7 Ways to Maximize Gift Cards

It’s always nice to make your dollars stretch just a little further, right? Well, if you have gift cards there are a few hacks that help your cash do more for you. If you’re a savvy shopper you can squeeze every dollar out of those gift cards with a few tips and tricks.

Use these seven hacks for optimizing your money with discount gift cards and standard gift cards with small balances. 

7 ways to maximize gift cards 

Planning how you’ll buy and spend gift cards could save you money in the long run. Here’s how you can use gift cards strategically to get the most bang for your buck. 

1. Instantly trade your unwanted gift cards at Target

We’ve all received gift cards we probably won’t use. Rather than letting yours gather dust, trade it in at Target for a gift card to their store. 

Target accepts several participating restaurant, retail and travel gift cards for store credit. Take your unwanted gift card to a Target service center, ask whether your card applies to their exchange program and make a trade. 

Although Target gift cards usually fall below the balance of your original gift card, you’ll get it on the spot and be able to spend it, immediately. If the alternative is neglecting your unwanted gift card to a store you’ll never visit, cashing in for a Target gift card could be well worth the trade. 

2. Purchase movie tickets with a discounted gift card and save big

Discounted gift cards are typically more favorable to some industries than others. Your percentage of savings differs depending on the store and card distribution service you use. Movies happen to be one of the best uses of discounted gift cards, easily saving you 15% to 20% on tickets. 

If you’re an avid movie-goer, purchasing discounted gift cards could save a lot of money over time. Not to mention, if you intend to give the gift card as a gift you’ll be saving yourself money regardless of whether or not the recipient cashes in.

3. Carry a Sharpie to track your balance 

Have you ever had a gift card and not known the balance? It can be frustrating to use a gift card, but not know whether or not you’ll have to finish the purchase with a debit or credit card. 

Avoid unnecessary purchases by keeping a Sharpie in your purse to keep track of your gift card balance. Every time you use the card, you can ask the cashier to tell you the remaining balance. Using a Sharpie also won’t damage the card, as a pen might, and marks it permanently so your notes don’t wear off. 

4. Gift your credit card points

Do you have credit card points or rewards you’re not using? Many credit card portals allow you to use your points to buy gift cards at a discounted rate. You can also gift the points or miles themselves, which can be a valuable gift at little cost to you. 

5. Buy discounted gift cards right before you use them

Discounted gift card sites often offer limited-term guarantees. Ranging from 100 to 180 days from purchase on average, you’ll want to use your card within this time frame to make sure there are no problems with the transaction. 

Not to mention, buying your card right before using it increases your chance of remembering the purchase and cashing in with your discount. Avoid the mistake of impulse-purchasing a discounted gift card and neglecting to use it strategically. 

A win-win for businesses and shoppers alike, sites like Cardpool, Raise and GiftCardGranny sell discounted gift cards to top stores. 

6. Trade in your low-value cards for cash

Depending on your state of residence, you can trade in your low-balance gift cards for cash. Best for restaurant and retail gift cards, trading in won’t be an option for bank-issued cards like Visa gift cards. 

If your state permits, you’ll be able to take your gift card into the company for which it was issued and cash out. This usually applies to gift cards with balances under $10, though you can always ask the retailer if cashing out is an option. 

It might not seem like a lot, but that extra change can add up. Think about it: would you rather let the leftover $2 on your gift card sit in the company’s pocket, or yours?

7. Trade gift cards for discounted travel

Traveling can be extremely expensive. Give yourself a break by purchasing discounted gift cards for travel. Get a deal on hotels, plane tickets, dining experiences and nights out simply by planning and using discounted gift cards. Airbnb also offers discounted gift cards. This way, you can plan out the itinerary of your trip ahead of time, and save money doing it. 

Although shopping with gift card restrictions can be a struggle at times, gift cards can still be a handy tool if you know how to maximize their worth.