SAN ANTONIO – If you received a gift card that just doesn't fit your style, you can exchange it or even cash it in.
"I would consider that if I got one I didn't want," said Sarah Carter.
She and her daughter, Isabella, said they would definitely be using the gift cards they received.
But one-third of gift cards never get used, according to the National Retail Federation. The plastic gets lost, forgotten or is simply not wanted.
Walmart launched a test buyback program this year, but there are some catches. You don't get cash, but rather a Walmart gift card. And you don't get face value. Higher-demand cards fetch more.
For example, a $100 Starbucks gift card was worth $74.55 on a Walmart card, according to the Walmart card swap site. A $100 Target card, however, was worth $96.60.
For the next couple of weeks, Walmart will accept approximately 200 merchants' cards online at walmart.cardcash.com. If the test program is successful, the retailer indicated it would consider making it permanent.
If you prefer cash, there are plenty of websites where you can sell unwanted gift cards, paying as much as 92 percent of the card's face value. But shop around. A quick check showed no one site always offers the best deal.
A check for offers for a $100 Toys "R" Us gift card showed Giftcardrescue.com offering $70, Cardpool.com offering $78, Giftcards.com offering $80.50 and Monstergiftcard.com offering $81.
The companies then try to resell the cards at a profit. Buyers can find some good deals including a $217 gift card to Ann Taylor being offered for $161.