A few days ago Miles To Memories & Chasing The Points both reported that CardCash has launched a new website at https://walmart.cardcash.com/Â to allow customers to turn their unwanted gift cards into Walmart eGiftcards with over 200 different retailers and restaurants.
At the time the service had not launched so it wasn’t possible to see what rates this new service was offering. I thought it was worth doing a bit of extra exploring to see if this new partnership is actually useful, or if you’re better off just selling your gift cards for cash to another gift card reseller.
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Key Points To New Site
- You can sell eGiftcards to this new website
- You do not need to mail in your gift cards
- You’ll receive a Walmart eGiftcard, not a physical card (only some gift card reselling sites accept eGiftcards and some of these offer a lower rate)
- Seems to be issues using the website with Firefox & Chrome, but Internet Explorer seems to work fine
- Walmart eGiftcard can take up to 24 hours to arrive, but should arrive within 1-2 hours
- The rate they offer you doesn’t seem to vary based on how much in gift cards you’re selling (e.g selling $5,000 won’t get you a higher price than $5)
Does Using This Site Make Sense?
I’m always skeptical about new sites such as these, often they aren’t really useful at all and are just a quick cash grab on unsuspecting consumers. I thought I’d compare the rates that this site offers (column 2), to the best rate you could sell a gift card for in cash (column 3).
I also thought it’d be interesting to see if it’d make sense to convert gift cards to Walmart gift cards first and then sell Walmart gift cards for cash, rather than selling the other gift cards for cash directly (column 4). At the moment when you sell Walmart gift cards you can get 90.5% of their face value in cash, so we used this as our rate.
The final thing I wanted to look at is whether you’d be better off selling your gift cards for cash and then purchasing Walmart gift cards from a reseller (column 5), rather than using this new website. At the moment you can get a 4% discount when purchasing Walmart giftcards for cash using a reseller.
| Store name | CardCash/Walmart Rate | Best Cash Rate | Walmart GC To Cash | Cash To Walmart GC |
| Target | 96.60% | 90.50% | 87.42% | 94.12% |
| Best Buy | 92.40% | 89.50% | 83.62% | 93.08% |
| Staples | 90.30% | 86.50% | 81.72% | 89.96% |
| Bath & Body Works | 75.60% | 74.50% | 68.42% | 77.48% |
| CVS | 84% | 82% | 76.02% | 85.28% |
| Amazon | 94.50% | 75.50% | 85.52% | 78.52% |
| Gap | 84% | 82.50% | 76.02% | 85.80% |
| Sears | 84.50% | 88.20% | 76.47% | 91.73% |
| Toys ‘R’ Us | 84% | 81% | 76.02% | 84.24% |
| Jet Blue | 87.67% | 84% | 79.34% | 87.36% |
Results of our testing
- It only made sense to convert a gift card to a Walmart gift card and then sell that giftcard for cash once and that was when selling an Amazon gift card. For some reason Amazon gift cards have a low buy rate on all reselling sites, but a high rate (94.5%) when exchange for a Walmart gift card. In general you were always better off selling your gift card for cash directly.
- Sometimes you were better off using this site if you wanted Walmart gift cards
- Sometimes you were better off selling an unwanted gift card for cash and then purchasing a Walmart gift card at a discount from a reseller
Our Verdict
I wasn’t really surprised by the results of our tests, as I didn’t think this new offering would be of much use. It seems to be good value except when you consider that Walmart gift cards aren’t like cash, this is evident by the fact that it’s usually easier sell your gift cards for cash and then to buy Walmart gift cards at a discount of 4%.
I’m sure CardCash will do quite well out of this new website, especially because they are probably getting a discount of more than 4% on their Walmart gift cards. I will not be using this site myself, unless I have a need for Walmart gift cards in which case I’ll see if it makes sense logically. It’ll be interesting to see if they will roll out similar sites for other retailers. I don’t think this would be a hard sell, as presumably it would lead to an increase in sales.
What are your thoughts on the this offering by CardCash? Have you used it yet? Do you plan to use it in the future? Let us know in the comments section.
