Turning Unused Gift Cards Into Cash � The CentralConnecticut Post

Turning Unused Gift Cards Into Cash ? The Central Connecticut Post

CONNECTICUT - If you have any holiday gift cards gathering dust, you are not alone. If that's thecase, Connecticut BBB recommends finding and trading them or turning them into cash.

The National Retail Federation says gift cards accounted for $30 billion in holiday spending.Historically, more than $1 billion of those will go unredeemed.

SinceAugust,2003,Connecticut law has prohibited retailers from imposing an expiration date or charging inactivity fees.However, cards issued or backed by banks or sold by malls fall under federal statutes, and in suchcases, cardholders http://www.scouting.org/Follow/YouTube.aspx may be charged fees after a periodspecified by law.

Though gift cards are convenient, retail sell my gift card cards Wrist Heart Rate Monitor and giftcertificates are not flexible, which is why some consumers trade or convert them intohttp://www.xilisoft.com/download-youtube-video.html cash. Another consideration is that you won'tbe able to redeem a gift card from any company - particularly a small local business - that closes itsdoors.

There are a number of websites where you can sell gift cards. Expect to lose anywhere from ten to50 percent of their value. In other cases, you might want to sell or exchange a gift card with friendsor colleagues or on an online auction site.

Before selling or exchanging a gift card online, BBB recommends:

Know which are the most valuable cards - Cards with the highest trade-in value are from gasstations, retail chains and grocery stores.

Shop around - Like any other commodity, you will find some people are willing to give you moremoney for your gift cards than others.

Look for a reputable site - There are a number of well-known sites, however, always check out otherconsumers' experiences at http://www.bbb.org before engaging in a transaction.

Understand how the sites work - While some gift card sites allow you to enter the card's numberonline, others may offer a better deal if you mail the card to them.

Be carefulonclassifiedad sites -These sitesdo not offersellers orbuyers thesameprotectionasreputableweb sites.

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