Last Updated on April 22, 2024 by Kimberlee Johnson
Do pawnshops purchase gift cards? This question is frequently asked, especially during holiday seasons.
Well, you’re in luck. In this blog post, we’ll tell you if you can get your local pawn shop to pay you cash for your gift cards. Read on.
Will A Pawn Shop Buy My Gift Card?
Yes. A pawn shop might buy your gift card depending on several factors.
The first thing a pawnbroker will do is check the balance on the card to see how much it’s worth.
They’ll also consider the card’s brand and how popular it is in the area. If the card is for a store not located nearby, they may be less likely to accept it.
Pawn shops [1] also typically don’t accept cards that have already been used, so if there’s no balance left on the card, it’s unlikely they’ll make an offer.
Generally, the more popular the brand and the higher the balance, the more likely a pawn shop will be interested in buying your gift card.
Can You Sell or Trade a Gift Card at a Pawn Shop?
The answer is maybe. It depends on the pawn shop and the type of gift card.
Some pawn shops don’t accept gift cards, while others only accept certain cards.
For example, a pawn shop might only accept cards from major retailers like Walmart or Target.
And even if a pawn shop does accept your particular type of gift card, they may only give you a fraction of the card’s value.
So if you’re thinking about taking your unwanted gift card to a pawn shop, call ahead and find out their policy.
That way, you’ll know what to expect and whether or not it’s worth your time to make the trip.
Related Post: What Gift Cards are Available at Stop and Shop?
What To Know Before You Go To A Pawn Shop To Sell Your Gift Card
First, check the balance of your card to make sure it’s worth selling. Second, find out if the pawn shop’s policy is on expired cards.
Some shops will still accept them, while others will not.
Finally, research the shop beforehand to ensure they’re reputable and will give you a fair price for your card.
With these tips in mind, selling your gift card at a pawn shop can be a quick and easy way to get some extra cash.
Can You Purchase Gift Cards From Pawn Shops?
Yes, but you have to remember a few things.
First, the gift card’s value will be lower than its face value.
It is because pawn shops need to make a profit and will also factor in the risk that the card may be stolen or expired.
Besides, it is important to check the terms and conditions of the card before making a purchase.
Some cards may restrict where they can be used, and some may require activation fees.
With these guidelines, you can confidently purchase gift cards from pawn shops. Learn more about how to get a Netflix gift card for free here.
Can Gift Cards Be Redeemed For Cash At Pawn Shops?
Yes. While most people know they can pawn items for cash, some may not be aware that this also extends to gift cards.
Pawn shops will take any major brand gift card and give you a percentage of its value in cash.
For example, if you have a $50 gift card from a department store, you might be able to get $40 in cash from the pawn shop.
Nevertheless, it is essential to remember that not all stores will provide this service, and some may only acknowledge particular kinds of payment cards.
If you’re looking to redeem a gift card for cash, it’s always best to call ahead and check with the shop before making the trip. But how can I transfer my Walmart gift card to the cash app?
FAQs
Do pawn shops buy Amazon gift cards?
It depends on the pawn shop. Some pawn shops may be willing to buy Amazon gift cards, while others may not.
Typically, pawn shops will only buy gift cards if they can resell them for a higher value.
Do pawn shops get anything for selling gift cards?
Yes, pawn shops get something for selling gift cards.
They generally receive a percentage of the gift card’s value, typically lower than what the card is worth.
So, for example, if a pawn shop sells a $100 gift card for $90, it would receive 10% of the card’s value in return.
What kinds of gift cards does a pawn shop not accept?
A pawn shop will not accept gift cards issued by a store located in the same mall or shopping complex as the pawn shop.
Since the pawnshop would essentially be giving itself a gift card, it would be against the rules for them to do so.
Additionally, most pawn shops will not accept Visa or Mastercard gift cards.
This is because those gift cards are typically used for online purchases, and pawn shops do not sell goods or services online.
Finally, most pawn shops will not accept store credit from other retailers because it would be like giving themselves a gift card from one of their competitors.
Key Takeaways
Each pawn shop has different rules and regulations regarding what items they want to purchase.
However, most will at least consider purchasing a gift card if it meets certain criteria, such as having a high balance and being from a popular store.
Therefore, your local pawn shop may be worth checking out if you want to get rid of an unused or unwanted gift card.
Reference:
- https://www.opploans.com/oppu/articles/5-reasons-to-avoid-pawn-shop-loans/
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