How Legit Is CardCash and Is It Right for You?
It happens all the time. You use a gift card and there is still a couple of bucks left on it. What do you do with that balance? Usually, it seems like it is too much hassle to use it, so it either gets thrown in the trash or the back of the junk drawer. That's why multiple companies will buy back those balances so you can make use of the card. Sounds perfect, right? But when things seem too good to be true, it makes you ask the question: how legit is CardCash and should I use them?
CardCash is a company based in New Jersey that began in 2008 after the founders received multiple gift cards that were left unused. They created the company so that consumers would be able to buy and sell discounted gift cards. The normal rate of exchange for CardCash is 92%, meaning that they keep 8 % of the balance on the card. Keep in mind, though that rate of exchange varies with the popularity of the card. If you have a $50 gift card for Home Depot, for example, and you want to sell it, you would under normal circumstances receive $43.25 and the company would keep $6.75. They will then offer a discounted card to exchange, or you can opt for cash. That $50 Home Depot card will then be offered for sale or trade at a discounted rate of 2.3% off of face value. If this seems confusing, it can be. That's why DoNotPay created this product to make getting your gift card balances reimbursed easily and quickly.
How Do I Redeem My Unused Gift Cards for Cash?
Some states require that a retailer refund unused portions of a gift card if they meet specific criteria. The states and the maximum amount required are:
But sometimes you may have a difficult if not impossible time getting a refund from a cashier at a department store. You can go through the corporate headquarters, call the local store, or try your hand at convincing the cashier to give you the money back. You can also try one of the cashback companies such as CardCash to get a reduced amount of money back for your balance.
Is CardCash Legit?
CardCash, as well as other gift card companies, are legitimate businesses. They are in the business of making money though, so you should never expect to receive face value for your gift cards. There are some things to remember if using CardCash:
- You will be paid a discounted rate for your gift card balance.
- The rate will be based on the popularity of the card or business.
- You will be able to trade for other discounted cards.
- You will be able to purchase discounted gift cards.
- 100% Money back guarantee is offered when purchasing gift cards, but the card must be used within 45 days of purchase or trade.
CardCash is not accredited by the Better Business Bureau. It has received 1.29 out of 5 stars, with a B+ rating. The majority of the complaints have been connected to the 45-day guarantee, stating balances disappear after that time frame.
How Can DoNotPay Help?
DoNotPay knows that your time and money are valuable. That's why we developed our new gift card cash back product. With our product, we will automatically check to see if your state has a cash-back policy. But don't worry. Even if your state doesn't have a cash-back policy, we will check for offices in one of the cash-back states.
All you have to do is:
- Log-in to your DoNotPay account and search for "Gift Card".
- Upload a photo of the front and back of your gift card.
That's it! We'll get right back to you with the remaining balance of your gift card!
What Else Can DoNotPay Do?
DoNotPay wants you to make the best use of your time while staying informed. Let us help you with:
- Experian Boost reviews
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Helping you with cash-back inquiries is a drop in the bucket of our services. These are just a few examples of how we can advocate for you:
- Paying bills
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Let DoNotPay help you with the problems that you come across in your daily life, like explaining how legit CardCash is. From learning about different companies to protecting yourself with our virtual credit cards, DoNotPay can make your life easier while saving you time and money.