1. Getting cashback from a Visa® gift card
If you have a Visa® gift card, it’s unlikely that you will be able to trade it in for cash. You’ll need to use your gift card to buy something. The good news is that a Visa® gift card is not all that different from a Visa® prepaid card, so you can swipe it at point of sale terminals. Keep in mind that although your Visa® gift card may have a PIN, you cannot use it to withdraw money from an ATM.
2. Getting cashback from a store gift card
Wondering if you can get cash back from a store gift card? Yes, you can! If it is a closed-loop card, which means the card can only be used at a particular store, you can sell it to a gift card reseller and get cash in return. It’s unlikely you’ll get the full value of the card, but it’s better than hanging on to a card you have no use for. Now, if you’ve already used a part of the gift card balance and want to cash in the remaining, you’ll need to check if your state has any rules that require merchants to pay back customers if the gift card balance is below a predetermined amount.
3. Getting cashback by buying and returning something
Many people wonder if they can buy something with their gift card, and return it to the store to get a cashback. The answer to this is quite complicated since stores may have different rules regarding this. However, most stores will simply credit the amount back to the gift card when you return the item, and not give you a cashback.
As the name suggests, gift cards are meant to be gifts. So, if you have a gift card and are unable to trade it in for cash, use it to buy yourself something that you wouldn’t normally spend on. Alternatively, consider giving it away to your friends or family members.
All third-party names (including company and service names), graphics and logos used here are trademarks or registered trademarks of such third parties. Use of them here does not imply any affiliation with or endorsement by such third-parties.
Top Content
