Gift cards are becoming more and more popular as gifts, as people are now able to keep them longer without fees, and use many of them for online or in-store purchases. Still, it is almost inevitable that we're eventually going to receive one or more of these cards that we simply aren't going to use, because we don't shop that retailer, or there isn't even one in our area.
FoxNews (video above) is reporting this week that sites that allow shoppers to trade or cash-in their gift cards is a growing business. For example, Plastic Jungle, a site mentioned in the report (video above), allows shoppers to cash in their unwanted cars for up to 92% of the balance. This allows the site to keep 8% or more of the balance of the card (they DO need to clear a profit, after all), and still allows the customer to receive most of the value of the gift they were given on something they actually want (cash, or merchandise they actually need). Those wanting to purchase gift cards can do so for up to 30% off, saving money (and who doesn't like saving money?). So, win-win, right?