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Exchange Unwanted Gift Cards For Cash

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Jan 19, 2009 5:45 pm US/Eastern

Exchange Unwanted Gift Cards For Cash

PITTSBURGH (KDKA) ― Many gift card websites now offer cash for unwanted or unused gift cards. 

Websites such as Giftcardbuyback.com and Leveragecard.com allow consumers to swap or buy unwanted gift cards for slightly lower than their worth.

"If it was a gift card I wouldn't use, I would definitely be interested in it," said Alaina Hartman, a junior at the Duquesne University. "But most of them I use."

A $50 gift card for P.F. Chang's China Bistro equates to $37.50 in cash.

Dr. Audrey Guskey, professor of marketing at Duquesne University, loves the idea.

"We're a cash-strapped society now," said Guskey. "And so people would prefer to get the money and not the gift card.  So, I think everyone is doing what they can to sell them, swap them or get rid of them."

These websites also allow consumers to buy gift cards at discounted rates from over 100 stores.

For example, a Lowe's gift card valued at $88 costs just $82 online.

"There's great savings as the buyer, because a lot of times it is between 10 and 20 percent discounted," said Guskey.
 

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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