Do you have a Visa gift card that you wish to exchange for cash? Here are several easy methods you can use to convert Visa gift cards to cash.
8 Easy Ways to Convert Visa Gift Cards to Cash
Visa gift cards are a great way of saving on shopping. Most of them are sold during promotions where various stores offer multiple incentives for shoppers who buy and use them. However, even with all the incentives like increased rewards, mail-in rebates, instant discounts, and more, sometimes people require to convert Visa gift cards to cash.
Well, no cause for alarm. If you wish to convert your Visa gift cards to cash, there are numerous ways to do this. In this article, we will explore in-depth, the most feasible ways available for you to convert that Visa gift card to liquid cash.
But why wish to convert your Visa card? Well, there numerous reasons why someone may want to do this.
If you are like me and check your net worth on Personal Capital daily, you likely think gift cards are a waste of time and space.
Why carry some virtual money when you can have cold hard cash to invest or pay down debt?
Firstly, you may have received the gift card from a friend or a relative, but the only store you can shop in is miles away. Also, the cards come with a prepaid fixed balance that is not reloadable.
Finally, you can actually conduct manufactured spending where you buy Visa Gift Cards solely with the purpose of generating rewards points. Then, you convert them into cash. It’s a marvelous way to rack up some serious rewards.
Again, these Visa gift cards cannot be used to withdraw in an ATM and therefore making them somewhat inflexible.
There are a handful of awesome ways to get Visa gift cards for nearly free. You can then convert them to cash.
Here are some awesome ways to get free Visa gift cards.
- Opinion Output – Use my link and get $10 free when you sign up. It’s 100% free to join.
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- Rakuten – Get $10 completely free if you use my link.
- Drop App – Link your credit and debit accounts and get $5 free when you use my link.
There you go. You now can get $35 completely free in gift cards to be used at a later date. You can then use the below methods to convert this into cash to invest or paydown debt!
Easy Ways to Convert Visa Gift Cards to Cash
Selling the Gift Cards
The first and most common method you can use to convert your Visa gift cards to cash is through selling them. Here, you can sell the card in either of the following ways and make money.
Through a Website
Some websites, such as Raise, CardCash, Giftcard Zen, and Cardpool, can buy your Visa gift card in exchange for cash. In some instances, these websites will even send you prepaid postage which you can use to send the gift card to them. Better still, if your gift card is a digital one, some websites will buy it instantly from you.
However, make sure you search for reviews about the website before going into a deal with them.
Therefore, although you will get just a part of the amount the Visa card is worth, its a good percentage if you need the cash.
Using an App
Several buying companies also do offer mobile apps from where you can sell your Visa gift card. For example, a company like Raise has a mobile app you can download and simply sell your gift card.
All you need to do is download the app and send your card.
Then, you can choose the mode of payment you most prefer either PayPal or check. However, the company will take 15% of what the card is worth as their commission.
Listing on eCommerce Websites
Besides selling your Visa gift card through buying websites, you can also list it on an eCommerce website like eBay. This way, you can sell the card at the same price as its value, unlike the other websites which take a considerable amount of the total value. However, if you want to sell it fast, you can consider lowering the price slightly than the value.
One thing you should put in mind is the shipping cost if you will have to send the card.
Also, these eCommerce websites charge a small percentage as commission, although, not as much as other websites.
Sell to a Friend
If at all you have a friend who can buy the Visa gift card directly from you, then this might be the easiest way to get cash for the card. You can ask around from your friends who can also enquire from their friends.
Through this, you will evade the commissions you would have incurred if you sold it online.
Use the Visa Gift Card to Pay Your Bills
The second method, which is as good as getting liquid cash, is using the gift card to cover your bills. You can do this in the following ways:
Pay Your Large Bills like Mortgage, Car Payment and More
Since you still have used cash to pay for the installments of such loans like your car loan or mortgage, then using the card is as good. Some companies, such as Plastiq allow clients to settle certain bills through credit cards. And, since Visa cards are perceived as credit cards, you can use them in companies that allow.
However, you should know that since the company will treat the card as a credit card, the card will incur higher fees.
Pay Everyday Bills
Besides using the cards for larger bills, you can also use it to settle regular bills or better still, make some local purchase with the Visa gift card.
This is possible since, in most cases, Visa gift cards are acceptable in stores that accepts the normal Visa cards.
Also, some billers who accept the use of credit cards will, in most instances, take them for payments.
Emergency Disposal Options
If it’s not possible to liquidate the Visa card through the above methods, you can use these two options although at a fee.
Send Money through Services Such as PayPal
Some service providers, like PayPal, among others, are built to enable users to send or receive cash from other people at a fee.
Usually, PayPal charges a fee for the transfers that is equal to 3% of the value. The good thing about this is that you can use prepaid Visa gift cards to send money in this manner.
This will solve your need of getting cash from the card, although at an extra fee.
Mobile Payment Solutions
Several mobile money service companies have payment readers that will allow you to accept payments from credit cards.
Through this, you can use the method to pay yourself with the Visa gift card and pay a certain fee to a merchant. Some caution though, this is not as easy as it sounds.
You have to be very careful when using the emergency options as some companies will shut down your account if you abuse it.
In addition, if you use the merchant method to pay yourself, tax implications might occur. For this reason, its wise to consult a financial adviser before doing this.
Give out the Visa Gift Card as a Gift
Sometimes, you may require to give a gift to a friend or a family member during special occasions such as weddings. Since the prepaid Visa gift cards are usually bought in denominations of $100, $200 or $500, it can be an excellent gift and will still serve as cash.
Instead of giving a check, a Visa gift card will be as good.
Buy Money Orders
Some stores, like Walmart, as well as other various grocery stores, allow you to purchase money orders using Visa gift cards. By doing so, you can then deposit the money orders into your account and use the cash the way you desire. Generally, money orders can be deposited in a bank account as a form of money.
However, although this seems like a simple method, you must proceed with caution. Numerous banks are known to close down accounts if they notice many money orders deposits.
Therefore, be careful if you have to use this method.
Trade Your Card in a Gift Card Exchange Kiosk
Another great option you can use to convert Visa gift cards to cash is a Gift Card Exchange kiosk. If you require that cash and you have a Visa credit card, then you can visit a Gift Card Exchange kiosk. These stores are usually located in grocery stores, and you can identify them with their bright yellow color.
Here, you just need to insert your gift card’s data into the kiosk, wait for an offer, and decide whether to accept or not.
If the offer is favorable, you can accept and receive a voucher that you can take to a cashier and receive cash. To get the nearest store to you, just search online, and you are sorted.
Jour Cards Store
Jour Cards Store is an online payment and games Eshop. One of the many services available in Jour Cards Store is the exchange of Visa gift cards to liquid cash. Since many people have had to struggle to find a simple to exchange these cards, this is, therefore, a significant relief for many.
The store opens a brand-new idea of trading e-currency through various platforms such as Neteller, WebMoney, Perfect Money, Skrill, Bitcoin, Okpay, and PayPal.
Through this method, Jour Cards gives you 80% of the total value of the Visa gift card, and they take the other 20%. The company wires the 80% either to your purse or account email.
The whole process until you receive your money will take around 24 to 72 hours to complete. This is because their exchange department has first to test your gift card.
Buying Products to Resell
I know you’ve probably heard about this method, but if you haven’t, here is how it goes. The technique not only offers you a chance to get cash out of your Visa gift card but also to make some extra money. In essence, it’s all about taking advantage of great deals.
Platforms like PayPal allow you to pay for products through prepaid gift cards, and various retailers accept online payments. Therefore, you can make an online or in-store purchase using Visa gift cards through PayPal. If you spot a deal that is ideal for a product you can buy, you can do so and then resell the product at a profit or at a breakeven price to get your cash.
This can be a great option if you can be able to get cheap deals for useful products that you can later resell.
See Related: Highest Paying Survey Sites to Make Money
Conclusion on How to Convert Visa Gift Cards to Cash
Sometimes you may have that Visa gift card, and you don’t want to go shopping with it. All you want is to get liquid cash from it to cater to some other bills.
Well, I hope from this piece, you can find an ideal way for you to convert Visa gift cards to cash.
Use Personal Capital to monitor your cash flow and assets. You can link up your checking accounts to ensure you are tracking your income and assets for completely free.
Read through them well and I know you will find the one that best suits you.
Have you found any method that suits your needs? Please share your views with us by contacting us directly. We are here to help.
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Beta financial perspectives entail being more of a follower with making money. You can conduct these tips on making money by learning from what others have done successfully. Use Personal Capital to monitor your cash flow and net worth.