Unused Gift Cards

December 27, 2012 4:21:24 AM PST
George Bousis of Coupon Trade in Chicago discusses how to use unused gift cards, and how they can be sold for cash.

Industry facts:

-$120 Billion will be spent on gift cards in 2012, from $83 Billion in 2006
-The average American Household has $300 in un-used gift cards lying around
-20% of gift cards go unspent leaving over $20B at large each year
-On average gift cards sell in the secondary market for 92% of their value
-Electronic gift cards are growing rapidly, just like the smart phones 100% YOY

What to do with your gift cards:

1) Record the gift card in case you loose it (scan the card, write down the account and pin #, or take a picture of the back of the card)

2) Research the value of your gift card (Check coupontrade to find out how much you will get back in your pocket)

3) Sell your gift card on the coupontrademarketplace (Price your card at the market, if you need the $ faster, price it below market value)

4) Share your listing on your social media channels to help the card sell faster and for more money

5) Withdrawal your funds after the sale and buy what you really need (check, paypal,ACH/Direct deposit)


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