Reporting Paula Ebben
BOSTON (CBS) – Gift cards were the most requested present this past holiday season.
But that doesn’t mean they are always a hit.
Laura Heebner got several gift cards she couldn’t use.
“I probably had 6 or 7 gift cards for a baby store and my kids are now getting older, so I swapped them for something I could use for older children,” she said.
How could she do that?
She went to cardcash.com.
Liz Luke, who is with the website, explained “We buy all the gift cards that nobody really wants, and have no use for, and we turn around and sell them to people who want them.”
When you do a trade, a 3%-20% transaction fee is deducted depending on the popularity of the cards involved. For example, trading a $100 card would result in a $80-$97 credit.
WBZ-TV’s Paula Ebben reports
You can also choose to get money back.
“You can send in a card for 5 cents, or you can send in a card for $2,000- $3.000. It doesn’t make a difference, unlike other sites. We take every single card that you would send us. We don’t have a minimum, we don’t have a maximum,” Luke said.
The amount of money you get back varies based upon the popularity of the cards you sell.
For example a $10 Starbucks card would fetch $8.20 right now.
A more popular $10 card at Target would fetch $9.20.
“Target definitely is one of our hottest sellers. Kohl’s is another one. There’s always a lot of orders for Macy’s, JC Penny’s, a lot of department stores, Nordstrom’s,” Luke added.
After mailing in the cards, the money is sent to you by check, electronic transfer or deposited in a PayPal account.
If you are in the market to buy a gift card, the savings range from 5%-28%.
If you buy a card from them, you have 45 days to use the card.
This allows you to make sure the balance is correct and the card has not expired.
The site offers a money back guarantee if there are any problems.