FAQs about gift cards
- What if I don’t need anything from the store where I have a gift card?
Perhaps you’re the recipient of a regifted or random gift card to a store where you don’t shop. This could be a good time to buy a gift for a friend or family member and hang onto it until the next special occasion.You may not find gear for your next hobby at Bass Pro Shops — especially if you don’t fish — but you might find a Christmas gift for your brother-in-law. Or, if you’re a non-coffee drinker with a Starbucks gift card on your hands, buy a round of lattes for your next work meeting.“It’s best to use gift cards promptly,” Rossman says.The sooner you spend gift card money, the less likely you are to forget about it. You can also sell gift cards.
- Can I turn a gift card into cash?
If you’d rather have cash to spend somewhere else, you can usually sell gift cards online or trade them in for gift cards at big retailers like Walmart or Target. Just keep in mind you’ll lose some of the card’s original value. “If nothing else, sell the gift card on a platform such as CardCash or Raise,” Rossman says. “You can often get at least 70% or 80% of what it’s worth.”
- How do I buy gift cards with credit card rewards?
If you have a cash back or travel rewards credit card, you can often purchase gift cards with your cash back, points or miles. The value of using rewards for gift cards varies by card, and may be worth less than travel but more than cash back, in some cases. Some card issuers offer discounts on gift cards, which get you even more bang for your buck.That gift card earned with rewards could mean a gift for someone else or a shopping spree at a retailer you actually love.Learn more about how to maximize your credit card rewards.
Methodology
Bankrate commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,373 U.S. adults, of which 1,010 have unused gift cards, gift vouchers, or store credits . Fieldwork was undertaken between August 19-21, 2024. The survey was carried out online and meets rigorous quality standards. It employed a non-probability-based sample using both quotas upfront during collection and then a weighting scheme on the back end designed and proven to provide nationally representative results.
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