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Tuesday 27 december 2016 BUSINESS
A24

What to do with those unwanted gift cards

SARAH SKIDMORE SELL This may be your easiest
AP Personal Finance Writer solution. If you can’t use
Gift cards are a popular the card or just don’t want
present at the holidays — it, someone else might. So
the National Retail Federa- why not hand it over to
tion says more than half a loved one who wants
of consumers plan to give it? Gift cards are typically
one this year. good for several years and
But they aren’t always there are no rules about
wanted — research orga- changing hands.
nization CEB TowerGroup SELL IT
estimates that $1 billion There are various exchang-
of the $130 billion spent es online, such as Card-
on gift cards last year went pool.com, Raise.com and
unused. It could be that Cardcash.com, where you
the gift card is for a retailer can buy and sell gift cards.
or other business the re- You won’t get the full value
cipient doesn’t like. Or they of the card but you’ll re-
simply don’t have access coup some of the value.
to the restaurant or movie Expect to get about 80 to
theater to spend it. 90 cents on the dollar of the
So if you got a gift card that value of the card at a rep-
is going to sit untouched, utable site, said Teri Llach,
what should you do? Here chief marketing officer for
are a few options: the Blackhawk Network, This Tuesday, Dec. 22, 2009, file photo shows a gift card kiosk at a CVS/Pharmacy, in New York.
REGIFT IT which owns Cardpool. Gift cards are a popular present at the holidays.
Associated Press
Llach strongly discourag- You still won’t get the full
es consumers from going value, but it’s a better deal
rogue and trying to sell or than gathering dust.
buy one for themselves on- DONATE IT
line as there’s no way to tell A feel-good, do-good op-
if you are being conned. tion is to donate your un-
An established and reputa- wanted gift card.
ble site will guarantee that You can do this by handing
you are getting the prom- the card directly to a chari-
ised balance in the time ty. Consider a church, food
frame you want. bank or school that might
If you are more of an in- use it to buy supplies, or of-
person sort, you can visit a fer it to a needy family in
CoinStar Exchange kiosk to your community. Cardpool
get cash for your gift cards. and Compassion Interna-
Target will allow you to tional co-founded Card-
bring in gift cards for ma- Funder which lets consum-
jor brands with remaining ers donate gift cards with
balances on them and available funds on them
exchange them for a Tar- to a number of charitable
get gift card. efforts.q