If you have a gift card you don’t want to use and aren’t sure what to do with, considering gift card trade-in may be a smart option. Designed to provide an ulterior avenue for people who received a gift card as a present, but won’t ever use it, but also don’t want to let it go to waste, gift card trade-in allows you to swap an unwanted gift card for one you would use – either to a more valuable retailer or simply to one that has a physical location in your area.
But what’s the difference between gift card trade-in and gift card sales? Learn more here.
Gift Card Trade-In
During a gift card trade-in, an online retailer evaluates the face value of your gift card and determines its trade-in value for another, comparable card. For example, you might have a $100 iTunes gift card, but, since you don’t use iTunes anymore, you want to trade it for a more versatile card.
In this case, you’d go to an online site, punch in the value of your card and its pin number, if applicable. You’d also select the merchant you’d like to purchase a gift card for. At this point, the online site would give you the trade-in value of your card, and make you an offer toward the secondary card. In a situation like this, you might get an $80 Amazon card in exchange for your $100 iTunes card.
Easy, completely legal, and completed in a matter of minutes, this approach is a fast and straightforward way to put an unwanted gift card to use by turning it into a gift card for another retailer.
Gift Card Sales
While gift card trade-in allows you to swap one gift card out for another, gift card sales take a gift card you don’t want or need and exchange it for cold, hard, cash. Typically, online vendors offer both options, although people have a favorite option that they choose time after time.
The decision of whether to trade or sell a gift card is entirely up to you. You should be aware, however, that there are some benefits and drawbacks of each approach. In most cases, the sale value of a card is a bit lower than the trade-in value, although this is typically a very minimal difference. What’s more, it may take a bit longer to receive a cash payout in some cases than it would be to get an e-credit toward another merchant.
Both these things are negligible, though, and the ultimate decision of whether to sell or trade your gift card comes down to how much you need the cash, and if there’s another retailer you’d rather do business with.
Which Approach Is Better?
Selling and trading gift cards are both very valid options, although one may be more ideal than the other depending on the situation. For example, if you’ve received a gift card to a merchant you don’t like, but there’s an item you’ve been lusting after from another merchant, trading the unwanted gift card for one to the merchant of your choice may be a smart move. In addition to the fact that you’ll likely get more of the card’s face value with this approach, you’ll also enjoy a faster turnaround time than you would have otherwise.
On the other hand, selling a gift card is a better idea if you received a card you won’t use and there’s nothing you want from other retailers. In this case, selling the gift card for cash can give you real money to put into a savings account, pay bills with, or put aside for a rainy day.
At the end of the day, both selling and trading gift cards are valuable options, and it comes down to you, the gift card holder, to decide which is right for your unique situation.
EJ Gift Cards: Your Source for Gift Card Trade-in
If you’re interested in trading your gift cards, you need a trusted partner to help you. At EJ Gift Cards, we specialize in gift card trade-in and we’re happy to walk you through the process step-by-step.
Unlike so many things, you don’t have to be an expert for a successful gift card trade-in – just hop onto our simple site and get the process started. Accessible, safe, and ideal for anyone struggling to determine what to do with an unwanted gift card, EJ Gift Cards is a fantastic way to get rid of your cards and get something valuable in exchange.
Visit our sales page today to learn more!