Photo credits to: 401kcalculator.org
Did someone give you a gift card from a store that you don’t even go to? Or would you rather use that gift-card-trapped-money in a store where you regularly shop? Or you just want to save the money instead of being forced to spend it? YES YOU CAN!
I recently signed up with Raise because I wanted to extract the money out of a Best Buy Christmas Gift card that is actually 4 years old. Can you believe that? That gift card was given to us on Christmas 2011. I went to Best Buy’s website and found out it has $10, it didn’t expire. I didn’t want to waste the money by buying something so I figured that I’d exchange it for cash, and so I did.
- Sign up with Raise.
- Raise will ask for your credit card to validate that you are a real person. This is better than having to give out your SSN, nope they won’t ask for your SSN.
- Sell your gift card, in my case, I had to scratch the Serial Number and Pin number, Raise converted it to an eGift card. With physical cards (those cards with an amount shown), you would have to ship it through mail, Raise will let you ship it for free.
- Wait for someone to buy it, mine was sold in less than hour! Raise will notify you via e-mail.
- Setup your payout preference to either check by mail, direct deposit to your bank or PayPal.
- Cash out your earnings!
The listing price was $9.47 and I earned $8.05 out of $10. Why $8.05? Because you have to sell it with a lesser price, otherwise no one would buy it. Also, Raise takes 15% from your earnings, that’s how they earn as well. This is fine with me, because to begin with, the gift card I had was given to me, it’s free money, so I don’t mind getting FREE $8 out of $10, at least I didn’t spend it on anything I did not need.