavior and can assist them in optimizing their strategies. According to GrabOn research, millennials typically hold onto an unredeemed gift card value–an average of $226 per card–due either to spending habits or an indifference towards using their cards; understanding these demographic-specific trends can help companies nudge customers towards redemption.

Use Online

Gift cards that go unused often remain sitting idly in wallets or drawers where they may easily get forgotten about. There could be many reasons for this; redemption in store could be difficult or the balance insufficient to redeem; alternatively they may simply become part of the fabric of everyday life and get left forgotten about over time.

There are various options available to people for extracting value from unwanted gift cards without just throwing them away, including:

Online gift card use can be an efficient and effective way to maximize its potential. Not only can this option help prevent overspending, but most websites and platforms will enable users to enter a gift card number during checkout; this will deduct your purchase amount from your gift card balance; any leftover funds can then be applied towards future transactions.

Another viable solution is selling or trading gift cards for cash through third-party marketplaces or gift card resale websites. Most often, you can recoup most of their value and even turn a profit – just be wary as certain sites may charge fees for this service!