Tuesday, December 29, 2015

Target to Buy Unwanted Gift Cards

If you're a coffee-hater who received a Starbucks card over the holidays, you may be in luck. CNN reports that Target is buying unwanted gift cards, albeit at a reduced price. Note that fees are taken out during the exchange, and the trade-in values vary. One example: a $100 Walmart gift card would exchange for an $85 Target gift card.

Target is partnering with gift card exchange website Cardpool and electronic trade-in company Nextworth for the program. Cardpool provides the trade-in rate of consumers' gift cards and then re-sells them.

Gift cards are the most asked-for present during the holidays, according to the National Retail Federation, which estimated total gift card spending to hit nearly $26 billion this season. Target will exchange gift cards from more than 600 brands, including Old Navy, Cheesecake Factory, Tiffany & Co, Staples and Pottery Barn.

The program is available in over 1,500 Target stores nationwide, but not all Targets offer this service. On CNN this morning, they gave the tip to head to the Electronics Department and ask for the Cardpool representative.


Unknown said...

Wish they'd get rid of the unwanted "self check out" lanes and bring back 10 items or less. I don't do self check out. I will never do self check out. And they still need the same number of clerks there waiting on people because no one else does self check out, either.

Target Addict said...

Unknown: I totally agree. There's one store left in my area that still has the "10 items or less" lane (in addition to the self-checkouts) and if management would only pay attention, the "10/less" lane is ALWAYS more filled than the self checkout!