Target Exchange
Target announced last week a new way of getting rid of unwanted gift cards by trading them in for a Target gift card.
The service is available in Target stores at a dedicated kiosk for this purpose, and just in time for the major holiday gift card season. The exchange will be open year-round and is in partnership with discounted gift card exchange Cardpool.
Have a gift card you don’t want? Simply bring it into a Target store and trade it for a Target gift card. There are hundreds of card types eligible for exchange; based on the gift card brand, they’ll make you an offer to swap for a new Target GiftCard. Then you can choose if you want to accept or decline the offer.
The program is available in 1,562 Target stores in the electronics department.
Is it a good deal?
Is it a good deal? That, of course, is the question.
Readers comment to this post that the rates are bad; for example, they offer just 67% for a Best Buy gift card. You can do much better by selling the card for cash.
Other Options
There are numerous merchants who allow swapping gift cards, see List of Options to Exchange an Unwanted Gift Card for Another.
Many people will prefer to just sell the gift card for cash. We wrote a guide to explain how to do so, see The Complete Guide to Selling your Unwanted Gift Cards for Cash.
HT: Reader Eric and CNN Money
Updated 12/29/15
