Where do I go to sell unwanted gift cards?

SYRACUSE, N.Y. (WSYR-TV) - Gift cards are always popular present ideas around the holidays.

But they aren’t always wanted.

If you’re trying to sell your gift card, there are a number of online options, but financial analyst Rick Reagan points out that you may not get the money that you’d expect.

As a general guideline, Reagan advises people to avoid giving gift cards as presents – suggesting that cash is a better alternative.

Reagan examined at least two popular sites that will give you cash in exchange for your gift card, and found that you may be losing more money than you think.

“They’ll advertise that you can get up to 92 percent to 94 percent of the value of your card, but that wasn’t my experience. I put in some really popular stores to see what they would offer, and generally on those sites, I was having to give up about 15 to 25 percent,” Reagan said.

The sites Reagan looked at included GiftCardGranny.com and CardPool.com.

For additional information and links for selling gift cards, visit CNET.com.

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