It’s likely that someone who reads this article has received a gift certificate this holiday season. What if it’s for a vendor, store or restaurant that the recipient rarely visits or doesn’t have anything to offer? Regifting is an option, as well as “purchasing” something that will not be used or simply letting it sit in the drawer. More people are now using websites to get rid of unwanted gift cards. Be aware of all the pros and con when you are selling, exchanging or buying resold gift cards.

Gift cards are still a popular gift. They can be purchased online and in stores 24 hours a day. The market is worth $127 billion and about $1 billion of cards are unused each year. Digital or egift cards, which can be sent in just minutes electronically, and new options for trading or reselling cards are the fastest growing areas.

The number of websites catering to this market has increased: Cardpool.com. Cardcash.com. Raise.com. GiftCardGranny.com. These sites offer greater security for buyers and sellers compared to Craig’s List and eBay. Users can exchange gift cards with other retailers and chains to get a better return than they would if they paid cash.

Consider these other factors:

Pros

You can sell or exchange gift cards for:

• Gift cards are sold for a fraction of the face value. Rates are determined by supply and demand. It is in the seller’s best interest to shop around and find the best price.
• Sites allow users to buy resold cards at a discounted price. This is a good way to purchase gift cards as gifts or for yourself. The types of cards offered will vary depending on what the store has recently purchased. If someone is planning to spend $100 in a store, but can get a gift card that’s worth the same amount for only $90, then they have already saved 10%! CardCash.com’s top sellers include Walmart, Target Home Depot, iTunes Macys eBay Starbucks AMC Theatres and Home Depot.
• The cards that were resold most by eztin.co in 2016 include big retailers, where everyone could easily find something to buy. Amazon, Target BestBuy and Macy’s are all on the list. Apple and Starbucks also make the list, but not all people like digital entertainment or coffee. They either chose the card that they wanted more or needed cash.
• Gift cards from reputable gift card resellers and exchanges are guaranteed to be genuine.

You can also find out more about Cons

There are many downsides to this.

• The biggest scam is to receive less than the value of the card. Some sites offer 80-90 cents per dollar for popular cards. Other sites only pay 50 percent face value. This may discourage some sellers but it is better to get something than put the card in a box and forget about it.
• Some cards can only be purchased (or exchanged) for 1 or 2 percent of the face value.
• Gift cards cannot be exchanged or sold for every type. The popularity of the retailer where it can be used will determine whether or not you are able to redeem the gift card. A large national chain, for example, is accepted by most, while a smaller or regional one might not.

Many people make New Year’s Resolutions to better their finances, save money, or reduce clutter. Despite the cons, using sites to exchange, buy or sell gift cards is a good step in the right directions.