Gift cards have become the default go-to gift giving option for many, especially at this time of year.
Occasionally, you may end up receiving cards for shops or restaurants that you don’t intend to visit.
Rather than let these sit in your wallet indefinitely or stashing away in a drawer and eventually forgetting about them, here are a few suggestions on what to do with your unwanted gift cards.
Sell your gift cards locally
List your gift cards for sale or trade on websites like Kijiji and various community classifieds sites or Facebook marketplaces.
Unfortunately because of the high level of scams being perpetuated with counterfeit or tampered gift cards, there is a degree of risk when buying from unknown third parties online.
If available, a site or group with an ultra-local focus such as your own neighbourhood may be a safer option.
If you are on the other end and are purchasing a card – meet the seller at the store/restaurant to have a staff member swipe the card to verify the balance prior to completing the sale.
Most importantly, examine the back of the card to ensure the covering on the PIN has not been scratched/exposed or otherwise tampered with.
Sell or swap your gift cards on a card exchange site
Another option for selling your unwanted gift cards would be to use a gift card buy & sell website like CardSwap.ca or GiftCash.
These sites will buy your gift card at a discount, with rates that vary, dependant on the specific card’s popularity. Take the cash or use towards other cards being sold on the site.
CardSwap.ca of Toronto has been in operation for over a decade and was featured on Dragon’s Den.
GiftCash was founded in Hamilton a few years ago and according to their site, also offers payment in cryptocurrency.
I have personally not used either site and can’t recommend one over the other – check reviews and conduct your own due-diligence.
Re-gift your unwanted gift cards
You could always re-gift the unwanted gift cards. Just remember who you got what from, especially if you are receiving numerous cards this holiday season.
Donate your unwanted gift cards
Donate your unwanted gift cards to a local charity. Donations of gift cards and gift certificates are eligible for tax reciepts.
Do you have additional tips or questions about anything in this post? Please leave a comment below.
