Money fix: Using unused gift cards
There are ways to put gift cards to use, even if a consumer is not inclined to shop. Credit: iStock
Now that St. Patrick's Day has come and gone and Easter is around the corner, face it, if the gift card you got for the holidays and perhaps the one you got last year for your birthday are still collecting dust, you're probably not going to use them. Some $41 billion in gift cards have gone unredeemed since 2005, according to TowerResearch.
But it's not too late to put that card to good use. Even if you have no desire to shop, there are plenty of options.
Trade it or sell it. Many people don't know that you can sell unwanted gift cards online for cash. Even if your card is not affiliated with a major national retailer, or if you've used some of the funds and an unusual amount remains, you can still capitalize on your card.
Try card-swapping and selling sites such as PlasticJungle.com, SwapaGift.com, GiftCardRescue.com, CardHub.com or CardPool.com.
Donate it. GiftCardGiver.com stockpiles cards, then combines them into higher value gift cards that are donated to the needy. The Long Island-based Michael Magro Foundation collects them and either recycles them into gift baskets for fundraisers or gives them to families coping with children with cancer.
Regift it. Maybe you have no use for that card, but your best friend might. Most stores allow you to trade in old gift cards for new ones, so there's no need to worry about giving a card that bears outdated branding, says Odysseas Papadimitriou, chief executive of CardHub.com.
Gift cards are given with the best of intentions; don't let them go to waste.
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