We can practically buy gift cards anywhere in the U.S. Ask an American, and they will show you how every store on every corner sells one. While the buying of gift cards is a huge market, so is its business brainchild, the secondary market of reselling unused gift cards.
Also Read: A Quick and Easy Way to Sell Gift Cards for Instant Payment
Statistics indicate, that 47% of Americans have at least one unused gift cards they are willing to part ways with. Not that it is a difficult process; anyone can trade gift cards online instantly, in just a few clicks.
However, the question still stands, how legal is the gift card trading business in the US? Although a simple answer to this is yes, it is legal to trade gift cards in the U.S. However, let’s dig a little deeper…
Before you trade gift cards online instantly
Check the validity and balance of the card before you resell
Before you go ahead and sell off the gift cards, check their validity. A valid card has not expired, and neither is very close to it.
Also, whichever type of gift card you choose to sell, it must have a minimum balance of $25 or more to be resold. To find out the balance, you can get in touch with the card issuer.
Understand the gift card laws of your State
Gift cards are very popular in America, hence, these have laws too when it to comes to selling and reselling. There are fifty states and each with a varied set of laws.
For instance, California prohibits the concept of expiration. In Maryland, on the other hand, card issuers can implement expiration dates after 4 years have passed.
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The more we inform you of the legalities, the more complicated this selling process becomes. Hence, it is advisable to check the state laws before you proceed.
So, before you go ahead and research cash for gift cards near me, make sure you research more about the gift card you mean to sell and resolve the issues mentioned. Happy Re-Selling!
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