Exchange gift cards you don't want for money

FOX 5's Lindsay Watts reports.

- Estimates are that $1 billion in gift cards went unused last year and if you are holding onto a card you are never going to spend, there is no reason to let it collect dust.

There are a growing number of websites where you can trade or sell gift cards, including Cardpool, Gift Card Granny, Raise and Card Cash.

You can either trade your card for a different one or get a check in the mail. Be prepared to lose some of the value of the card. For example, when we checked Cardpool, a $50 Target gift card would turn into a check for $43.50.

If you want money on the spot, some Coinstar kiosks are now accepting gift cards. Coinstar Exchange accepts cards from over 150 stores and restaurants. As with the trade-in websites, expect to lose a percentage of the gift card value. Not all kiosks have the gift card option. For more information and to find a kiosk near you, click here.


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