Over time, gift cards have become a mundane present to many people, giving U.S retailers, such as Amazon, Target, Nordstrom, The Home Depot, and others the much-needed cash influx as they end a rough year. According to Blackhawk Network, gift cards expenditure amongst Americans this coming holiday will increase by 19% compared to the previous year.
The study found that shoppers intend to purchase an average of 10 cards, which is double last year’s projection. Unfortunately, with billions of gift cards being left unredeemed every year, this surge in gift card sales translates to free money for retailers. However, you don’t have to redeem them in the traditional way. Instead, you can use gift cards in these creative ways.
Donate them to Charity
Donating unredeemed gift cards is a prudent way of contributing to charitable organizations. You can support local nonprofits that work towards making changes in your community. Unused gift cards provide a lot of flexibility to your local charity organizations, such as homeless shelters and education charities.
Swap them on Exchange Sites
You can turn to the web if you have a gift card or prepaid card that you can’t use, return, or need a special gift card. You can sell, buy, and swap gift cards on various websites. For this, simply search for gift card exchange sites and enter the retailers’ names on your gift card. Most exchange sites will allow you to trade the gift card for another card or take an equivalent amount of money.
Pay Standard Bills with Prepaid Cards
Unknown to many, you can also pay your basic bills with prepaid cards. Note that prepaid cards that can be used to pay bills are in two types, prepaid debit cards, and network-branded gift cards. Before using either to pay your bills, you should search deeply to understand which card option is better.
Most prepaid debit cards work with major payment card processors, such as MasterCard, Visa, American Express, and Discover. Therefore, the card processor dictates if the electronic payment is accepted by the company for bill payment.
Convert Them into Cash or Bitcoin
An easier way to dispose of your unused gift cards and prepaid cards is by converting them into cash or bitcoin. With Prepaid2Cash, you can convert your gift cards into cash for immediate use. For prepaid cards, you can choose cash or Bitcoin to diversify your finances. You can get cash in your bank account in as little as 15 minutes. Visit the App Store or Google Play and download the Prepaid2Cash app today.