If you’ve never gone through the process to trade a gift card, you’re not alone. While few people realize the opportunity to swap unwanted gift cards for money or other cards exists, it can be a powerful way to get value from irrelevant presents, and more and more people are doing it.
Unfortunately, more people are also making mistakes as they do it, and it’s critical to go about it the right way if you’re going to pursue it. With this in mind, here are seven big mistakes not to make as you trade a gift card.
Trade a Gift Card the Right Way: Avoid These 7 Mistakes
When you trade a gift card, steer clear of these seven common pitfalls:
1. Expecting too much in return
While trading a gift card will allow you to make use of most of its face value, you will lose some of the value of the card in the process. Generally, you’ll be able to preserve most of the card’s value if you trade it in for a card from another vendor, rather than selling it straight across for cash. Keep in mind, however, that each merchant values cards differently, and you might want to shop around to find the best deal for your particular card.
No matter what you choose to do, be sure to keep your expectations realistic as you head into selling your gift card. This way, you’ll avoid disappointment and know exactly what to expect from the process.
2. Waiting too long to trade a gift card
While gift cards never expire, their value can change or decrease over time. Because of this, it’s smart to sell the gift card immediately after you receive it and decide you don’t want it. This will allow you to get the best possible value for the card, while also ensuring you don’t forget about it. Dozens of people have forgotten gift cards in their wallets, cabinets, and drawers.
While these cards might not take up much space in the house, they’re also not doing anyone any good. In light of this, getting rid of your gift card ASAP is a great way to get the most ROI and finish the process quickly and easily.
3. Choosing the wrong merchant
Again, different retailers value gift cards differently. While you may find that one merchant doesn’t want to offer you much money in return for your gift card, another may provide a much higher trade-in value. Before you commit to working with a merchant, be sure you do your research in advance.
This will help ensure you find a merchant who works with your gift card provider and is willing to offer high sales or trade-in value for your particular card.
4. Trading cards one-by-one rather than all at once
If you’ve just caught onto the idea of gift card trade, do a quick check around the house to see if you have other cards to trade, as well. If so, trade them all in at once rather than waiting and trading them in one-by-one.
While most merchants won’t allow you to batch-submit gift cards (even if they’re from the same vendor), consolidating all your gift cards and trading them in one fell swoop is a smart way to streamline the process and get your payment all at once!
5. Not trading gift cards
The worst mistake you can make with gift card trade is to not trade cards at all! Each year, millions of dollars in gift card funds go unused. While this money might benefit the stores selling gift cards, it doesn’t do anything for you or the person who purchased the gift card for you! Trade your gift cards if you won’t use them. It’s a simple process that only takes a few minutes to complete, and you’ll be back out enjoying your life in no time!
6. Thinking gift card trades are illegal
Some people have concerns about whether you’re allowed to trade gift cards. Of course, you are! Sites like EJ Gift Cards specialize in gift card trade, and taking the leap with one of these reputable merchants is a fantastic way to trade gift cards safely, securely, and quickly – no matter whether you’ve ever done it before or not.
7. Forgetting that you can sell cards, too
If trading cards isn’t your thing, consider selling them, instead. Gift card sales are quickly becoming an attractive option for getting rid of unwanted cards, and the cash you get in exchange can be used any way you want it to!
Trade a Gift Card Today
For more information on how to trade cards, or to start the simple process now, visit EJ Gift Cards. Your source for safe and reliable online gift card sales, EJ Gift Cards will help you swap your gift card in an instant.