Consumer Reports: Gift Card Swap

UNDATED (KSLA) –Americans spend more than $80 billion a year on gift cards, but about $5 billion dollars worth go unused every year.

Consumer Reports ShopSmart says there are ways to unload unwanted gift cards and turn them into cash.

Seven web sites were checked out where you can sell your cards for cash. Lisa Freeman with ShopSmart says, "It turns out you can sell unwanted gift cards for up to 90 percent of the card's value."

ShopSmart checked to see just how much it could get at each of the sites for a variety of gift cards. They included Applebee's Bath and Body Works, The Gap with prices that ranged from $32.50 to $40.

When ShopSmart checked the sites that paid the best prices, they included Plastic Jungle and Card Pool, but no one site always had the best deals, so you've got to shop around.

These sites will also let you BUY gift cards at a discount.  When buying a gift card, be sure to look for a guarantee on the site and don't lose that gift card.

You won't be able to replace it because you won't have a receipt.