Community Corner
Second-Hand Gift Cards Focus of Gift Card Exchange Day
What to do with those unwanted gift cards you received for the holidays? Here's some answers from Web sites counting on higher rates for second-hand gift cards the day after Christmas.
Received some gift cards you don't really need, or want?
Thankful for the intention, but wishing instead for some other way to spend the money?
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Or are you someone who just happens to sit on those gift cards, forgetting over time that they exist, until they're either lost or timed out?
Consider, then, that today, Dec. 26, is Gift Card Exchange Day.
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Accoring to GiftCardExchangeDay.com, today is the day to keep in mind that "big brand stores make millions from the unused gift cards sitting in our wallets and drawers."
The annual, one-day event "seeks to educate consumers about their option to sell those cards at the time of year when resellers are paying the highest rates for second-hand gift cards."
At GiftCardExchangeDay.com, enter the merchant noted on your gift card, note the amount, then select from a list of companies offering to buy that card for an amount up to the face value of your gift card.
The list includes companies you can visit as well on your own, including:
A Dec. 24 report in The Augusta Journal notes that today is the inaugural Gift Card Exchange Day, and that according to Kendal Perez, "the purpose of the event is to bring awareness to the fact that people can exchange unwanted gift cards for cash." Perez reportedly is a "representative of Gift Card Granny, which created Gift Card Exchange Day."
The Web site, like the others, also allows for the purchasing of second-hand gift cards, at a discounted price.
The Augusta report notes that during Gift Card Exchange Day, "resellers will be paying the highest premiums of the year for gift cards, because they are eager to restock their inventory after the holidays."
Are you buying it?
Let us know in the comment box below.
Meanwhile, do your research and keep in mind some caveats and warnings, including those noted in a March 2011 report by SmartMoney.com, entitled, "Gently Used Gift Cards Can Help You Save."
Among the tips noted: "Before buying a used card, check that the selling site verifies and guarantees card balances."
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