Is your wallet full of gift cards you haven't used? Consumer Reports checked out seven websites where you can sell your cards for cash.
"It turns out you can sell unwanted gift cards for up to 90-percent of the card's value," said Lisa Lee Freeman with Consumer Reports.
Consumer Reports checked just how much it could get at each of the sites for a variety of gift cards. They included Applebee's, Bath & Body Works, The Gap, Kohl's, Macy's, Payless, Pier 1, and Walmart. For a $50 Gap card, prices ranged from $32.50 to $40.
"We found in our search that Wal-Mart's card was the most valuable," said Freeman.
When Consumer Reports checked, the sites that paid the best prices were plastic jungle and card pool. But no one site always had the best deals, so you've got to shop around.
"These sites will also let you buy gift cards at a discount," said Freeman, "you could pay just 40 dollars for a 50-dollar gift card. That's ten dollars saved right there. But you have to be careful."
When buying a gift card, be sure to look for a guarantee on the site. "If the site doesn't have a guarantee, you could be out of luck if the card turns out to be invalid or if it has less than the advertised value."
And don't lose that gift card. You won't be able to replace it because you won't have a receipt.
